Monero's "Decentralization Movement": Lead Developer Riccardo Spagni Retires

"Fluffypony" (Riccardo Spagni) is no longer the lead developer of privacy cryptocurrency Monero (XMR).

According to a statement on Monday, Fluffypony has been responsible for the development of the project since the birth of Monroe in 2014, and he still will not leave today, just changing his identity-alternate maintainer. Snipa is a long-time contributor to Monroe, and he will take over from Fluffypony.

Monero logo on a computer screen with a magnifying glass

It's unclear why Fluffypony stepped down, but he once expressed his thoughts on exiting the project. In May 2018, he said:

"I'm responsible for the maintenance of multiple projects. Last year I thought: I can't do this. For Monroe, I will always be a privacy advocate and part of the Monroe community, but the definition of my responsibilities needs to be reduced."

Fluffypony was not only the head of Monero, but also managed three cryptocurrency startups. And because he is one of the few celebrities in the Monroe community, he has become an informal person in charge.

Satoshi Nakamoto's departure has inspired the cryptocurrency community. A single influential person in a cryptocurrency project is likely to become a centralized "point of failure" and may have a conflict of interest; or if it is too dependent on an individual, in the event of an accident, it will only increase the risk of project failure Big.

Well-known cryptocurrency figures including Ethereum's Vitalik Buterin and Litecoin's Charlie Lee are trying to gradually reduce their influence. Both of them have said that they may gradually exit their projects in the future.

In fact, Fluffypony's other responsibilities were taken over by other contributors. For example, he would not be responsible for reviewing announcement emails sent to the Monroe community. He will also take on alternate roles for other tasks such as engineering, management, and server access.

Recently, several cryptocurrency exchanges, including OKEx Korea and BitBay, announced that they have decided to take Monero offline due to compliance risks. So can this Monero's "decentralization" campaign save the delisting crisis?

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Babbitt Column | Money Money Risk Avoidance Guide for Digital Currency Trading Subjects

The anonymity and complexity of digital currency trading make trading participants and trading platforms face many ri...

Blockchain

The compliance exchange is about to appear in Singapore?

On December 18, 2019, the official website of the Monetary Authority of Singapore (hereinafter referred to as "M...

Market

Multiple macroeconomic negative factors have hit the market, causing Bitcoin to drop below 26,000 US dollars in the short term.

24-hour bitcoin price analysis chart shows that bitcoin is in a strong downtrend, with bears dominating the market.

Blockchain

Coinbase becomes Tezos' largest verification node, will it be a new trend for exchanges?

Original: Cryptopotato , original author: Jordan Lyanchev Source: Odaily Planet Daily, Translator: Yu Shunsui Accordi...

Market

Layout for many years but little known? Exploring the full picture and opportunities of the Japanese Web3 encryption market

What is the current situation of the Japanese cryptocurrency market? Who are the key participants? How can one partic...

Blockchain

Can the community restart and can the losses be recovered? 8 big events to clarify the way for FCoin to defend your rights

On February 17, 2020, FCoin founder Zhang Jian released the "FCoin Truth" announcement. FCoin was unable to...