Cosmos Founder Calls For Chain Split, ATOM Down 3%
Summary
The founder of Cosmos, Jae Kwon, has proposed a hard fork, or split, of its native blockchain ATOM following a decision by community members to reduce ATOM's inflation from 14% to 10%. The proposal, dubbed 848, was approved by a vote of 41.1% against a 31.9% disagreement. Kwon's proposed hard fork, aiming to create ATOM1 in addition to the existing ATOM token, could end years of internal disputes according to an expert observer. This hard fork could potentially result in the largest ever airdrop to ATOM and ATOM1 token holders. Airdrops are a form of marketing where developers send free tokens to their community. Despite this, ATOM value is down 3.5% and is struggling to maintain a value above $10.
