Algorand Chief Stephen Kokinos Leaves Post To Pursue “Other Interests”

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Chief Executive Officer of Algorand Steven Kokinos has announced that he is stepping down from his position to pursue “other interests.” However, he plans to maintain his other role as a senior adviser to the board until mid-2023.

Sean Ford Selected As An Interim Replacement

While Kokinos is leaving the Algorand firm, he is still staying with Algorand blockchain. The executive explained that he will still be focusing on major projects in the Algorand ecosystem that will enable the speedy adoption of blockchain technology.

Following the announcement, Algorand has appointed the company’s Chief Operating Officer, Sean Ford, to take his place as an interim replacement.

“We thank Steven for his time and dedication to Algorand,” said Silvio Micali, Founder of Algorand. He added that Stephen played a major role in the initial success of the business.

However, he added that Stephen’s service will still be needed in other areas as the company tries to expand its business and ensure more adoption. The company is ready to move into the next phase of its growth and Stephen is well positioned to partner with the cause.

Algorand Has Seen Notable Growth This Year

Algorand stated that it had recorded “significant growth” this year. The platform was recently appointed as the official blockchain firm of the global football body FIFA in readiness for the 2022 World Cup in Qatar.

The Algorand system was designed to provide a solution to the “blockchain trilemma”. Proponents of Algorand claim that the system has solved the problem, which is achieving decentralization, security, and scalability simultaneously.

Algorand is a smart contract platform that provides cheaper, more secure, faster, and scalable blockchain transactions. The company says it has a sub-5-second block time and is capable of processing 1,000 transactions per second (TPS). The block time refers to the regularity with which new blocks of transactions are written onto the blockchain.

Ford started working with Algorand in 2018 after spending some time with LogMeln where he worked as a chief marketing officer. Ford comes with several years of experience in the industry, gained from various top firms. He has served as Chief Marketing Officer of Syncsort and Chief Operating Officer of Zmags. He has also served as vice president of the global business unit marketing at Oracle.

About Ali Raza PRO INVESTOR

Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.