The chief govt of blockchain firm Algorand has stepped down, and the corporate’s chief working officer will take his place.
As the Boston agency mentioned in a information launch Wednesday (July 27), W. Sean Ford has been named Algorand’s interim CEO, changing outgoing Chief Executive G. Steven Kokinos, who’s leaving to pursue different pursuits. Kokonis is about to stay with Algorand as a senior advisor till the center of subsequent 12 months.
“We thank Steven for his time and dedication to Algorand. He has been instrumental to the initial success of our business, and we appreciate his commitment to a seamless transition,” mentioned Founder Silvio Micali, an MIT professor and Turing Award-winning mathematician who makes a speciality of cryptography, secrecy and blockchain. “Sean is well positioned to partner with me to keep the company operations running business as usual, and to help us transition Algorand to our next phase of growth.”
PYMNTS profiled Algorand earlier this 12 months, referring to it as “a smart-contract platform that aims to provide a faster, cheaper, more secure, more scalable blockchain transaction.”
“By the numbers, Algorand can process 1,000 transactions per second (TPS) and has a sub-5-second block time, which refers to the frequency with which new blocks of transactions are written onto the blockchain, and thus finalized,” PYMNTS mentioned.
See additionally: PYMNTS Blockchain Series: What’s Algorand? The Blockchain Securing Transactions by Spreading the Wealth
Ford joined Algorand in 2018 following a stint at LogMeIn, the place he served as chief advertising and marketing officer. He’s held a variety of different management roles, together with CMO and COO of Zmags, CMO of Syncsort, and vp of the worldwide enterprise unit advertising and marketing at Oracle.
Algorand mentioned that it has seen “significant growth” this 12 months, together with its latest appointment because the official blockchain platform of the Fédération Internationale de Football Association (FIFA), the worldwide governing physique of affiliation soccer.
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