Gavin Wood, founder of Polkadot and CEO of Parity Technologies, has officially stepped down as CEO of Parity.

According to news reports At Parity, Wood will remain a key stakeholder and lead architect, but will step down from his role as CEO. The next CEO will be Parity co-founder Bjorn Wagner.

Wood’s decision to step down as CEO stems from his need to find eternal happiness and also to have enough time for the things he loves to do, like coding, designing, brainstorming, and working on the Polkadot (DOT) token to provide value to fulfill the company’s mission.

“My retained efforts will be geared towards ensuring that Polkadot and Web3 are available to a large part of the population,” says Wood, adding that he believes the first step in doing this will be to help the community create a number of intriguing chains. -built-in social primitives, which are essential for the company to create a true Web3 platform.

Parity Technologies is a key provider of blockchain technology built to disrupt centralized online services and deliver institutional innovation.

This became available with the creation of Parity Ethereum, a prominent Ethereum client. Parity is currently concentrating on Substrate, a blockchain foundation that is industry standard. It has used it to create Polkadot, a decentralized blockchain web meta-protocol that connects and secures global crypto-economies.

Through the Polkadot Relay Chain, the Polkadot Protocol can link public and private chains, permissionless networks, oracles, and emerging technologies. This allows these separate blockchains to share data and transactions in an unreliable way.

Many Polkadot users don’t seem to mind the news. a Twitter user @Qinwen_Wang says “whatever Gavin does or chooses, we support himyou.”

News of Wood’s resignation as CEO of Parity comes after Alex Mashinsky recently offered his resignation as CEO of troubled crypto-lending firm Celsius Network.

Peng Zhong, CEO of Ignite, the organization that created the Cosmos blockchain ecosystem also Announced his departure from the company in early July.

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