Parity Technologies, the developer of Polkadot, a platform at the forefront of blockchain interoperability, has reportedly laid off more than 300 employees. According to an X post shared by “chainyoda,” a core contributor, on October 12, the number retrenched is more than that of developers working on dapps deployed on the blockchain.
Parity Technology Game Plan: To Be More Decentralized
There has been no confirmation from Parity on the exact number of employees whose contracts have been terminated. However, as of October 11, the company updated its community on what it plans to do in the coming months.
On social media platform X, Parity said they advocate for decentralization and don’t want to be a “bottleneck, slowing down the growth of Polkadot.” As part of this, they will look to continue enhancing Polkadot’s technology, improve developer experience, and foster a strong community of developers.
Accordingly, this meant a change of strategy. Parity said it would be “sunsetting its go-to-market functions to make room for the emergence of new ecosystem leaders” to spearhead Polkadot’s development.
As part of this transition, Parity Technologies pointed to a new program launched by Web3 Foundation, which it believed would help build and mold the next cohort of leaders to take Polkadot and Kusama ecosystems to the next level.
The Web3 Foundation announced the Kickstarter program on October 10. It aims to deploy “20M CHF and 5M DOT throughout 2024” to catalyze development within the two ecosystems.
Mixed Reactions: What Happens To DOT?
The reception of this news has been
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Author: Dalmas Ngetich
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