One of the key architects of The DAO’s structure, Stephan Tual, left the Ethereum community after nine years. Tual, a big name in the developer community of the leading altcoin ETH, stated that the original goals of the project began to contradict his own views. Here are the details…
Breakup in the leading altcoin team
Tual’s comments came at the Ethereum London meeting. The developer stated in an email that he “resigned as leader of the [meeting] group.” He also announced that he is leaving the Ethereum community in general. He then stated that he “can’t continue to act like everything is fine on Web3.” Tual provided more details in a Reddit post. In this post, The DAO and software company made some scam allegations against Slock.it. He also said that this makes his current situation with Ethereum disconnected.
Tual noted that “Blockchain has returned to the central NFT circus.” He also implied that many projects are ponzi schemes, offering illegal securities. For this reason, he stated that he did not see “not a single piece” of himself in this field. Tual noted that it now plans to focus on other technologies such as software-defined radio communications and mesh networks. The developer’s statements included the following statements:
By August 15, 2022, Blockchain (or should I say ‘distributed ledger’ in hedge fund terminology?) has become a circus of endless Ponzi schemes, illegal securities or sycophants pledging allegiance to the regulator.
What was Tual’s role?
Tual’s Ethereum adventure started in the first month of 2014 and he was awarded the title of “chief communication officer”. After working here for about a year and a half, he announced his departure in 2015 to develop Slock.it. Slock.it, as we have also announced as Kriptokoin.com, is a project that aims to create a framework for decentralized autonomous organizations (DAO). A large developer community adopted the framework that year in collaboration with Slock.it. He used the platform to create the structure known as The DAO.
The DAO represented the first significant effort in a truly decentralized autonomous organization focused on crowdfunding. Before a flaw in its code was discovered, it had attracted a massive investment of 15 percent of all Ethereum (ETH) currently in circulation. However, due to the seriousness of the problem, the Ethereum Blockchain has finally undergone a hard fork. This led to the introduction of two separate altcoins, Ethereum and Ethereum Classic.
Tual rose to prominence after The DAO ended. He continued to be involved in the Ethereum community. He left Slock.it in 2017 to launch a crypto-focused incubation platform. He continued to hold Ethereum events in London. Tual did not say who abused the bug in The DAO. But he stated that “the truth will one day come out”.
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