Blockchain Startup Tendermint Appoints Peng Zhong As CEObr>
California-based startup Tendermint has appointed Peng Zhong as its new CEO and announced the formation of a new Board of Directors.
Tendermint is a software development company contracted by the Interchain Foundation to develop the Cosmos Network. The company builds critical infrastructure for open networks, like the Cosmos SDK, Tendermint Core, and Gaia. According to its website, Tendermnt claims over $6 billion in digital assets secured by its blockchain.
Zhong has a long history in the Tendermint and the Cosmos ecosystem joining co-founders Ethan Buchman and Jae Kwon as Tendermint Inc’s first employee in 2015. His deep understanding of the ecosystem and its value proposition stems from spearheading the digital presence and brand of Cosmos and Tendermint, building the first Cosmos wallet, Voyager (now known as Lunie) and leading the company’s focus on improving the Cosmos developer experience.
Tendermint’s newly formed Board of Directors includes Heng (Harriet) Cao, CEO of Bianjie and Co-Founder of IRISnet, Jae Kwon, Founder of Tendermint Inc, Co-Founder of Cosmos, and President of the Interchain Foundation (ICF), and Zhong. Tendermint said that candidacy for the fourth and fifth board seats is undergoing active consideration.
Tendermint Inc’s Board of Directors and CEO have an aligned objective to structure and execute a viable long-term vision and strategy for the organization. The CEO’s role is responsible for the development and execution of the company’s vision and is held accountable by the board and Tendermint Inc’s shareholders. The CEO reports directly to the Board of Directors about the company’s progress and any significant organizational changes. Tendermint Inc’s Board of Directors is actively responsible for financial resource allocation, budgeting, and executive compensation in addition to advising the CEO.
“Our current priority is to enhance the Cosmos developer experience — hosting community events and developing educational resources for tooling, tutorials, and onboarding to bring utility, usability, and ultimately value into the Cosmos Network,” said Zhong. “We are focused on building the distributed applications that will bring the Internet of Blockchains —a sovereign, secure, and sustainable ecosystem of decentralized networks to fruition. Watch this space.”