Cardano Faces Lawsuit by Former Partner Z/Yen Group
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Cardano Faces Lawsuit by Former Partner Z/Yen Group

March 18, 2020      Vandana Malik

Cardano Foundation, an organisation which administers the development of Cardano, faces a lawsuit from Z/Yen Group. Z/Yen Group was earlier associated with the firm and due to its inefficient performance, it was dismissed from the organisation.

Alleged Agreement led to a lawsuit against Cardano

There has been a dispute between both the firms which led to this lawsuit but the details have not been revealed yet. 

There was an agreement dated back in July 2017 between both the firms which is considered to be a disputed one. This agreement was ended due to some reasons which are not acceptable by the Z/Yen Group. 

Cardano has refused to provide more information due to the legal proceedings. Alt the claims made by the former partner have been rejected by the firm.

Cardano has joined hands with Z/Yen Group to research different blockchain applications. The partnership between both the firms was managed by Michael Mainelli, who is the co-founder of Z/Yen Group. 

There were many research projects on which both the firms have worked together before they separated.  

The lawsuit does not include intellectual property

CEO of Input Output Hong Kong (IOHK), Charles Hoskinson, have also provided few details about this whole case against Cardano. 

According to him, the lawsuit is all about an agreement of 2017 between both the firms. During that time, Cardano was directed by Michael Parsons. Mr Parsons had some good contacts with the Z/Yen Group who conducted broad research of the whole industry for the company.

Hoskinson has also pointed out that there will not be any effect on the development and the protocol of Cardano. 

He further adds that the whole lawsuit filed against Cardano Foundation does not concern intellectual property. In fact, it is a business dispute between both of them which is expected to be resolved soon.

You May Also Read.

READ  ADA Rises 21%, Next Level $1.2
#Alleged agreement #Cardano #Charles Hoskinson #IOHK #Lawsuit #Michael Mainelli #Z/Yen Group
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.