EthereumPoW Dissolves Core Development Team to Achieve Full Autonomy
EthereumPoW has made the decision to disband its core development team in order to establish a fully autonomous public chain. This move is driven by the community’s desire for a decentralized governance structure. By upholding proof-of-work (PoW) as the underlying consensus mechanism, EthereumPoW aims to ensure the stability and longevity of the chain.
Temporary Solution with OneDao for Maintenance
During the transition period, OneDao, a decentralized protocol on the Harmony network, will take over the maintenance of the existing EthereumPoW servers. This is a temporary solution until long-term ecological partners are identified who share ETHW’s vision of a decentralized ecosystem.
EthereumPoW’s Journey and Current Status
The EthereumPoW blockchain was established after the Ethereum network shifted from PoW to a proof-of-stake (PoS) consensus mechanism in September 2022. Despite facing challenges and limited support from major entities like Grayscale Investments, EthereumPoW has persisted in its operations. The value of the ETHW token reached a peak of $58.54 in September 2022 but has since experienced a decline.
Hot Take: EthereumPoW Embraces Decentralization for Long-Term Success
EthereumPoW’s decision to dissolve its core development team and pursue full autonomy reflects its commitment to decentralization. By upholding proof-of-work as the underlying consensus mechanism and seeking ecological partners who share their vision, ETHW aims to establish a stable and sustainable decentralized ecosystem. This move may pave the way for further innovation and growth within the EthereumPoW community.
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