The EthereumPoW Core Team Dissolves
In a strategic move towards a more eco-friendly blockchain, the EthereumPoW (ETHW) Core team has made the decision to dissolve. This marks a significant step towards ETHW’s independence and exploration of operating without the support of the core development team.
After fulfilling technical and operational prerequisites, the core development organization has been dissolved through majority consensus. This shift in organizational structure aligns with the Ethereum Merge event that took place last year.
The disbandment revolves around three key agreements that empower the ETHW Core team to achieve full autonomy while maintaining Ethereum POW as the foundational consensus mechanism for stability and sustainability.
EthereumPoW is transitioning into a deity-less public chain, emphasizing community involvement and decentralized governance.
Price Reaction and Continuity
To ensure a seamless transition, existing servers will be temporarily transferred to OneDao for maintenance. This guarantees the smooth operation of EthereumPoW until long-term ecological partners are identified.
The dissolution of the core development team demonstrates their commitment to decentralized principles and promises made during the initial fork. While it may be a significant change, if implemented appropriately, it can usher in a new era for the ETHW protocol.
However, the price of EthereumPoW has dropped by 4.6% in response to this news. The hashrate is currently at 16.2 TH/s, deviating from the previous bullish trend. Market leaders like Binance may help restore normalcy to price action in the long term.
Hot Take: EthereumPoW Core Team Dissolves for Autonomous Operation
The dissolution of the EthereumPoW Core team marks an important milestone in the journey towards an eco-friendly and autonomous blockchain. By achieving full autonomy and exploring decentralized governance, ETHW is embracing its potential for independent operation. While there may be short-term price reactions and uncertainties, this move sets the stage for a new era of community involvement and sustainability in the EthereumPoW protocol.
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