Ethereum’s Core Team Dissolves, Embracing Complete Autonomy
EthereumPoW, in pursuit of a decentralized governance structure, has made the decision to disband its core development team. This move aims to grant the network complete autonomy, transforming it into a fully independent public chain. In doing so, EthereumPoW reaffirms its commitment to the proof-of-work (PoW) consensus mechanism, which serves as the foundation for the chain and ensures its stability and longevity.
To facilitate this transition, OneDao, a decentralized protocol operating on the Harmony network, will temporarily assume responsibility for maintaining the existing EthereumPoW servers. This arrangement will serve as an interim solution until long-term ecological partners are identified who share ETHW’s vision of a decentralized ecosystem.
The EthereumPoW blockchain was established following Ethereum’s shift from PoW to a proof-of-stake (PoS) consensus mechanism in September 2022. Despite facing challenges, such as limited support from major entities like Grayscale Investments, EthereumPoW has persevered in its operations. The value of the ETHW token peaked at $58.54 in September 2022 but has since experienced a decline.
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