EthereumPoW dissolves core team, embraces full autonomy

2023-12-19 16:31:03

EthereumPoW will disband its core development team to achieve full autonomy for the network.

The announcement today reflects the EthereumPoW (ETHW) community’s desire for a decentralized governance structure. Following the dissolution, ETHW will become a fully autonomous public chain. This move also aligns with their commitment to uphold proof-of-work (PoW) as the underlying consensus mechanism for the chain, ensuring its stability and longevity.

During this transition period, OneDao, a decentralized protocol on the Harmony network, will temporarily take over the maintenance of the existing EthereumPoW servers. This is a temporary solution until long-term ecological partners are identified who align with ETHW’s vision of a decentralized eco.

The EthereumPoW blockchain was created following the Ethereum network’s shift from PoW to a proof-of-stake (PoS) consensus mechanism in September 2022. Despite challenges, including limited support from major entities like Grayscale Investments, EthereumPoW has continued its operations. The ETHW token reached a high of $58.54 in September 2022 and has since fallen in value

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.