EthereumPOW Disbands Core Development Team to Pursue Autonomy

In a strategic move aimed at embracing a more eco-friendly blockchain, the EthereumPoW (ETHW) Core team has meticulously upheld its commitment to autonomy throughout the past year.

The Inevitable Transition Implemented

A pivotal announcement from Jadal Page, an EthereumPOW Core developer has signaled the dissolution of the core development team. A detailed statement from the team underscores how this move marks a significant step toward exploring ETHW’s potential to operate independently without the Core team’s support.

The team, having fulfilled essential technical and operational prerequisites, decided to dissolve the core development organization through majority consensus and extensive deliberations, manifesting a landmark shift in the organizational structure shown at the time the Ethereum Merge event took place last year.

The EthereumPOW disbandment revolves around three key agreements that empower the ETHW Core development team to attain full autonomy. Ethereum POW will persist as the foundational consensus mechanism, ensuring the stability and sustainability of the chain in the long run.

A transformative shift is underway as EthereumPoW evolves into a deity-less public chain, signifying a move towards enhanced community involvement and decentralized governance.

The core team’s dissolution move aligns with their commitment to empowering ETHW to operate independently, emphasizing their dedication to decentralized principles.

EthereumPOW Price Reacts

Meanwhile, to ensure a seamless transition, the existing servers will undergo a temporary transfer to OneDao for transitional maintenance. This planned maneuver guarantees the ongoing smooth operation of EthereumPoW (ETHW) until long-term ecological partners are identified, showcasing a commitment to maintaining continuity amidst transformative changes.

The dissolution of the core development team and the transition towards full autonomy underscore the team’s unwavering dedication to the promises made during the initial fork. While the dissolution marks a big deal for the protocol, if this current transition is implemented appropriately, it can usher the ETHW protocol into a new era entirely.

The price of EthereumPOW is responding negatively to this new development, dropping by 4.6% in the past 24 hours to $2.6. At the moment, ETHW’s hashrate is pegged at 16.2 TH/s, bucking the relatively bullish trend seen over the past week.

Though the community seems skeptical of its future, support from market leaders like Binance may go a long way in helping to return normalcy to price action in the long term.