ETHW (EthereumPoW), a network derived from Ethereum, has recently made public its decision to dissolve its core development team. This decision was reached through a majority agreement and included the disbandment of the ETHW core development team, intending to achieve complete self-governance.
— EthereumPoW (ETHW) Official (@EthereumPoW) December 19, 2023
The network will persist in its commitment to Proof of Work (PoW) as the primary consensus mechanism, with plans to uphold this in the long run. Furthermore, ETHW is striving to adopt decentralized governance and transition into a public chain without central authority. In the interim, OneDao will assume responsibility for the existing servers, providing transitional maintenance until a permanent ecosystem partner is identified.
In the past year, the Core team of EthereumPoW (ETHW) has been dedicated to meeting the obligations set forth during the initial fork. The team has investigated and confirmed the viability of ETHW functioning autonomously without the support of the Core, thereby establishing the essential technical and operational prerequisites for ETHW under such circumstances.
EthereumPoW’s Future: Embracing Decentralization and PoW
After comprehensive deliberations and a majority agreement, a collective decision has been made: the prerequisites for disbanding the core development organization have been met, and it is now the appropriate moment to deliver on our commitments.
However, it’s important to note that some community members believe the fork is motivated by financial reasons rather than ideological differences. Despite these concerns, ETHW plans to continue with PoW and aims to become a fully autonomous and decentralized network.
As Ethereum moved from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS), some miners expressed concerns about its potential impact on their earnings. In response, ETHW was created as an alternative for those who wished to continue with PoW mining.
The ETHW network has announced the dissolution of its core development team, intending to achieve full autonomy and a commitment to Proof of Work (PoW). This move towards decentralized governance marks a significant change, as ETHW becomes a public entity without a central authority controlling it, with OneDao overseeing overall maintenance during the transition.