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- EthereumPoW dissolves its core development team, seeking autonomy and evolution towards greener decentralized governance.
- Despite the dissolution of the core team, EthereumPOW’s price drops 4.6%, generating skepticism in the community.
EthereumPoW move focused on a greener blockchain, has announced the dissolution of its core development team. This decision is a step forward in its commitment to autonomy, which has been a priority over the past year.
Inevitable Transition Implemented by EthereumPOW
Jadal Page, lead developer of EthereumPOW, has signaled in a announcement the dissolution of the core development team. This step represents a significant move towards exploring ETHW’s potential to operate independently, without the support of the core team.
The team, after meeting essential technical and operational requirements, decided to dissolve the core development organization through majority consensus and extensive deliberations. This change marks a milestone in the organizational structure since the Ethereum Mergerevent last year.
The dissolution of EthereumPOW revolves around three key agreements that allow ETHW’s core development team to achieve full autonomy. Ethereum POW will remain the fundamental consensus mechanism, ensuring the long-term stability and sustainability of the blockchain.
We are witnessing a transformative shift as EthereumPoW evolves into a deity-free public blockchain, signifying a move towards greater community participation and decentralized governance.
EthereumPOW Price Reaction
In the meantime, to ensure a smooth transition, existing servers will be temporarily transferred to OneDao for transitional maintenance. This planned move ensures the smooth operation of EthereumPoW (ETHW) until long-term green partners are identified, demonstrating a commitment to continuity amid transformational change.
The dissolution of the core development team and transition to full autonomy underscores the team’s unwavering dedication to the promises made during the initial fork. While the dissolution is a big step for the protocol, if this current transition is properly implemented, it could lead the ETHW protocol into a new era altogether.
EthereumPOW’s price has reacted negatively to this new development, falling 4.6% in the last 24 hours to $2.5. Currently, the ETHW hash rate stands at 16.2 TH/s, countering the relatively bullish trend seen over the past week.
Although the community seems skeptical about its future, support from market leaders like Binance could be instrumental in helping to restore normalcy to the price action over the long term.
