The EthereumPoW Core team has declared its dissolution, leading to a decline in the value of the cryptocurrency ETHW. According to the team, over the past year, the EthereumPoW (ETHW) Core group has made continuous efforts to fulfill their commitments made during the initial hard fork.
After independently testing and confirming the feasibility of ETHW’s operation without the need for team support, they concluded that the conditions for the organization’s dissolution were ripe, and it was the opportune time to carry out their commitment.
The decision to dissolve received consensus from the team, including:
- Dissolving the development team of EthereumPoW (ETHW) Core to achieve complete self-governance.
- Maintaining Proof of Work (PoW) as the fundamental consensus mechanism for the chain and sustaining it in the long term.
- Embracing decentralized management to become a self-operating public chain.