ETHW, the ETH PoW hard fork version led by Chinese miner Bao Er Ye, has announced the dissolution of its core development team and the implementation of decentralized governance. Bao Er Ye previously stated that the price of ETHW would surpass ETH in the next ten years, but currently, the TVL is less than $200,000.
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Do you still remember ETHW? The Github code hasn’t been updated for over half a year, and it was only created for dumping purposes.
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ETHW Core Dissolution Statement
Influence Far Less Than ETC, TVL Less Than $200,000
ETHW Core Dissolution Statement
EthereumPoW
The official announcement is as follows:
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Over the past year, the EthereumPoW (ETHW) Core team has been working hard to fulfill its initial promises for the fork. We have explored and verified the feasibility of ETHW operating independently without the support of a core team and have confirmed the technical and operational conditions of ETHW in this scenario.
After in-depth discussions and based on majority consensus, we have reached a unanimous decision that the conditions for dissolving the core development organization have matured, and now is the time to fulfill our commitments.
The consensus includes:
Dissolving the EthereumPoW (ethw) core development team and achieving fully automated operation.
Adhering to PoW as the underlying consensus of the chain and insisting on long-term immutability.
Adhering to decentralized governance and becoming a public chain without a divine figure.
Temporarily transferring some existing servers to OneDao for transitional maintenance, subject to finding long-term ecological partners.
Influence Far Less Than ETC, TVL Less Than $200,000
Bob Summerwill, Executive Director of the non-profit organization ETC Cooperative, previously criticized the lack of action from the ETHW team.
He also tweeted again, pointing out that the ETHW GitHub code has never been updated since the fork, and “handing over” community governance is just an excuse for the core team to escape.
According to DeFiLlama, ETHW’s TVL reached nearly $7 million in October last year but now is less than $200,000.
Bao Er Ye, in a previous interview with foreign media, also stated that the price of ETHW would surpass ETH in the next ten years.
ETHW
ETHW Core
Bao Er Ye
Further Reading
Do you still remember ETHW? The Github code hasn’t been updated for over half a year, and it was only created for dumping purposes.
Controversy over BSC shutdown and rescue of coins | ETH PoW advocate Bao Er Ye: PoS is a joke, CZ responds.