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Ethereum hard fork "ETHW" core team announces dissolution, TVL less than $200,000

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Ethereum hard fork "ETHW" core team announces dissolution, TVL less than $200,000

The ETHW hard fork version of ETH PoW, originally led by Chinese miner "Baoye," announced the dissolution of its core development team to achieve decentralized governance. Baoye once stated that the price of ETHW would surpass ETH in the next ten years, but currently, the TVL is less than $200,000.

Do you remember ETHW? The Github code has not been updated for over half a year, born only for speculation.

ETHW Core Dissolution Statement

EthereumPoW official announcement as follows:

Over the past year, the EthereumPoW ETHW Core team has been working diligently to fulfill the promises made during the fork's inception. We have explored and verified the feasibility of ETHW operating independently without core team support, confirming the fundamental technology and operational conditions of ETHW in this scenario.

After thorough discussions and based on majority consensus, we have reached a unanimous decision: the conditions for dissolving the core development organization are now ripe, and it is time to fulfill the commitment.

The consensus includes:

  1. Dissolving the EthereumPoWethw core development team to achieve fully autonomous operation.

  2. Adhering to PoW as the underlying consensus of the chain and maintaining it long-term.

  3. Upholding decentralized governance to become a deity-free public chain.

For some existing servers, they will be temporarily transferred to OneDao for transitional maintenance until long-term ecological partners are found.

Influence Far Less Than ETC, TVL Less Than $200,000

Bob Summerwill, Executive Director of the non-profit organization ETC Cooperative for Ethereum Classic ETC, had previously criticized the lack of action by the ETHW team.

He once again tweeted that since the fork, the GitHub code for ETHW has never been updated, and the "handover" of community governance is just an excuse for the core team to escape.

According to DeFiLlama, ETHW's TVL approached nearly $7 million in October last year, but now it is less than $200,000.

Previously, Baier Er accepted an interview with foreign media and also stated that the coin price of ETHW will catch up with ETH in the next ten years.