The ETHW team announced the dissolution of the organization

The ETHW team announced the dissolution of the organization

user avatar

by Max Nevskyi

3 years ago

In a recent update on the official blog of the cryptocurrency project EthereumPoW (ETHW), the developers shared insights into their work. They noted that throughout the year, they diligently worked on fulfilling commitments made following the initial fork.

The EthereumPoW (ETHW) team conducted research and confirmed that ETHW can operate independently of the Core Team. This aligns with the original technical and operational conditions set for ETHW. After thorough discussions and reaching a consensus, the Core team decided to dissolve the main organization, believing it was time to fulfill these promises.

As a result, Core representatives announced the cessation of their joint work. Key decisions include the dissolution of the EthereumPoW (ETHW) core developer team to achieve full autonomy, maintaining the PoW algorithm as the primary mechanism for the blockchain in the long term, and transitioning to fully decentralized management. This will allow the network to develop without external pressure.

It was also noted that the current servers will be temporarily transferred to One Day company until long-term partners are determined.

Following this announcement on December 19, 2023, the value of ETHW significantly dropped. Within a few hours, the price fell by 8.7%, setting the coin's price at $2.59, with a total market capitalization of $279.1 million.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.