Ethereum Hard Fork “ETHW” Core Team Announces Disbandment, TVL Drops Below $200,000
The ETH PoW hard fork version “ETHW,” originally 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 the current Total Value Locked (TVL) is less than $200,000.
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Do you still remember ETHW? The GitHub code has not been updated for over half a year, only created for dumping purposes.
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ETHW Core Dissolution Statement
Influence Far Inferior to 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 striving to fulfill the initial promises of the fork. We have explored and verified the feasibility of ETHW operating independently without the support of a core team and have confirmed the basic technology and operational conditions of ETHW under such circumstances.
After in-depth discussions and based on majority consensus, we have reached a unanimous decision: 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 autonomous operation.
Adhering to PoW as the underlying consensus mechanism and insisting on long-term stability.
Embracing decentralized governance and becoming a public chain without a central authority.
Temporarily transferring the maintenance of some existing servers to OneDao during the transitional period, subject to the condition of finding long-term ecological partners.
Influence Far Inferior to 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 not been updated since the fork, and the “handover” to community governance is merely an excuse for the core team to escape.
According to DeFiLlama, the TVL of ETHW reached nearly $7 million in October last year but is now 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 has not been updated for over half a year, only created for dumping purposes.
Controversy over BSC Shutdown and Coin Rescue | PoWETH Advocate Bao Er Ye: PoS is a joke, CZ responds.
