The Ethereum Proof of Work (ETHW) core development organization has been dissolved to help the protocol achieve full autonomy. In late November, the ETHW team pleaded for $200,000 in funding to maintain servers and recruit part-time engineers. ETHW Core team’s development approach has been criticized.
Upholding PoW as the Chain’s Consensus
On Dec. 18, the Ethereum Proof of Work (ETHW) core development organization was dissolved to help the protocol achieve full autonomy. A statement released by an ETHW core team member said the decision, which allows ETHW to operate independently without the Core’s support, followed “in-depth discussions and [was] based on a majority consensus.”
Explaining the rationale behind the decision, the ETHW core team claimed that this has been its commitment since forking from the Ethereum blockchain in September 2022. Besides the dissolution, the core team also resolved to uphold proof of work “as the underlying consensus for the chain” as well as maintaining it over the long term.
“The existing servers will be temporarily transferred to Onedao for transitional maintenance until long-term ecological partners are identified,” the core team added.
After emerging from The Merge, the team behind ETHW endorsed turning the protocol into “an all-in-one ecosystem decentralized autonomous organization (DAO)” among other changes. Despite this and subsequent attempts to improve it, the protocol nonetheless began having trouble raising funds to keep the servers running.
Seeking $200k for EthereumPoW (2024) operational funds. Maintaining ETHW Core servers and recruiting 1.5 part-time engineers. Your support ensures stability!
#ETHW #CryptoCommunity #ethereumPoW @awsbclub_cn
— EthereumPoW (ETHW) Official (@EthereumPoW) December 1, 2023
On Nov. 30, the ETHW team pleaded $200,000 in funding to maintain servers and recruit part-time engineers. The core’s multi-sig balance had dwindled to 10.75 ETHW or $29.58 at that time. However, Chad Edwards, formerly of Twitter, immediately questioned the plea.
“I strongly disagree with your approach to development. We, NFT Beatles enthusiasts, have made efforts to bring Beatles and the ETHW system to everyone. What are you doing in the ETHW 15$ to 1$ phase? And now, you only tweeted twice in the past six months, once in June and once in July. And suddenly, you demand 200,000$,” Edwards asked.
The X user however said at the time that if the ETHW core team came up with a specific development plan, this is likely to get support.
What are your thoughts on this story? Let us know what you think in the comments section below.
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