Peel and grate potatoes and onion using the large holes of a box grater or a food processor. Place in a clean kitchen towel and squeeze out excess moisture.
In a large bowl, combine grated potatoes, onion, eggs, flour, salt, pepper, and garlic powder (if using). Stir until well combined.
Heat ¼ inch of vegetable oil in a large skillet over medium-high heat until shimmering (about 350°F). Test with a small piece of batter; it should sizzle.
Scoop ¼ cup of the potato mixture, flatten into a 3-inch patty, and place in hot oil. Fry 3-4 pancakes at a time for 3-4 minutes per side until golden and crispy. Drain on paper towels.
Serve immediately with sour cream, applesauce, or your favorite topping. Garnish with chives or parsley, if desired.