Steem Community To Hard Fork to Hive In Final Blow To Escape Justin Sun’s Steemit Power
The battle for Steemit’s control is getting stiffer for Justin Sun as the Steemian community plan a hard fork to exclude his 20% stake from the new blockchain. The Steemit 2.0, dubbed Hive.io, is expected to launch this Friday, March 20, 2019 promising a number of changes to the governance protocol.
However, the mission to overthrow Sun will not be straightforward as some analysts and validators (witnesses) explained. As at time of press, no comment has been received from Mr. Sun’s team.
The Hive Hard Fork proposal
Since Justin Sun’s purchase of Steemit Inc., the largest Dapp on the Steem blockchain, there has been a big disagreement between the Tron chief and the Steem developers and Steemians (Steem community).
First, the two sides battled for control for the blockchain whereby the top witnesses proposed a soft fork to prevent Justin from using the “ninja-mined stake” in governance decisions. This prompted Justin to collude with Binance exchange, Huobi and his privately owned, Poloniex (using users’ funds) to vote against the proposal – a vote since withdrawn by the former exchanges.
An anonymous user on Steem, BlockTrades, has since started a movement to hard fork the Steem blockchain in a bid to lock out Justin’s coins from the blockchain. Blocktrades wrote in a Steemit post,
“At this point, Steemit Inc. itself has no community to support the value of a coin it controls: the only community here is the Steem community, not the Steemit community, and it mostly wants nothing to do with Justin (some are even willing to pay him to leave).”
The Hive already launched yesterday with the hard fork set to launch on Mar. 20 leading to a number of drastic changes different to the Steem blockchain. The fork will copy all the blogs on Steemit alongside everything else on the blockchain except the ninja minted coins in a bid to make Justin’s tokens worthless. The post further reads,
“The initial Hive launch will be a direct copy of existing blockchain with a few small upgrades, which will allow us to get back to community discussion on the direction for future development, needed changes, and most wanted chain-level features.”
A Hive of activity to change the blockchain
According to the post the new blockchain is not entirely aimed at ending Justin’s control in Steem but rather an “improvement model.” According to Blocktrades founder Dan Notestein, the new blockchain will implement new governance proposals to limit the power of exchanges to vote. He said,
“One of the initial changes will be an improvement in the DPoS [distributed proof-of-stake] system to prevent attacks of this sort.”
However, there remains a lot of doubts surrounding the successful completion of the hard fork – with past experiences giving a grim highlight. Matt Rosen, Steem witness, said,
“On the one hand I don't think there has ever been a fork that ended up overtaking the original in value, but on the other hand i don't think there's ever been a situation where so much of the community around a blockchain/token has been so opposed to what is going on.”