Thanks to the support of more than 36 developers, the community will give birth to a new network called Hive. A user compared the plan to a shipwreck in which most are saved while the captain sinks.
The community around Steem has learned some lessons from the controversy with the TRON Foundation in early March of this year. One of these teachings is related to the problems that may arise in systems based on Delegated Proofs of Stake (DPoS).
The other learning has to do with the fact that the true value of a cryptocurrency is its community. Following that principle, a group within the Steem community developed a new blockchain, called Hive, and decided to conduct the hard fork last March 20th.
In this way, the proposal that a Steemit user, who identified himself as “Blocktrades”, published last March 15th gained strength. It should be mentioned that he is also the representative of a company that has the same name.
Blocktrades’ proposal, now available on the blogging site Steemit, received comments from another user who identified himself as kerrislravenhill. He summarized the plan humorously, comparing it to a shipwreck in which the Steem community would board the lifeboats, and leave the captain to sink with the ship. This is a clear reference to how they would get away from TRON CEO Justin Sun and his idea of centralization.
The Stem community approved Blocktrades’ proposal and announced last March 18th the hard fork. The group states that the best path to take is the launch of a new blockchain.
In this way, the community will use the updated Steem code to give birth to the blockchain Hive, along with a completely new token. Under this scheme, they will completely detach themselves from Justin Sun and move forward, preserving their decentralization. At the time of the fork, all STEEM owners, except Justin Sun, will receive the new token via airdrops.
In his proposal, Blocktrades describes the situation of Steemit Inc. when Sun acquired it. He states that it had intellectual property and experienced developers, as well as brand strengths. However, he explains Sun’s actions put all of this at risk, which the cryptocurrency ecosystem community heavily criticized.
From Blocktrades’ point of view, the birth of the new blockchain Hive will result in the further weakening of Steemit Inc. Above all, everyone who has abandoned Sun is now on the side of the community, a team of 36 experienced developers is currently supporting Hive. Of course, among them are the founders who participated in the initial development and maintenance of Steem.
According to some comments that users have left regarding the proposal, it is possible to see that the Steem community is aware that the path will not be easy through the fork route and that they will undergo difficulties. However, most of them seem to agree that they will make a profit and capitalize on the efforts that they have made to the date, so they are determined to face whatever lies ahead.
By Alexander Salazar