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Justin Sun makes a hard fork count by Steem, Hive at Virtual Blockchain Week

May 1, 2020

At Virtual Blockchain Week (VBW), the founder of Tron, Justin Sun presented his version of the most recent events affecting Tron’s “association” with Steemit Inc. and the subsequent fork that resulted in Hive (HIVE) separating from Steem (STEEM).

In February, it was reported that Justin Sun acquired Steemit Inc along with the platform founder’s reward of 20% of the total STEEM token offering. In response to the alleged takeover, the Steem community has initiated a fork to freeze the reward.

Sun declines to tell that Tron Steemit Inc. has “acquired”

Sun stated this at VWB He does not believe that the term “acquisition” is the right word to describe the partnership between the Tron Foundation and Steemit Inc.

Justin Sun makes a hard fork count by Steem, Hive at Virtual Blockchain WeekJustin Sun makes a hard fork count by Steem, Hive at Virtual Blockchain Week

“At first we stopped using the word acquisition We are talking about associationJustin said, trying to clarify the nature of the relationship:

“Steemit Inc occupies a certain percentage of the tokens in the Steemit ecosystem, and is also one of the most important applications in the ecosystem […] Bitcoin is definitely decentralized like Steem, however [algunos] from companies they have a lot of bitcoin. This is the relationship between the company and the Steem blockchain. “

Sun emphasized his preferred “partnership” nomenclature and recognized that as one of the largest decentralized applications in Steem “Steemit Inc definitely has some impact on the Steem blockchain.”

Binance and Huobi vote against Steem node operators

In March Sun has been working controversially with the major stock exchanges, Binance and Huobi, to replace former Steem node operatorsHostile takeover reports.

The exchanges quickly withdrew their votesincluding customer funds that had been mobilized for the government vote and claimed they did not know they were helping the removal of the Steem node operators.

The incident turned out to be the last straw in the dispute. In the following weeks, Hives hard fork occurred. Hive’s hard fork froze the founder’s reward, triggered retaliation for Steem, and froze the STEEM tokens associated with the actors who led the hard fork.

“First of all, as Steemit Inc. [entró] In the Steem ecosystem, we found that our assets were frozen by some malicious actors, “Sun said during the VBW.

“When Hive does the hard fork, they actually freeze and take all the money from the people who disagree with them, not just us, the Korean and Chinese community, but just take their money for the Hive blockchain,” said he. “That is why we work with stock exchanges to recover this money […]And that’s why we believe we’re doing the right thing. “

“We just asked for the money back […] we have done nothing further. We work with some third parties to return all funds to users. […] and then we let the Steem community make all the decisions. “

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