As no truce between Justin Sun and Steem Community. Steem community decided to hard fork the steem in to new platform Hive which will launch today.
Binance and Huobi are supporting the Hardfork. At the snaphot time , people will get exact amount of hive tokens as of Steem they holding. Hive tokens will function same like Steem in Hive blockchain just name have changed.
Price of steem skyrocketed 200% after the announcement soon to dump heavily.
What to expect
- Price of Steem may go down heavy after snapshot as Steem future is unsure after justin sun fiasco
- Hive tokens may or may not list in supported exchanges soon after snapshot
- Future of Hive is also uncertain as there are some fundamental problems in dPos consensus mechanism mostly related to corruption, vote buying , bot use etc. Will Hive solve that issue or just run like steemit but without the ninja stake. Oligarchy may eventually form in Hive as seen in the case of any Dpos chain like EOS and Tron.
- We can say that after witnessing many hardforks of bitcoin , decentralisation is just a buzz word used to hide the capitalist greed. Decentralisation doesnt solve any actual problem unless power is fairly distributed but sadly in most of the mechanism its either directly or indirectly related to the capital one holds
- True decentralised blockchains and open internet is work in progress and will take another 10-15 years to mature , right now its just experimentation phase which have been damaged by rampant scams and greediness
- Justin Sun and Steemit fiasco tells the story on your face that most people in this space don’t care for novel factors ,they are just after money and control.
- The good news is that steem community won at the end though they have to hardfork and leave the steem blockchain. If hive becomes successful and put a good model of governance ,many others will likely to follow. All the best to them.