Steem Community Fighting
Steem community is fighting on full mode against Justin Sun the promoter of cryptocurrency Tron.
Justin Sun is trying to takeaway the governance of Steem blockchain using help of big exchanges ( though many exchanges have now power down there votes by severe backlash by wider crypto community. As this community is the one who trades in there exchanges and make them money, they understood that going against them may force users to avoid there platforms alltogether).
Hostile takeover of Steem
Justin Sun bought Steemit Company not steem blockchain but thought with it he will get a right on governance through ninja mined tokens which he got by buying the company which were never meant for voting but just for development purposes. It looks either he didn’t check the deal with steemit cofounder or he is forcefully doing it.
Need for great Dex
Steemit fiasco also again showed that how much dire need of decentralised universal exchange is there ( a decentralised exchange which can support nearly any blockchain and crypto compared to single chain supporting dex like those built in Ethereum) .
Current Dex Problem
Decentralised exchange at present lacks speed , user interface and experience and liquidity and most of them are even not sufficientely decentralised ,for e.g Binance dex.
Ethereum based dex though have improved considerably but they support only erc based tokens and a solution for cross chain decentralised exchange is yet to be find.
Steemit employees resigned and fighting
Many employees at steemit resigned the same day justin sun tried hostile take over using big exchanges.
Here Andrew Lavine asks all steem community to unite and fight against big exchanges and big guys.
What i wonder that most people in to the cryptocurrency space is just going after quick profiteering and shady practices in name of decentralisation.
Dream of Decentralised Internet
In 1990’s when internet was conceieved ,it was meant to be open and decentralised but due to same quick profiteering mind we reached where we are today, heavily centralised system, user data misused heavily by big corporations, no chance for small startups to become independent as they are most of the time eaten away by big corporations making tech space a big monopoly.
Is this decentralisation wave is just a new cycle to get profit on same sentiments, however this time we have got an opportunity to fight somewhat against the big corporations and big high net worth individuals if sufficient numbers of people unite.
Dpos is bad consensus for decentralization
The Dpos is not a good consensus mechanism for decentralisation as proved by the fiasco but if many people come together and vote for good witnesses the steem blockchain can be freed from clutch of centralisation somewhat , though long prospects looks bleak if they don’t improve the protocol if somehow they save themselves from Justin Sun this time.
So let’s unite get some steem and vote for good witnesses.
Tron is centralised
Tron is a fully centralised blockchain in which 54% votes are controlled by Binance. Binance CEO and Justin Sun are close friends and gives a hint of collusion. Block producers are free to reward the voters part of block rewards., which means vote buying is the first mantra of Tron blockchain.
So there will never be any significant development happen in this blockchain as mostly block producers will be fighting for giving most rewards to users and getting some share of block rewards for themselves without contributing anything significant to the blockchain . Most tron users also seem to care just about rewards and money than any serious development which is clear by seeing only high risk,ponzi and gambling dapps running in Tron blockchain. Justin Sun himself promotes such schemes.
Steem on vote for decentralisation
If people want the decentralisation they need to actually take part in governance and make there votes count not just in trading which tells that most people doesn’t care for decentralisation and are in it for just money. if you somehow are in for tech and philosphy and social impact of blockchain , make your voice count. It’s now or never.