TRON Foundation’s CEO Justin Sun have responded to the hardfork from Steem community and it is scheduled today May 20th, which will seize $5 million worth of STEEM tokens from the users wallets.
— Justin Sun (@justinsuntron) May 20, 2020
The Steem hardfork will seize the accounts and funds of former Steemit witnesses and stakeholders. This hardfork is the Steem community’s way of resisting take over from Justin Sun and TRON Foundation.
Earlier this year, Justin Sun bought Steemit and it was announced as a “strategic partnership” which led to a backlash of its community and led into creating Hive, a project created by a large group of Steem community members who have long looked to move towards true decentralization and to help develop the codebase.
In response to this Steem hardfork, the Tron Foundation’s CEO said:
“First of all, both Steemit Inc. and I are not involved in this hard fork. However, I do have sympathy for current Steem witnesses and can see where they are coming from. The Hive witnesses took their assets away from them by force, causing huge losses to them.
I am not involved in this decision in any way, but as a member of the Steem community, I am entitled to my own opinions. Since Hive took the assets from the Steem witnesses, @vitalik & the misleading media have been 100% supportive of it.
In my view, any media that covers this should interview the current #STEEM witnesses about their side of the story. As for Steemit Inc., many millions of dollars were stolen by Hive witnesses. We are working w/ law enforcement & will take actions to get our funds back!
We have lots of sympathy for all Steem witnesses who has suffered the same at the hands of the Hive witnesses.”
Justin Sun have been in conflict with Steem leaders and his decisions to seize tokens from Hive is part of a on-going conflict with Steem community since the take over last February of this year. The community have been skeptical about Justin Sun’s plans for Steemit and both sides wasn’t able find a way to work together.
The hardfork conversation even caught the attention of ETH founder Vitalik Buterin and responded to some Twitter users regarding the situation:
Shouldn’t every steem user just be moving to hive at this point?
— vitalik.eth (@VitalikButerin) May 19, 2020
Then Justin Sun responded again to the ETH founder: with this tweet:
— Justin Sun (@justinsuntron) May 19, 2020
What is Steem hardfork?
Steem, a popular blockchain and social blogging platform, will undergo a hard fork today which would stop accounts that object to TRON’s leadership and seizing about $5 million in STEEM in the process.
Last March 20th, the planned Steem hardfork that resulted in the new blockchain named “Hive”, launched by a group of former witnesses and stakeholders came up with a plan to start afresh on a new blockchain free from Sun’s influence.
With the said hardfork, Steem also stated that Hive blockchain took $16.6 million worth of HIVE tokens away from Steem supporters and deposited those funds into its own DAO account.
That being said, with the on-going conflicts between the two sides, Justin Sun assures everyone that they are doing what they can to retrieve those tokens back to the communitiy and continues to show leadership despite the hardfork situation. Cryptocurrencies should be safe within its blockchain and these hardforks shouldn’t be supported as this divides the each blockchain community and might lessen the value of its own token.
Tell us your feedback regarding the hardfork situation at Steem and comment down below.
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