Free from Tron: Steemit’s Blockchain Fork Hive Outperforms Steem Token Value

vickeroto1993 (16)in #steemit • 5 years ago

NEWS
Jun 1, 2020

BTC$9550.23-0.03%ETH$238.20+0.24%XRP$0.21-0.51%BCH$243.15-1.92%BSV$193.90-1.93%

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BTC$9550.23-0.03%ETH$238.20+0.24%XRP$0.21-0.51%BCH$243.15-1.92%BSV$193.90-1.93%

NEWS
by Jamie Redman

Mar 29, 2020
Free from Tron: Steemit’s Blockchain Fork Hive Outperforms Steem Token Value
Free from Tron: Steemit’s Blockchain Fork Hive Outperforms Steem Token Value

For weeks now, the cryptocurrency community has been fervently discussing the recent acquisition of the Steemit blockchain. Skeptics believe that the Tron takeover has shown significant vulnerabilities with delegated-proof-of-stake (DPoS) projects. Following the takeover, the community still managed to fork the protocol and the new hard-forked blockchain dubbed ‘Hive’ has seen its token price outperform the value of Steem tokens.

Also read: In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

A slew of Steemit proponents believe the Steemit protocol was rescued from centralization and Justin Sun’s Tron project. On March 3, news.Bitcoin.com reported on how the first community-led fork had failed because a few exchanges used large swathes of DPoS tokens in order to stop the attempt. Then on March 20, community members forked the Steemit protocol and relaunched under the name ‘Hive’ using its own blockchain. Although after the fork took place, Hive’s project leaders had issues with moving steem tokens into the Hive chain. Further, the team discussed blacklisting certain Tron proponents who have a significant stake in the project. Today, hive tokens (HIVE) are trading for $0.21 per coin and steem tokens (STEEM) are selling for $0.17 per unit.
Steem trade volume, however, reported by exchanges has been around $2.3 million during the last 24 hours. Hive volume is considerably lower at the time of publication, with only $53K worth of 24-hour swaps. Despite the fork last week, the Tron-backed Steemit project hopes to convince users to come back to the Steemit project. Additionally, Steemit operators also admitted to censoring Steemit-based articles that discuss the Hive project. Essentially, the Tron-owned Steemit project leaders told the community that if they are divided, the project’s original goals will fail. The blog post states:

#writing #howto #business

5 years ago in #steemit by vickeroto1993 (16)

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