ADVERTISEMENT

Hive Blockchain successfully launched – Victory over TRON’s Justin Sun?

  • The Hive blockchain has launched successfully, as planned, after its Steem hard fork. On March 20th at 2:00PM (UTC). The network has produced its first block and transactions. 
  • Soon there will be a new hard fork to introduce improvements to the Hive blockchain and activate new features.

The Hive blockchain completed its hard fork from Steem, as scheduled, on March 20th around 2:00 PM (UTC). According to a blog post by the developers of Hive, the launch of the blockchain went particularly smoothly, considering the pressure and effort in such a short time.

A victory against Justin Sun

Hive is the result of a team of developers who belonged to the Steem community. These developers created Hive as a response to the actions of TRON’s CEO, after the purchase of the Steemit Inc. content platform, as the Hive team stated:

Hive came alive, slowly worked through the operations that needed to done, produced first blocks and transactions, and has been moving steadily ever since. No stalls or crashes, fast blocktimes, all good. It has been a huge win for the whole community to start us off!

Tensions between TRON CEO Justin Sun and the Steem community reached a critical point when the Steem community tried to activate a soft fork that was intended to deprive Justin Sun of ownership of an estimated 20% of all Steem tokens that were pre-mined by Steemit Inc. However, Sun leveraged his influence on the exchanges Binance, Poloniex and Huobi to take control of the witnesses within the Delegated Proof of Stake (DPoS) of Steem.

After the Hive team had completed the hard fork, they also claimed to have made history. The team stressed that they are a community that has chosen the values and beliefs of decentralization. The community could have remained on the solid foundation that working with TRON would have provided, but they chose to build a “blockchain for the community, from the community”.

Over the next few weeks, the team and the community of Hive will work to complete some important milestones. For example, they are expected to make another hard fork to improve Hive and activate new features. In addition, the Hive team will work to expand the blockchain ecosystem and be listed in crypto exchanges. At the time of publication, Hive has been listed by the exchanges Bittrex, ProBit and Ionomy.

On the other hand, the valid accounts on the Steem blockchain received an airdrop of Hive Tokens during the boot process. However, this excluded all Steem accounts that were allegedly involved with Sun in the “hostile takeover”. The hive developers also excluded the accounts of the pre-mined STEEM tokens to prevent Sun from replaying his power via the new tokens on the new blockchain.

Whether this will be the end of the war between the Steem community and TRON’s Justin Sun remains to be seen. In particular, it will be exciting to see which platform – Steemit or Hive – will prevail in the coming weeks and be more accepted by the users.

The complete list of excluded users can be viewed here.

Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?

Our top recommendation: Buy Bitcoin, Ethereum, XRP and Cardano from eToro
Brokerddtrgegr
Etoro

✔️ Buy 15 cryptocurrencies
✔️ Bitcoin CFD with leverage
✔️ Insurance up to €20.000
✔️ PayPal, SEPA, credit card

etoro
**= Risk warning: 62% of retail CFD accounts lose money when trading CFDs from this provider.
Last updated on

About Author

Avatar

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

Comments are closed.

Follow us to the moon!

Send this to a friend