First of all, the CoinSyncom team wants to congratulate Hive for the successful hard fork and launch of the blogging platform. We sincerely hope that Hive will fulfill all freedom-loving bloggers' appetites as well as nurture the true spirit of decentralization.
What has been happening during the last month with Steemit was a sad example of everything wrong with the crypto and blockchain industry at the moment. Nevertheless, since we don't want to dwell on negativities too much, let's just say that all of us should be thankful to have such a level of decentralization that there always is an option. As the (ex)Steemit community once again confirmed, if a single person (no matter how powerful) attempts to centralize the ecosystem (and the main part of it are users), the community will denounce him. This was best demonstrated by @gerbino, @andrarchy, @roadscape, and @vandeberg.
CoinSyncom has been reporting about the ongoings around Steemit as objectively as we could. In the future, we'll continue doing so and, of course, start using the new and (hopefully) better HiveBlog.
Obviously, the hard fork was inevitable because, as we stated in the article:
"If not strictly illegal, Sun’s move is perhaps unethical and not in accordance with the spirit of decentralization. What remains to be seen is will the community stay strong or bend the knee before the establishment. On the other hand, if Sun won’t budge, will they consider abandoning the platform entirely?"
We honestly hope that you will be able to resolve all those tiny issues that plagued Steemit (we all have to admit that there were a few, right?) and honor all the (unwritten) postulates of decentralization.
What Holders Should Think About...
We understand that Hive got the support of CZ and Binance, which is going to immediately list your native token. However, our opinion is (and we are an 80% opinionated journal) that, in the aftermath of the Justin Sun drama, cryptocurrency holders would do good to think long and hard if they really want to keep their coins on centralized exchanges. As we see it, once a crypto holder willingly chooses an exchange to be his custodian, he effectively renounces the right to his private keys. Thus, allowing the exchange act as the coins' owner.
The Steemit example was a blatant example of the already famous phrase: "Not your keys - not your crypto".
Therefore, this way, we feel the need to urge all cryptocurrency holders to consider twice before letting a centralized entity control their decentralized assets.
We Wouldn't Be Journalists if We Didn't Ask Questions, Right?
Ah, the questions, yes...
There are more than a few we would love to ask @innerhive. Nevertheless, we'll try not to get into too much detail.
Justin Sun is, like all other STEEM holders, probably entitled to his chunk of new coins. Is there a mechanism in place to prevent something similar from happening again?
Does Hive have something similar to SMT capability?
And, lastly, a selfish one...
We are aware of the fact that Wordpress auto-poster for Steemit was developed by the third party. Nevertheless, it would be fantastic to have something similar for Hive. Are there any such plans at the moment?
In the end, it would be fantastic if the new team could spare a bit of time for an interview. Whaddya say? It would be much appreciated.