Crypto Diary #4 - 2020 - Part 1: Year of Fracture

in LeoFinance3 years ago

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And arrive 2020!

A year full of twists and turns!

Bitcoins, an active market index, slowly grew again at the beginning of the year ...

But the steem continued to fall.

And confirmed the rumors of late 2019, Steemit Inc was sold to Justin Sun.

Justin Sun is an important, if controversial, figure in the crypt world. Founder of Tron, he had made major acquisitions like Bittorrent. The tron ​​asset being one of the assets with the highest market transaction value. This generated some expectations about Steem's future.

But Tron's protocol technology is always in question, and we have little information about its capabilities.

In any case, several statements by Justin Sun started to increase tension in the community that used Steem. Mainly from developers.

It remained to me that he had no idea what he was buying. He was making a mess between dapp Steemit and the blockchain Steem. He said he would pass the active steem to Tron. It was a mess.

In addition there was an account with a large fund in steem, which a portion of the community said had an agreement with Steemit Inc that would be an account that would be used for the development of the platform.

Ned denied that deal, important witnees like Agroeed published posts with texts about the deal. Justin Sun should have no idea of ​​any agreement, and like Ned, he did not engage with the community.

Until led by some dissatisfied witnees, a reversible soft fork was made for some accounts, including the fund that the community / witness said was important to Steem's development.

Justin Sun announced that he was suffering from a hacker attack, even though he knew he wasn't, and convinced some exchanges with that argument. Doing a sybil attack with fake accounts to regain control of the platform and fork. Event that became known as "Steem Hostile Takeover".

Some dialogues have started. They did not have satisfactory agreements for both parties.

Leading developers on the Steemit Inc team resign.

Led by Blocktrades, perhaps resentful that Ned did not sell Steemit Inc to them, and with the support of most of the witnees, there was a break.

Justin Sun even using fake accounts and resources from major exchanges like Binance and Huobi, was losing space to a community mobilized by the old witnees. An intense dispute has completely fragmented the community around the protocols.

And a hardfork appears, the blockchain Hive is born. Excluding accounts associated with Justin Sun support.

So they opened two paths: Steem and Hive.

So a little fish like me keep te question, where to go?


If you liked it, make your own diary too! Lets grow together! Leave it in the comments or mark me to share and vote!


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Matheus Guimarães
https://linktr.ee/matheusggr

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