Every action causes and equal an opposite reaction....
An hour ago 3 Chinese exchanges used customer Steem they held to power it up, take over the Steem blockchain and return to Steemit Inc centralised control:
- Binance had 32M STEEM
- Houbi 10M
- Poloniex 2.2M
They used an account @dev365 to replace all the top witnesses with unknown accounts by setting it as proxy for around 46M Steem Power which had been powered up by the above exchanges.
They then did a hardfork 22.5 which reinstated the ninjamined Steemit Inc accounts which had been frozen by HF22.2, which then also voted for the new witnesses.
What this means for the future of the Steem blockchain and the great community that we have here, I don't know.
The old Top 20 witnesses, who represent some of the most talented active people on Steem have been shafted.
They did HF22.2 "to protect the community" but the war that has started may now divide or destroy it.
If they leave Steem because of this, then much of what has been created here will be lost.
Lets hope that some compromise settlement can be reached.