AFTER STEEM VOTING CONTROVERSY AND HARDFORK, BINANCE LISTS HIVE

The cryptocurrency world is no stranger to drama, and the events surrounding Steem and its subsequent hard fork leading to the creation of HIVE are a prime example.This saga, involving a controversial governance vote, a community uprising, and ultimately, a split in the blockchain, culminated in a major exchange, Binance, listing HIVE. After Steem Voting Controversy and Hardfork, Binance Lists HIVESource: CointelegraphPublished onThis article delves into the timeline of events, exploring the reasons behind the Steem hard fork, the role Binance played, and the implications of listing HIVE on such a prominent platform. In response to customer demand, leading cryptocurrency exchange Binance launched trading support for the community-led Steem (STEEM) hard fork Hive (HIVE) onIt wasn’t just a simple listing; it represented a significant shift in the power dynamics within the crypto community and raised important questions about blockchain governance and decentralization. After Steem Voting Controversy and Hardfork, Binance Lists HIVE cointelegraph.com 2 more, UTCThe listing of HIVE on Binance, just a month after the controversial events, signals a potential turning point for the newly formed blockchain and its community, demonstrating a growing acceptance and interest in a project born from adversity. Binance has launched support for HIVE the month after the exchange participated in a controversial governance vote that sparked the Steem hard fork Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.Get ready to dive deep into this fascinating story, exploring the key players, the contentious decisions, and the resulting landscape of the Steem and HIVE ecosystems.

The Steem Controversy: A Governance Showdown

The story begins with Steem, a blockchain-based social media platform that rewards users with cryptocurrency for creating and curating content.Steem operated under a delegated proof-of-stake (DPoS) system, where token holders vote for witnesses (block producers) who validate transactions and maintain the network.However, things took a turn when Justin Sun, the founder of Tron, acquired Steemit Inc., the company that originally developed the Steem blockchain. 為響應客戶需求，領先的加密貨幣交易所 Binance 於This acquisition gave Sun a significant stake in Steem's voting power, raising concerns within the Steem community.

The issue arose when Sun allegedly used his acquired stake and the influence of major exchanges, including Binance and Huobi, to vote in new witnesses who were aligned with his interests.This move was perceived by many in the Steem community as a hostile takeover, as it threatened the decentralized nature of the platform and the established governance structure.

The Community Responds: Hard Forking to HIVE

In response to what they saw as a centralized power grab, a significant portion of the Steem community decided to take action. After receiving the feedback from the STEEM community, we have unvoted. Binance stays neutral and has no interest in on-chain governance beyond the Binance ecosystem. We hold a supportive position of normal upgrade/hard fork and will continue to do so in the future.They orchestrated a hard fork, creating a new blockchain called HIVE. En respuesta a la demanda de los clientes, la exchange de criptomonedas l der, Binance, lanz el 27 de abril el apoyo comercial a la bifurcaci n dirigida por la comunidad de Steem (STEEM), Hive . HIVE puede ahora negociarse contra Bitcoin (BTC), Tether (USDT), y Binance Coin (BNB), sin embargo, los retiros y dep sitos no se activar nA hard fork is a radical change to a blockchain's protocol that effectively creates two separate blockchains. En r ponse la demande des clients, le principal change de crypto-monnaie Binance a lanc un support commercial pour le hard fork Hive (HIVE) dirig par la communaut Steem (STEEM) surIn this case, the HIVE blockchain was created as a fork of the Steem blockchain, but with a key difference: it excluded the stake held by Justin Sun and his allies.

This act of defiance was a bold move, demonstrating the community's commitment to decentralization and their willingness to take control of their own destiny. Skip to main content Bitcoin Insider. MenuThe hard fork resulted in a new cryptocurrency, HIVE, which was distributed to Steem holders (excluding those deemed to be complicit in the alleged takeover attempt).

• Key Reason for the Hard Fork: To remove what the community perceived as centralized control by Justin Sun and his aligned entities.
• Goal of HIVE: To create a truly decentralized and community-governed blockchain for social media and other applications.
• Impact on Steem: The hard fork significantly impacted the Steem blockchain, dividing the community and leading to a decline in its overall activity.

Binance's Role: From Controversial Voter to HIVE Lister

Binance, one of the world's largest cryptocurrency exchanges, found itself in the midst of this controversy. ά ή ώ, ί ή ά BinanceThe exchange participated in the governance vote on the Steem blockchain, allegedly using customer funds to support Justin Sun's preferred witnesses.This action drew heavy criticism from the Steem community, who accused Binance of compromising its neutrality and undermining the principles of decentralization.

Facing backlash and accusations of siding with a centralized entity against a decentralized community, Binance later reversed its stance and unvoted the witnesses. Em resposta demanda dos clientes, a Binance, exchange l der de criptomoedas, lan ou suporte comercial ao Hive, hard fork do Steem, liderado pela comunidade em 27 de abril. Agora, o HIVE pode ser negociado com Bitcoin (BTC), Tether (USDT) e Binance Coin (BNB), no entanto, saques e dep sitos n o ser o ativados at 29 de abril.The exchange issued a statement asserting its neutrality and stating that it has no interest in on-chain governance beyond the Binance ecosystem.

However, the damage was done, and the incident highlighted the potential risks associated with exchanges participating in blockchain governance, especially when they hold significant amounts of customer funds.

Listing HIVE: A Symbolic Move?

Just a month after the controversial vote, Binance listed HIVE on its exchange. In response to customer demand, leading cryptocurrency exchange Binance launched trading support for the community-led Steem hard fork Hive on April 27. HIVE can now be traded against Bitcoin (BTC), Tether (USDT), and Binance Coin (BNB), however, withdrawals and deposits will not go live until April 29.This move was seen by some as an attempt to appease the HIVE community and demonstrate a commitment to supporting decentralized projects. استجابة لطلب العملاء ، أطلقت منصة تبادل العملات المشفرة الرائدة Binance دعمًا تجاريًا لـ Steem (STEEM) هارد فورك Hive (HIVE) الذي يقوده المجتمعOthers viewed it as a purely business decision, recognizing the potential of HIVE as a viable cryptocurrency with a strong and engaged community.

Regardless of the motivation, the listing of HIVE on Binance was a significant event, providing the new cryptocurrency with increased liquidity and exposure to a wider audience. Als Reaktion auf die Kundennachfrage startete die f hrende Kryptow hrungsb rse Binance die Handelsunterst tzung f r die von der Community gef hrte Steem (STEEM) Hard Fork Hive (HIVE).It also signaled a potential shift in Binance's perspective on the Steem/HIVE situation, perhaps recognizing the strength and resilience of the HIVE community.

HIVE was initially listed against Bitcoin (BTC), Tether (USDT), and Binance Coin (BNB), providing users with various trading options.However, withdrawals and deposits were initially delayed, adding to the anticipation surrounding the listing.

The Impact of the HIVE Listing on Binance

The listing of HIVE on Binance had several significant impacts:

• Increased Liquidity: Listing on a major exchange like Binance significantly increased the liquidity of HIVE, making it easier for users to buy and sell the cryptocurrency.
• Greater Exposure: The listing exposed HIVE to a much larger audience of potential investors and users, raising awareness of the project and its goals.
• Validation of HIVE: The listing provided a degree of validation for HIVE as a legitimate cryptocurrency project, demonstrating that it had the potential to succeed despite its controversial origins.
• Price Appreciation: Following the listing, HIVE experienced a significant surge in price, reflecting the increased demand and attention the cryptocurrency received. Bitcoin vs. Marx: Two Competing Geopolitical Domino Theories Marxism and Bitcoin have one thing in common, the idea that a radical change in the structure of society will happen iSome reports noted pumps of 400% following the Binance listing.

However, the listing also raised some questions:

• Was it a Genuine Show of Support? Some members of the community questioned whether Binance's listing of HIVE was a genuine show of support for the project or simply a calculated business decision.
• What Were Binance's Long-Term Intentions? It remained unclear what Binance's long-term intentions were regarding HIVE and whether the exchange would continue to actively support the project.

HIVE's Success Factors: Community and Decentralization

Despite the challenges and controversies surrounding its creation, HIVE has demonstrated remarkable resilience and has achieved a degree of success. Hive has just been listed on a major exchange offering investors new opportunities at Pan African Exchange. Buy now at Pan African Exchange.Several factors have contributed to this success:

• Strong Community: HIVE benefits from a strong and passionate community that is deeply committed to the project's goals.This community has played a crucial role in developing and promoting the HIVE ecosystem.
• Decentralized Governance: HIVE operates under a decentralized governance model, giving the community a greater say in the direction of the project. After Steem Voting Controversy and Hardfork, Binance Lists HIVEThis has helped to foster a sense of ownership and empowerment among HIVE users.
• Focus on Innovation: The HIVE community is actively developing new applications and features for the blockchain, demonstrating a commitment to innovation and continuous improvement.

The Future of Steem and HIVE: A Tale of Two Blockchains

The Steem/HIVE saga highlights the importance of decentralization and community governance in the cryptocurrency space. Binance, which has alternative goals, voting on cardano is akin to giving Iranian Citizens the right to vote in Israeli elections. There is an obvious conflict of interests and danger to Israelis if that was to happenWhile Steem continues to exist under the ownership of Justin Sun, HIVE represents a community-driven alternative that prioritizes decentralization and user empowerment.

The future of both blockchains remains uncertain, but the story serves as a cautionary tale about the potential risks of centralized control and the power of a community to take action and create its own destiny.

Lessons Learned from the Steem/HIVE Split

The Steem/HIVE split offers several valuable lessons for the cryptocurrency community:

1. Decentralization is Crucial: The events surrounding Steem demonstrate the importance of decentralization in preventing centralized control and ensuring fair governance.
2. Community Matters: A strong and engaged community is essential for the success of any blockchain project.
3. Governance Mechanisms Must be Robust: Blockchain governance mechanisms must be robust and resistant to manipulation by powerful entities.
4. Exchanges Play a Critical Role: Cryptocurrency exchanges have a significant influence on the cryptocurrency ecosystem and must act responsibly and ethically.

HIVE Today: What to Know

HIVE has grown to be a considerable ecosystem with a variety of applications built on top of the blockchain. El anuncio llega un mes despu s de que Binance y Huobi movilizaron fondos de los clientes para apoyar al fundador de Tron y nuevo propietario de Steemit Inc, Justin Sun, en su aparente intento deThis includes social media platforms, gaming, and various DeFi (Decentralized Finance) applications.Here's what you should know about HIVE today:

Frequently Asked Questions About the Steem Hard Fork and HIVE

Here are some frequently asked questions about the Steem hard fork and HIVE:

What exactly is a hard fork?

A hard fork is a fundamental change to the protocol of a blockchain that creates two separate versions of the blockchain. Second. In voting in real life the own opinion is hidden to everyone else until the voting is done. So no one knows the outcome before the voting ends. Parties can try to cheer for their direction but nobody knows how it played out before the voting ends. I think this should be the way DAO voting should work too. Love.It's akin to upgrading software, but in this case, the old software is incompatible with the new software, resulting in two distinct chains.

Why did the Steem community hard fork to HIVE?

The Steem community hard forked to HIVE due to concerns over centralized control following the acquisition of Steemit Inc. by Justin Sun.The community felt that Sun was attempting to manipulate the blockchain's governance and take control of the network.

What happened to users who held Steem before the hard fork?

Users who held Steem before the hard fork generally received an equivalent amount of HIVE, with the exception of accounts that were deemed to be supportive of Justin Sun's efforts. After Steem Voting Controversy and Hardfork, Binance Lists HIVE - Bitcoin MashupThese accounts were excluded from the HIVE airdrop.

Is HIVE truly decentralized?

HIVE is generally considered to be more decentralized than Steem under Justin Sun's control. У відповідь на попит клієнтів провідна криптовалютна біржа Binance запустила торговельну підтримку хардфорку Steem (STEEM) Hive (HIVE) на сайтіThe HIVE community is actively involved in the governance of the blockchain and is committed to maintaining its decentralized nature.

What are the main differences between Steem and HIVE today?

The main difference is ownership and control. p This week the Layer1 crew discusses the latest Bitfinex Social Media platform, a BTC Mining debate going into halving, $HIVE pumping 400 43;% on Binance listingSteem is controlled by Justin Sun, while HIVE is controlled by its community. Binance lists HIVE after voting controversy. The announcement comes the month after Binance and Huobi mobilized customer funds to support Tron founder and new Steemit Inc owner Justin Sun s apparent attempted takeover of the Steem network ousting Steem s block validators in favor of Sun.This difference has led to different development paths and priorities for the two blockchains.Steem has seen less community-driven development, while HIVE is thriving with innovation.

Conclusion: A Testament to Decentralization

The story of the Steem hard fork and the subsequent listing of HIVE on Binance is a compelling illustration of the power of decentralization and the resilience of a committed community. lt;p gt;After purportedly being misled into supporting Justin Sun rsquo;s attempted takeover of Steem, Binance has launched support for HIVE, the product of that hardfork lt;/p gt;It highlights the inherent risks of centralized control in the cryptocurrency space and underscores the importance of robust governance mechanisms.While the events were controversial and disruptive, they ultimately led to the creation of a new blockchain, HIVE, which embodies the principles of decentralization and community empowerment.The listing of HIVE on Binance, after the initial controversy, showed the exchange's (perhaps reluctant) acknowledgement of the strength and influence of a decentralized community.The key takeaway is that the fight for decentralization is ongoing, and the cryptocurrency community must remain vigilant in protecting the principles that underpin this transformative technology.Will HIVE surpass Steem in the long run?Only time will tell, but the project has certainly cemented itself as a case study in how a community can effectively resist centralized control and forge its own path.The story serves as a valuable lesson for all participants in the cryptocurrency ecosystem, emphasizing the importance of decentralization, community, and ethical governance.Consider researching the HIVE blockchain, exploring its applications, and actively participating in its vibrant community to contribute to the ongoing evolution of decentralized technologies.