Did you see the play on words I did there with the title 😂😂😂
For people like me who do not like the Tron founder Justin Sun, I was definitely not happy when news broke out that he had taken over Steemit, the biggest Crypto content curation site. Personally I felt he should focus on his Tron (TRX) project first before wandering off to New territories. Well the result of the takeover is the drama we have been watching play out everyday.
Funny enough, it did seem like Sun had good plans for Steemit. His plan was to move it over to the Tron Blockchain. But there was two problems, first Steemit was already hosted on the STEEM Blockchain, and two moving it to the Tron Blockchain would centralise the decentralised platform. Decentralised publishing platforms gave the users the chance to freely express themselves without fear of getting censored or banned. And while STEEMIT had it problems, it was still the number one publishing platform in the Crypto space.
The resulting chaos was as horrible watching it as it was experiencing it. Justin Sun used his shares of Steemit from the takeover to try and depose the STEEM witnesses. He also partnered with exchanges like Binance, Huobi and others who gave their share of STEEM which was for their users. This exchanges however turned when the community spoke against it. Well he had to take a U-turn and the witnesses were re-instated. Well they turned against Sun and they created a Hard Fork.
We all saw the hard Fork last week Friday when they created a new coin called Hive. More than 70% of the development team and almost all of STEEM's enthusiastic users have ported over to Hive. Binance and Huobi, two exchanges that previously supported Sun's takeover have come out to publicly back Hive and there is even talk that they might list the token soon. While many think they are doing this to save their names, I really don't care it's all good publicity for Hive anyway. Could there still be more drama in store with the whole STEEM and Hive brouhaha. I've seen someone say that Huobi, CZ Binance and Sun all have one thing in common, they are Chinese, and they might be plotting something. Well let's see if there's a twist in this story (I'm willing to bet there is), for now we watch on.