Tron Performs Hostile Takeover of Steem

Tron Performs Hostile Takeover of Steem


Tron bought Steemit (platform that uses a Decentralized Proof of Stake blockchain), but this has raised many criticisms.
Two days ago Justin Sun, CEO of the Tron Foundation, explained how they managed to save Steemit from bankruptcy.
The February 22 hacker attack aimed to freeze around 65 million of the fund used by Steemit to pay its developers, thus trying to put them out of the game and be able to actually destroy the Steem network and token.


After this, Justin Sun decided to intervene to avoid the collapse of both the network and Steem's price. To do this, it took advantage of the support of some centralized exchanges to obtain the majority of votes and therefore of tokens. These tokens were owned by the users who had kept them on various exchanges and therefore in fact the platforms without consulting the users decided to lend them to Tron to counter the attack.
Surely this went in favor of users who owned Steem but on the other hand tokens were used going against the concept of Proof Of Stake.


In a nutshell, to save the network from the attack, the system has proven to be centralized.
In essence, the fact that Tron bought Steemit showed how the centralization of exchanges allowed a single person to control the entire network.
According to Daniel Larimer, CTO of Block.one, a simple fork of the network was enough, such as happened with ETC or BCH.

 

 

[̲̲̅̅W̲̲̅̅h̲̲̅̅a̲̲̅̅t̲̲̅̅ ̲̲̅̅i̲̲̅̅s̲̲̅̅ ̲̲̅̅S̲̲̅̅t̲̲̅̅e̲̲̅̅e̲̲̅̅m̲̲̅̅'̲̲̅̅s̲̲̅̅ ̲̲̅̅c̲̲̅̅r̲̲̅̅e̲̲̅̅d̲̲̅̅i̲̲̅̅b̲̲̅̅i̲̲̅̅l̲̲̅̅i̲̲̅̅t̲̲̅̅y̲̲̅̅?̲̲̅̅ Do You Still Trust Them?

 

 

 

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