The crypto world is always a dynamic one and ever-changing particularly with events quickly shaping up within its active community.
The last 24 hours has been a feisty one on crypto twitter with a number of key personalities having clashes regarding the fallout of Justin Sun’s takeover of popular crypto media blockchain Steem.
Newslogical had reported in February regarding the acquisition of the Steemit community by Tron. However, the community of users have enjoyed a feisty relationship with Justin Sun with a group of members attempting to take control of the platform shortly after Justin Justin Sun acquire Steemit, the most important platform on Steem.
Vitalik Buterin at the Eye of the Storm Following Hive Suggestion
Hive is the blockchain platform that was conceived recently after a controversial hard fork on the Steem blockchain. After the fork, Steem new stakeholders decided to seize existing Steemit tokens from legitimate stakeholders on the Steem blockchain leading to a backlash from the Steemit community.
Yesterday, Ethereum co-founder Vitalik Buterin made a suggestion that Steem users should migrate to Hive blockchain.
This quickly brought a sharp rebuke from Justin Sun who quipped that all Ethereum users should also migrate to Tron. The drama continued with exchange of words between the supporters of the two involved parties.
Buterin laugh off a claim made by a Twitter user, Charlie Foxon, that Ethereum stealing money from people.
This prompted Justin Sun to call the Ethereum chief the greatest thief of all time due to the amount involved.
Centralization of Crypto Projects – a Common Theme
The acclaimed problem that has been plaguing Steem in recent months highlights that the project may be working against the evils that Satoshi tried to fight against which is the centralization of financial projects.
The cryptocurrency industry is fast falling in danger of becoming what it claims to fight against which is centralization. Sun takeover of Steem, supported by the top exchanges, spurred claims that the crypto icon is trying to centralized the project.
However, it is up to the crypto community to ensure that a form of semblance is brought back and the Hive blockchain could be the decentralized response to the Steemit blockchain.