Tron News Today – according to reports, a civil war between Steemit’s users and Tron founder and Chief Justin Sun appears to be threatening to destroy the Steemit social network. Steemit has been long prized as an alternative to Reddit a decentralized one at that. This content highlights what we know so far about the matter.
Sun recently attempted to take control of the Steemit social network claiming he wants to protect the site, which according to him was subverted by “hackers.” In fulfillment of his plans, Sun bought Steemit.com last month. Sun’s plan has always been to move the Steemit platform to Tron, his Blockchain network.
With this purchase, Sun acquired 65 million Steem tokens ($12 million). These tokens were pre-mined before the network was launched and originally belong to Ned Scott, Steemit’s former owner. Sun was hoping to use the tokens he acquired to take control of the Blockchain and the site to migrate them to Tron.
However, in retaliation, the Steemit community wasn’t in support of Sun and voted for a soft fork on their Blockchain. This soft fork would stop Sun from using his tokens until he made his plans for the network known. Sun hoped that after enlisting help from exchanges, he will be able to do an end-run over the soft fork. However, at press time, Binance and Huobi, have withdrawn their support from the accord. They announced that wanted no part of the war. Poloniex the other exchange involved in the plan hasn’t given a statement yet.
However, in Sun’s defense, the Steemit platform was not in good shape. Steemit has been an example of why DPOS can leave centralized power within the early adopted minority and the wealthy, according to one Steemit contributor called Alexander Klein. One early user of Steemit, Joshua Bouw, said Steem coins were held back by users who became rich during the platforms’ early days. According to him, they held Steem tokens to use them to control the platform to the detriment of the site.
The people in one pro-Tron Telegram group also defended Sun’s position on the matter. They consider Sun’s actions democratic. All in all, whether you are a pro-Tron or a pro-Steemit, this debacle raises many questions regarding the authority that exchanges will have to influence Blockchain networks and the type of countermeasures that can be used. Everything will be trashed out at Friday’s town hall.