“I made a really neutral explainer video just kind of walking through the announcement, and what’s happening; and what people can expect, and that post was just removed from Steemit.com. What’s really ironic about this is that centralization issues and censorship concerns are exactly why the Steem community is forking the chain and moving to Hive.”
The Steem community suggested the Hive hard fork on March 18. This was a community response towards the Tron CEO attempt to dominate the network. Back on February 14, Justin Sun acquired Steemit Inc, acquiring 20% of the total STEEM tokens supply. This acquisition instigated proposals of a hard fork from the Steem community.
Furthermore, on March 3rd Justin Sun influenced major cryptocurrency exchanges Binance, Huobi DM and his own Poloniex exchange to vote in his favour to drive out Steem network’s 20 node operators.
Following an adverse reaction by the Steem community; Huobi and Binance have both since withdrawn their votes and expressed their support of the Hive hard fork. Hive tokens will be airdropped at the ratio of 1:1 with the Steem tokens; however, it will exclude the founder's reward, which is held by Justin Sun.
In conclusion, the Hive hard fork seems to have drawn massive backing from the Steem community members. Within 16 hours of the Hive fork announcement, the value of STEEM surged by over 200%.
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