Steem Implements Soft Fork, Freezes Around 20 Accounts Of Former Witnesses

The frozen accounts had 17.6 million Steem whose worth was approximately $3.2 million, which is 5 per cent of the total supply of Steem.

On April 04, 2020, a new user “softfork2288” on Steemit proposed the soft fork of the accounts.

Threat By HIVE

The Steem decided to freeze the not more than 20 accounts in response to the uncertain threat given to the Steem Blockchain by the leaders and the main influencers of HIVE.

Steem mentioned that the accounts have been ceased based on three criteria, “Accounts that ran the version 0.23 during the Hardfork on Steem and were still in the Top 20 rank, shortly before the Hardfork. Accounts that proxied or directly voted to more than 10 witnesses running the version 0.23 on the Steem Blockchain during the hardfork with high influence. Accounts directly associated with operating these accounts.”

New User Handling Steem’s Post 

The new user, while targeting the former top Steem witnesses, in the post mentioned that the Steem community should support the soft fork to protect it. The user also stated that before hardfork was implemented, around 50 percent of the witnesses were using the hostile version of Steem i.e., 0.23 version. Presently, if the same version would have been running then it had broken the Steem blockchain because these witnesses would have stopped working for Steem after the Hardfork.

According to a report, after weeks of tension between HIVE and Steem, the former hardforked off itself, on March 20, 2020. Before that in February 2020, the founder of Tron, Justin Sun bought Steemit Inc and 20 percent of Steem supply. On April 06, 2020, the price of HIVE has come down by 50 percent.

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