Hive's story is strange

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From what I understand, Hive basically came about because a guy who had control over the platform tried to take control of it for himself and the users didn't like it and took the network for themselves through a hard fork, making today both Steem (network original social) and Hive (hard fork of the old network)

It's hard to understand, there's very little organized content about this fight within the network, most talk only briefly about the subject, so I don't know, and honestly, I don't even know if it's possible to explain all the nuances in detail. What exactly happened?

hive-104024 meme fun hive hard-fork proofofbrain cent pimp neoxian vyb
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There's an entire court cases about the drama that was resolved in weeks that just went by. There's so much craziness but the timeline goes like this:

  1. J Sun buys Steemit Inc, and thus gets >50% of STEEM
  2. J Sun institutes a bunch of sock puppet witnesses and essentially does a 51% attack of the chain
  3. The community try to dislodge these witnesses, but because politics and overwhelming vote power from them they cannot
  4. The community gathers and forks to form HIVE, after repeated attempts to speak about the integrity of the decentralisation of the chain, etc
  5. Lots of other stuff happened.

It would make an interesting movie.

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And what happened to the tokens that would have been in Justin Sun's account? Did he just take everything after the fork and sell it?

Thanks for explain

!PIZZA !MEME !HUG

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No, it was essentially a 51% attack on the blockchain. I have no idea what happened beyond that, as I moved away from STEEM to be on HIVE. I got rid of my STEEM tokens, and that was the end of that chapter, as far as I was concerned.

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(Edited)

Hive used to be Steem but it forked from that blockchain back in 2020. I wrote a post about that a few weeks ago on my alternate @holovision.cash account:

https://peakd.com/hive-167922/@holovision.cash/the-rise-of-hive-going-on-three-years-of-being-better-than-steemit

For the nuances you have to go back to a bunch of posts made back in 2020 and old internet articles buried in the search engine. Articles such as this one: https://decrypt.co/29416/steem-network-to-seize-5-million-from-its-own-users

Short version story: I think you probably understand staking. HIVE and STEEM are both delegated Proof of stake. You can't mine the token directly. New HIVE and STEEM are minted by "witnesses" of the blockchain.

The team of people that originally built Steemit had a huge amount of pre-mined STEEM tokens locked. Because this gave them a huge amount of influence over the blockchain certain assurances were made to the community.

Then a billionaire named Lex Luthor...Sorry, I meant Justin Sun came along and bought Steemit, INC with the plan to use a nuclear missile to create a massive earthquake that...Sorry, got him confused again with Lex Luthor.

Anyway, TRON blockchain "owner" Justin Sun bought Steemit, Inc. which came along with all of the pre-mined STEEM tokens that were locked away with assurances that Justin Sun wasn't interested in honoring anymore now that he "owned" the STEEM blockchain. With all that STEEM Justin Sun could, and I would argue has, made the STEEM blockchain more centralized.

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If you say it like that it sounds like this Justin Sun was a complete motherfucker haha

Thanks for explain, it helps me to understand this story

!PIZZA !LOLZ !MEME

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As the self-appointed Steem Pope, I issued this back in 2020 when Justin Sun and his sock puppets staged their coup against the community. It was a mess, but the community moved here to Hive and we have prospered while Steemit stagnated.

writ of excommunication.png

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