Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from
Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
, Author: Yilun Cheng, Compiler: Wendy, released with authorization.
Decentralized content platform Steemit recently partnered with the Tron Foundation. It used the resources of exchanges such as Huobi, Binance and Poloniex to undo the most recent network change, sparking outcry from the community.
On February 14th, Steemit and TRON reached a "strategic cooperation". The chairman of Steemit announced on social media that he had sold Steemit to Justin Sun, the founder of TRON.Concerned that TRON might have too much power on the network, on February 24, the Steem community decided to deploy a soft fork. This soft fork can invalidate the voting rights of a large number of tokens held by Tron and Steemit.However, this "soft fork" failed to prevent a "malicious takeover" on Monday - with the help of collective voting rights for tokens held by exchanges such as Huobi, Binance, Poloniex, etc. effort.
According to a series of
account list
, these three exchanges collectively gathered more than 42 million STEEM Power (SP).
By holding a large amount of stake (pledge tokens), the Steemit team was then able to unilaterally implement hard fork 22.5, thereby regaining their stake, and by voting all the top 20 community witnesses (witnesses) - responsible The server operator that produced the block - excluded, the top 20 operators all use the account @dev365 as the agent. In the current list of Steem witnesses, Steemit and TRON witnesses occupy the top 20 positions.
According to an article about the hard fork posted on the Steemit website, the Steemit team — made up of “TRON and the Steemit Company” — defended its actions, calling soft fork 22.2 “immoral and against the rules.” .
“In the next 4-6 weeks, the Steemit team will use voting rights to restore order in the community while providing an open channel for community members and witnesses. After 4-6 weeks, the Steemit team will restore normalcy and reach consensus in the community. After consensus, return governance to the community.” According to existing regulations, STEEM cannot be withdrawn for the next 13 weeks, which means that during this time, customers will not be able to access their assets. To fix this, the Steemit team is deploying an emergency hard fork to reduce this time to 1 to 3 days.
Binance CEO Changpeng Zhao stated on Twitter that in light of the community’s response, Binance will withdraw its voting stake.
“I was aware of this upgrade/hard fork in advance and approved it. This happens quite often in projects and we usually support it. Based on your feedback, we may cancel the vote, which requires several in different locations. It may take a little time.” When someone asked whether the exchange would benefit from this network update, Changpeng Zhao added, “We didn’t receive any money, thinking it was just a regular upgrade/hard fork .”
secondary title
Resist hostile takeovers, community responds
Community member @jeffjagoe was among the first to sound the alarm about the move, accusing the exchange of using customer funds to facilitate the move.
“These stakes are basically pre-mined and supposedly used for community building. Witnesses decided to freeze these funds to prevent malicious takeover of the network. But they forgot that Justin Sun has a lot of money and can buy exchange partners with this money. "
Ethereum co-founder Vitalik Buteri also joined the discussion and gave his take on the event.
