News

Steem Moves To Limit Justin Sun's Power After He Bought Steemit

Ramsey Baker

Summary: The people in charge of the Steem blockchain has performed a reversible soft fork Sunday, which stopped one of the biggest piles of tokens from voting. This move comes just a few days after Justin Sun’s Tron Foundation purchased Steemit, the blockchain’s most prominent app. According to a blog post from the fork explains that ...

The people in charge of the Steem blockchain has performed a reversible soft fork Sunday, which stopped one of the biggest piles of tokens from voting. This move comes just a few days after Justin Sun’s Tron Foundation purchased Steemit, the blockchain’s most prominent app.

According to a blog post from the fork explains that the potential involvement of a well-resourced entity is exciting. But the authors believe that in the early stages security is the most important task for witnesses. This is why a temporary protective protocol has been updated to keep the status quo currently established in regards to Steemit Inc's stake and its intended usage.

By Ramsey Baker

Last Update:

Tags: ,,,,
Link: Steem Moves To Limit Justin Sun's Power After He Bought Steemit   [Copy]
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 9 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 3 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 4 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 6 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 7 days ago
  • You need to login to comment.