Hard fork Hive outperforms Steem

2022-01-13 区块链达人

CEO Justin Sun and a demonstration of what decentralization stands for. As a glance at the charts of both cryptocurrencies reveals, Hive also managed to outperform its predecessor in terms of price development during this period.In an attempt to prevent Sun from manipulating Steem’s network, a soft fork was implemented that aimed to deprive Justin Sun of ownership of an estimated 20% of all Steem tokens that were pre-mined by Steemit Inc. The CEO of TRON, however, used his influence on Poloniex, Huobi and Binance to take control over the witnesses of Delegated Proof of Stake (DPoS). In the aftermath, the community decided to fork Steem and create Hive.

In addition, the HIVE token reached its highest price of $0.336 on 27 March. With this, HIVE exceeded the annual high of STEEM of 0.297 dollars. Nevertheless, STEEM still exceeds the trading volume of HIVE by far. In the last 24 hours, STEEM recorded a trade volume of $5,378,008, clearly exceeding the $40,647 of HIVE.

However, it is necessary to wait and see how Hive’s performance evolves. After admitting their participation in the “takeover” of Steem’s witnesses, the exchanges Binance and Huobi announced their support for the hard fork. The exchanges distributed the HIVE token within a ratio of 1 STEEM = 1 HIVE. This initiative had a positive effect on the token’s performance. In addition, HIVE has been listed by the Bittrex, ProBit and Ionomy exchanges.

Author : Reynaldo