Published on Feb 24, 2020
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#14 - Steem Soft Fork | A Testament of Decentralization or a Dangerous Precedence?.png

Hope for the best. Plan for the worst. Keep your eyes open.

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At 5pm Eastern time, soft fork 0.22.2 was announced by the Steem Blockchain witnesses. This soft fork was discussed and implemented by the witnesses after hearing a myriad of concerns regarding the Steemit, Inc. acquisition by Justin Sun and the subsequent press releases which gave contradictory messages about Justin’s plans for Steemit and his large newly acquired stake in the Steem blockchain.

Steem is not Steemit.

This message rings truer now more than ever before. There are 2 major sides to this argument:

  1. Did the Steem community and witnesses just prove how decentralized Steem is and how a decentralized community should operate?
  2. Or did we just set a dangerous precedent regarding DPoS and blockchain-based assets?

In this episode:

  1. Steem is never lacking in the drama department
  2. We faced an existential threat to the chain and our community warranted a response of some type to defend our home based on Tron announcements
  3. Tron marketing teams and their PR is either intentionally misleading or horribly misinformed
  4. A decentralized proof of Steem's governance model
  5. Temporary fix until proper discussions are had between Steem and Justin Sun… what does this soft fork actually do?
  6. Community is divided on whether this was a good move or not — dangerous precedence or logical downside mitigation?
  7. Witness statements and reasoning for why they support or don’t support this soft fork
  8. Justin’s quick and cordial response — a good first step, but also his only real option. We’ll know more on the 6th of March when there is an open dialogue

Links Mentioned:

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