June 14, 2021

Justin Sun: Tron Foundation was going to partner with Steem, not take control

Tron Foundation CEO Justin Sun introduces community version of community conflict events at Virtual Blockchain Week Steemit's blogging platform, which led to a hard fork with the advent of the HIVE token. Details are given by the Cointelegraph.

According to San, the purchase of 20% of the Tron Foundation of allSTEEM issued tokens should be understood as a “partnership”, not a takeover. It was this character that he tried to give to the relationship from the very beginning.

“Bitcoin and Steem are definitely decentralized. But some companies hold a lot of bitcoins. Same is the relationship between Tron and the Steem blockchain. ”, Justin Sun explained his position, recognizing at the same time that Steemit as a decentralized application definitely has an impact on this blockchain.

Recall that in mid-February, the leadership of the social network Steemit announced the migration of the application from the Steem blockchain to the Tron blockchain as part of a strategic partnership.

Part of the team’s assets was supposed to behand over to Sana. This caused concern among the validators of the Steem blockchain, and on February 22, by a majority of votes, they made changes to the protocol, blocking the tokens of the Steemit team.

In an attempt to access blockedassets, Justin Sun turned to a number of major exchanges, including Binance, Huobi and Poloniex, asking them to help unfreeze his share of the vote on the Steem blockchain. The necessary votes were eventually obtained, and in early March, the Steemit social network team announced the elimination of the consequences of the soft fork.

Nevertheless, on March 22, the Steem blogging platform restarted on the new Hive.io blockchain.

All data was transferred to it, includingdecentralized applications, with the exception of the tokens of the initial development fund, controlled by the Steemit and Tron Foundation. In Steemit, in turn, they went to freeze the coins of the initiators of the hard fork.

"When Hive do hard fork, they actuallythey freeze and take away all the funds of those who do not agree with them. Not only us, but also the community in Korea and China - they just take their money on the Hive blockchain. ”- commented on the next episode of the "war" Sun.

The CEO of Tron Foundation said that he and his partners entered into negotiations with exchanges to return these funds to users who disagree with the hard fork.

“We just returned the funds ... we did nothing else but this. We believe that we are doing the right thing. ”- explained San.

Recall that stood out as a result of a hard forkAt the beginning of the week, the Steem Hive token jumped 4.5 times in four days and was valued 3.2 times more expensive than its “progenitor”. At the time of writing, this advantage was reduced to 2.2 times due to a more pronounced correction of HIVE.