The Steem community has blamed Poloniex and Justin Sun for trying to seize power over the network. Figure out what happened

On March 2, the Poloniex exchange locked up more than 2 million STEEM and converted them into Steem Power (SP) tokens. In this momentusers could not access their funds, they write on Steempeak.

What happened

STEEM Power token is used to vote onblockchain Steem. According to user klye, the Poloniex exchange has assigned user coins to select their own validators (witnesses) on the Steem network. This manipulation allegedly led to many problems in services running on the blockchain platform.

klye claims that cryptocurrency exchanges Binance and Huobi did the same.

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Image A1 shows the translation from the ownerJustin Sahn’s Poloniex from his steemit account to Binance’s account “deepcrypto8,” klye writes. The community regarded this transaction as a bribe in order to encourage Binance to participate in the selection of validators needed by Sana.

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Image A2 shows 20 participants,received validator status. It is suspicious that they all received an almost identical number of votes. The community believes that the Poloniex, Binance, and Huobi exchanges deliberately attempted to usurp power on the network.

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Image A3 shows a transaction of 1 million STEEM, which was transferred to the huobi-pro account from misterdelegation, also owned by Sun.

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Three mentioned exchanges used assigneduser tools for installing dev365 (image A4) as a voting account in order to use it to assign the necessary validators to the Steem blockchain, summed up klye.

What does Justin Sun say?

The founder of TRON denies collusion with other exchanges and assures users that he never sought to take over the network, but only “protected it from hackers.”

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Changpeng &#171;CZ&#187; Zhao, amid an uproar on social networks, withdrew his vote from Binance and emphasized that the exchange will remain neutral.

What hackers does San mean?

Entrepreneur Acquires Steemit -famous blogging platform on the blockchain. Steemit owns a substantial portion of Steem tokens. The community did not like this, and within the framework of the soft fork, the possibilities of the Steemit steak were frozen.

Sun decided to take control of the network briefly in order to reverse the protocol changes and thaw the steak.

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&#171;We had no choice&#187;.

He finally apologized to the community.

What am I doing with this?

Many criticize the Proof-of-Work consensus algorithm for the energy costs of mining, but the alternatives have not proved their effectiveness.

Justin Sun and several exchanges have completely changed the balance of power in the Steem network in just a day. Prior to this, a group of disgruntled validators froze the Steemit steak, fearing the influence of the founder of TRON.

As a result, ordinary users suffered from delays in conclusions and a negative news background.