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Steemit Chaos: Why Justin Sun and the Community Are at War

Brady Dale, senior reporter at CoinDesk, walks through the last few weeks of drama in Steemit this week, staring with when Justin Sun bought Steemit, what that meant for the network, and how the validators (aka “witnesses”) responded and how exchanges got involved. We talk about why it’s significant that the exchanges were Poloniex, Huobi and Binance, and why they seem to have walked back their support of new witnesses. We also cover the lessons in this drama for blockchains that use delegated proof of stake, and where the Steemit community might go from here. 

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Episode links: 

Brady Dale: https://twitter.com/BradyDale

Steemit: https://steemit.com

Justin Sun: https://twitter.com/justinsuntron

Sun acquires Steemit: https://www.coindesk.com/steemit-sets-up-shop-on-tron-network

Crypto exchanges get involved: https://www.coindesk.com/why-crypto-should-care-about-justin-suns-steem-drama

Blog post from Steemit: https://steemit.com/tron/@steemitblog/an-open-letter-to-the-community-hf22-5

Steemit community fights back: https://www.coindesk.com/steem-community-mobilizes-popular-vote-in-battle-with-justin-sun

Exchanges walk back: https://www.theblockcrypto.com/post/57607/justin-sun-stands-by-trons-decision-to-overturn-community-governance-rule

Lessons from the Steemit battle: https://twitter.com/DavidVorick/status/1235064633016242176

Links from news recap:

https://unchainedpodcast.com/he-giggles-snorts-and-waves-his-arms/

 

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