How did HF20 fare- the good, bad and the ugly.

Today, voting power returned to 80% for Steemitians who did not use their voting power (VP) for last 4 days. If they don't vote, VP will resume to 100%. Five days of rewards are missed by content creators, curators, and investors.

At the first day of update, all Steemitians except the whales were unable to transact or post. It almost felt like the halting from the last week. Almost for 40-48 hours STEEM blockchain was unusable due to HF20 related issues. Exchanges are still halted for services.

With couple of patches, STEEM blockchain seems to be working on full throttle. One of the upgrades seems to be less spamming of the comment and transfer sections. New Resource credit (RC) system has provided the STEEM blockcahin lots of tweaking options. With few more patches, the right equilibrium for RC can be achieved.

One of the outcomes of HF20 is the free onboarding by existing DApps and users that is yet not visible. But it may take few more days. However, another speculation is that RC system can become a hot commodity in future. Power users such as DApp developers or businesses may need to borrow RC for large number of transactions that can create demand for idle RCs from infrequent users.

There are some good analyses on outcome of HF20 that I recommend to read:

1. From @exyle: Steempower (RC's) is a way more flexible resource than gasoline. Look further than the current troubles.

2. From @taskmaster4450: The Hard Fork 20 Fiasco Was The Best Thing To Happen To STEEM AND Who Is Responsible!!!!

3. From @taskmaster4450: Connecting The Dots: Resource Credits Will Make STEEM A Lot More Valuable

4. From @ats-witness: Did We Learn Any Lessons From HF20?

5. From @whatsup: What I Learned From Hardfork 20 - I Was Wrong about my Witness Votes

So, we have seen the good, bad and the ugliness of the HF20 velocity. It will be a big lesson for future big updates such as SMT and community. However, it also cleared up resources for future SMT developments. Also, HF20 has showed that the Steem community, witeness, developers and STINC all are functioning, breathing alive and bustling. Though it created some panics, disgruntles and (monetary) loss, it is the necessary evil that we had to deal with and progress forward.

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger