How is the story? When Steemit is Back in the Community!

Two large crypto exchanges draw their support to Justin Sun who wants to take over Steemit.

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Civil war between Steemit users and Tron founder Justin Sun, could threaten the destruction of popular social networking, which has long been considered an alternative decentralization for Reddit.

Fighting culminated yesterday, when accounts managed by Crypto Exchange Huobi, Binance and Poloniex used their votes through voting at large meetings and pledged their turnover to reclaim Steemit.

The vote resulted in a decision that Sun should resign after Huobi and Binance withdrew their support for him. This can be bad for some users where they may no longer be able to pull the original token from the exchange.

In addition, it also adds to the chaos in Steemit development which means the team must stop working. There are only two ways for Sun to have to form a new team or buy back Steemit control.

War on Steemit

The war in the Steemit community began with Sun launching a large tweetstorm that tried to explain his version of recent events. Sun said his efforts to take control of Steemit were designed to protect the site, which he claimed had been subverted by "Evil Hackers."

"The comment that we are collaborating with Crypto Exchange which is hostile to one another is wrong," Sun wrote in his tweet. "Our intention is never to take over the network and vote from all parties involved. We want to protect the platform and the interests of all from malicious hackers. "

He added: "The risk of canceling the #STEEM network puts the interest of every STEEM holder in jeopardy."

Sun bought Steemit.com last month, which is basically a decentralized version of Reddit and runs on the Steem blockchain. This new site adds to its decentralized media empire, which currently consists of the live streaming site DLive (which is also used to run on the Steem blockchain) and Bittorrent. Sun's plan is to move Steemit to its own blockchain network, TRON.

With the purchase, Sun also acquired 65 million original Steem tokens (worth about $ 12 million). The token has been mined before the launch of the network, and belongs to former Steemit owner, Ned Scott.

Sun hopes to use coins to control the blockchain and site, and move them all to the TRON blockchain.

But in retaliation, nine days ago, the Steemit community chose to support soft forks on the blockchain, which would block the use of Sun tokens until he drew up his plans for the future of the network. (They also discussed to destroy the tokens, because there was a possibility that Sun could use them to damage the network.)

By asking for help from Crypto Exchange yesterday, Sun hopes to make a stop around the soft forker. However, today, the two largest Crypto Exchange namely Binance and Huobi, stated that they did not want to take part in this fight and that indicated that they were withdrawing support for Sun.

Binance "is not interested in blockchain governance. We remain neutral, ”tweeted Binance's CEO, Changpeng Zhao.

In a statement today, Huobi said that they initially supported Sun, thinking it "was in the best interest of our users and the network in general." However, given the public reaction, Huobi turned around and withdrew his support.

Poloniex has not yet issued a statement about this issue
Sun is in a deadlock because at this time he cannot return to control his new site, after two crypto exchanges withdrew his support at a large Friday meeting yesterday.

"Justin Sun has just destroyed an entire community and a place where many crypto beginners and now he calls witnesses from his own side about the DPoS hackers," tweeted one community member, Teutonium.

"Sun alone took over the blockchain and gave a false witness. This is called dictatorship, totalitarianism and complete centralization of where I come from, "the tweet of another member, Ervin Lemark.

Some Support for Sun

In Sun's defense, the Steemit platform is not in good condition, some say.

"As far as the plutocracies go, that is a famous example of why DPOS is leading to centralized power in the hands of rich minorities and the early adopters," Steemit contributor Alexander Klein told Decrypt.

"When I use the platform, it is very difficult to find original content independently and voting for crazy bots," he added.

Joshua Bouw, the initial user of Steemit, told Decrypt that Steem tokens are being held by people who have become rich by joining the platform from the start.

He said they held the Steem token and used it to control the platform, which harmed the site.

"Eventually they all got together and paid them to vote," he said, showing that the community was bad to the core.

Likewise, people in the pro-TRON Telegram group defended Sun's position:

"The witnesses, who acted like mafias, carried out a soft branching to take the entire network and block accounts without any reason," wrote "Piter" pseudonym.

He considers Sun's actions democratic. "The problem here is that the old witnesses thought that the network belonged to them because they had become the initial part of Steem and that was the wrong thing. The network belongs to the holders. "More gambling, more power to decide, that's the way things work in real life," he wrote.

Whether pro-Tron or pro-Steemit, it raises questions about the exchange of authority should affect the blockchain network, and what precautions if any, should be implemented in the future.

"It's not new for teams that claim authority over a project to ask for crypto exchanges to join a minority of support," Bouw said. But "this is the first concrete example of the weakness of the position taken by crypto exchange," he said.

The question
So how does the fate of Steemit continue?

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This is the story of Steemit Inc, when it is held back by the Community!!

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