New to Busy?

When Is a Blockchain no Longer a Blockchain?


14 days ago

▶️ Watch on 3Speak

Some commentary on the latest Steem Hard Fork. I don't get into how this hard fork stole funds from over 60 user accounts, transferred them to a single account which later got taken over and transferred those funds to the Bittrex exchange. Plenty of people online already talking about that. Instead, I wanted to ask a more fundamental question as to when a blockchain is no longer a blockchain. How do we view distributed consensus and at what point does it just become a centrally controlled database without any real security?

Here's the tweet thread I referenced:

Here's the backstory:

Here's the original open letter from Justin Sun after the very first action taken by the Steem witnesses almost three months ago:

▶️ 3Speak


Sort byBest