Changpeng Zhao (CZ), the chief executive officer of the leading cryptomoney exchange, Binance, issued a statement on the recent Steem bifurcation that sought to freeze 23.6 million STEEM tokens associated with 64 wallet addresses.
However, Binance will support the bifurcation, indicating that it will support future bifurcations executed by those affected within the Steem community.
Steem made a “soft fork” to sanction the mysterious “community321” account
Steem fork attracts controversy
The latest fork was apparently intended to protect against malicious actors in the Steem network, however, critics have accused the project of seeking to punish the defenders of the Hive fork and the detractors of Steemit’s owner, Justin Sun .
Binance was previously criticized for targeting Sun regulation a+ compliant token sale, a largely hostile tone, crypto-friendly political climate, $57 million into uphold, announced its blockchain service, published an advisory, bittorrent’s own token, tron and zcash, asked commercial banks, to an alternative called proof-of-stake over a hostile expulsion of former validators from the network through a fork in early March, however, CZ quickly withdrew support for the fork claiming that Sun and Steem had misled him as to the nature of the ‘upgrade.
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CZ publishes a statement
In a statement released on 24 May, CZ faced mixed feelings about the fork in the road:
“We are very much against reducing to zero the assets of other people in the block chain. This is against the very ethics of blockchain and decentralization,” he said.
“The fact that this can happen in a blockchain means that it is too centralized.
While emphasizing that Binance does not want to support this update, CZ notes that “there is another side to the coin.
“If we don’t support it (technically), no user could remove any coin from STEEM. The wallet stopped synchronizing at a certain point, and there are no other forks”, he added.
Steem to freeze another $5 million in tokens associated with Hive supporters
We don’t want to block people’s funds. In this case, we should allow users to withdraw their funds, whether or not we voluntarily support this bifurcation