Speaking at the Virtual Blockchain Week (VBW), Tron founder Justin Sun presented his side of the contempo events involving Tron's "partnership" with Steemit Inc, and the subsequent hard fork that resulted in Hive (HIVE) forking away from Steem (STEEM).

During February, it was reported that Justin Sun had caused Steemit Inc alongside the platform's founder'southward reward of twenty% of the total STEEM token supply. In response to the purported conquering, the Steem community moved to initiate a fork to freeze the advantage.

Lord's day rejects the narrative of Tron "acquiring" Steemit Inc

At VWB, Sunday stated that he does not think the term "'conquering' is the right word to describe the partnership between the Tron Foundation and Steemit Inc."

"At the beginning, we didn't use the word acquisition, we more talk almost partnership," said Justin, seeking to clarify the nature of the relationship:

"Steemit Inc have a sure percentage of the tokens inside of the Steemit ecosystem, and as well Steemit.com is one of the most of import apps in the ecosystem [...] Bitcoin, like Steem, is definitely decentralized, but [some] of the companies, they hold lots of the Bitcoin. Then that's the relationship between the company and the Steem blockchain."

While emphasizing his preferred nomenclature of "partnership," Sun best-selling that, as ane of the largest decentralized apps operating on Steem, "Steemit Inc definitely has some influence on the Steem blockchain."

Binance and Huobi vote confronting Steem node operators

In March, Dominicus controversially collaborated with major exchanges Binance and Huobi to oust Steem's onetime node operators — prompting reports of a hostile takeover.

The exchanges chop-chop withdrew their votes — including customer funds that had mobilized for governance voting — claiming that they were unaware they were supporting the removal of Steem's node operators.

The incident proved to be the concluding harbinger in the dispute, with the Hive difficult fork transpiring over the post-obit weeks. The Hive hard fork froze the founder'southward reward, prompting retaliation from Steem — freezing STEEM tokens associated with the actors who spearheaded the hard fork.

"Showtime of all, when Steemit Inc [got] into the Steem ecosystem, we find out our avails are frozen by some malicious actors," Sun stated during VBW.

"When Hive do the hard fork, they actually frozen and have all the funds of those people who disagree with them not simply usa, the community in Korea, and China — they just take their funds in the Hive blockchain," he asserted. "That'southward why we collaborated with the exchanges — to get those funds recovered [...], and that's why we believe we are doing the right thing."

"We simply recovered the funds [...] we didn't practise anything other than that. We collaborated with some third parties to refund all the funds for the users, [...] and after that, we exit all the decisions to be made by the Steem community."