You are viewing a single comment's thread from:

RE: Is Hive decentralized and who governs it?

in #hive4 years ago

... we removed that "Sword of Damocles" hanging over us that were these ninja-mined tokens.

A more realistic way to put it would be that the "Sword of Damocles" has been moved into the slush fund known, ironically, as the Decentralized Hive Fund.

It is ironic to have decentralised in its naming as it is administered through stake based voting with the Return Proposal ((#0) of @gtg, which raises the bar on what the community can endorse on their own without the V.22.2 Cabal's approval. And so it becomes a slush fund for those approved by the V.22.2 Cabal.

The only difference between the pre-forked STEEM and HIVE is that the V.22.2 Cabal has removed their threat on their power to token grind freely by the Ninja Stake, which is now safely stored on HIVE in a slush fund under their control. The fork creating the new chain did not even deal with something as fundamental as witness vote retention which is a huge tell to me as to the motivation of the fork.

In my opinion the trust and governance of both the STEEM and HIVE blockchains are broken beyond repair.