⇗ The Journey and Prospects of Steem Coin Amid Controversies and Centralization Issues

Steem Coin is a cryptocurrency aiming to create a new era of social engagement, with the ambition of overtaking platforms like Facebook by paying its bloggers in cryptocash. Its associated platform, Steemit, was purchased by Justin Sun who was met with resistance by the community. Amid power struggles and allegations of too much centralization, the Hive hard fork was launched as an alternative, claiming more independence. However, Steem and the hard fork have faced several issues. A notable incident involved Steem confiscating $6.3M through a hard fork, which was immediately regained by the community. Hive Blockchain also took issue with Steem's new digital currency. Despite the controversies, Steem aims to incentivize social media usage and is viewed as a potentially good investment for the coming years based on price predictions through to 2030. While it has faced accusations of censorship and suffered some performance issues, it remains a fixture within blockchain-based social media platforms, even getting approval from Apple for the App Store. One downside is a potential increase in crypto outages, a trend noticeable across the market. It's viewed as an unconventional crypto coin, but faces the challenge of contending with alleged damages sought by Tron Founder Justin Sun.

STEEM Coin News Analytics from Thu, 05 May 2016 07:00:00 GMT to Tue, 18 Jun 2024 13:38:07 GMT - Rating 5 - Innovation 7 - Information 6 - Rumor -2