Binance CEO Reacts to Steem Hard Fork Controversy

Binance CEO Reacts to  Steem Hard Fork Controversy

Changpeng Zhao has released a state on the Binance blog after a recent hard fork has resulted in some asset balances to be turned to zero.

The CEO of Binance is famously vocal about the goings-on in the world of blockchain and is not afraid to have his say and once again that has rung true. The situation revolves around a hard fork made by Steem, once which according to Zhao, the platform didn’t want to support but if they had failed to do so then it would mean users wouldn’t have been able to withdraw their funds. Nonetheless, as per the statement, Binance “are very much against zeroing other people’s assets on the blockchain.”

It was their belief that the decision they eventually made protected users and the decision as they felt obliged to support the hard fork. As such, after the team asked him to weigh in he decided to adhere to the technical upgrade.

However, this decision, in turn, caused some traders to lose a significant amount of funds. Ultimately, Zhao mused that he does “believe decentralization solves many of the problems we face today, but at the same time, it will create its own set of problems, which we have to work together to solve so that we build a healthier decentralized ecosystem.”

If you want to read the full statement in full, you can go to Binance now here.

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