March 18, 2020 The Steem blockchain faces a hard fork in an effort to remove Steemit Inc., following governance issues with Justin Sun.

A collection of Steem community members have scheduled a hard fork for March 20, with a new blockchain, called Hive, set to emerge. The network will use the same codebase of Steem and continue to use delegated proof of stake (DPoS), only making some small technical alterations. The news came from SteemPeak, a frontend interface for the Steem network who apparently has the support of over 30 developers as well as a wider community pool. Separately, Blocktrades, a Steem validator stated on Monday that Steemit Inc. the social media application that Justin Sun bought, now has “nearly zero value”. In its post, the validator claimed that Sun has destroyed the business’s value as evidenced by the exodus of most of its developers. This latest dynamic follows an earlier hard fork initiated by Sun in an attempt to resolidify his influence over the Steem network through ownership of Steem tokens.