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Steemit Hardfork Inbound — Here’s When It Will Happen

1 min
Updated by Dani Polo

In Brief

  • Steem Blockchain Reportedly Froze Monday, Causing Some Concern
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Steemit, a blogging and social networking website that uses its Steem blockchain-based rewards platform for publishers, will undergo a hardfork next week.
Codenamed “Velocity,” Hardfork 20 has been officially announced by Steemit’s blockchain team. The hardfork — a term for when a blockchain diverges into two potential paths forward — is scheduled for September 25. Steem users are encouraged to vote on the proposed hardfork by running their choice of the Steem blockchain. The changes Velocity offers are numerous and extensive, including the implementation of a system based on Resource Credits, updates to account creation, and various other changes. Steem

Technical Issues?

There have been some suggestions that all is not well in Steem world. Yesterday, the Steem blockchain apparently went down, as noted by a user on Twitter. When replies claimed that only the website was down and that the blockchain was fine, the poster replied with an official announcement from Steem’s Twitter account: At the time of this writing, both the website and the Steem blockchain appear to be operating correctly.

Pre-Fork Price Surge?

At the time of this writing, Steem (STEEM) is trading at $0.852191 per coin, up 14.08 percent over the last 24 hours. The increase in valuation certainly stands out amid a marketwide sea of red. Steem STEEM’s price action leading up to the hardfork will certainly be worth paying attention to. What do you think about Steemit’s impending hardfork? Be sure to let us know your thoughts in the comments below! 


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