Steem Hard Fork May Face Lawsuit from Canadian Mining Producer
Main page News, Blockchain, Hard Fork

A recent hard fork on the Steem blockchain network called Hive is in jeopardy of legal action from a Canadian company of the same name — Hive Blockchain Technologies Ltd.

The Canadian manufacturer of mining equipment has issued an official statement in which it said that the company's representatives sent a message to asking them to change the name of the project in order to avoid legal conflict.

Interim Executive Chairman for HIVE Frank Holmes says the company has invested "significant amounts of money in developing its brand and educating the capital markets on blockchain technology and cryptocurrencies."

"We are a strong supporter of innovation within blockchain technology, and we have no issue with the proposed blockchain beyond its name, nor do we have any opinion on its reported dispute related to Steem. However, for legal reasons, we have no option but to seek to protect our interests, dispel the ongoing confusion and avoid any potential damage to our reputation," Holmes added.

The company claims it had to face many questions from their customers on whether the company was involved with this project or not.

Earlier iHodl reported that a Chinese cryptocurrency exchange Huobi issued a statement in which clarified the situation regarding the recent takeover of the Steem blockchain network.

Binance to Support Steem Hard Fork

The exchange said it stakes users' holdings "to block malicious activities" and possible attacks on blockchain networks. Huobi also highlighted Steemit and TRON had reached out to seek its support to resist a possible attack.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error