It looks like the Steemit Inc PR machine has been blasting out a press release. Syndicated articles like the following have been popping into my news feed touting the successful launch of hardfork 0.16.0.
From EconoTimes
Steemit, a fast growing decentralized social media platform, has announced that it has completed a successful hardfork aimed at modifying the economic model and enhancing investor accessibility.Full article: http://www.econotimes.com/Blockchain-social-platform-Steemit-completes-successful-hardfork-alters-economic-model-446491With the hardfork, the inflation rate of the Steem token reduced and the Steem Power holding requirements curtailed from an average of one year to an average of one and a half months. The move was executed on time and drew unanimous community approval as the top 19 Steemit witnesses all upgraded to Steemit version 16.0.
In a matter of days, the token’s trading value rose in parallel with increased demand from short and mid-term investors of Steem. At the time of announcement of the impending hardfork proposal, the total market cap valuation of Steem stood at $22 million USD. The price quickly rose thereafter and kept moving north. In the hours following the hard fork, the market cap valuation of Steem jumped to over $50 million USD, an over 200% increase in less than three weeks.
“Steem has hard forked successfully and now makes for an even greater blockchain currency. It is best in speed, scale and network growth, with a low and narrowing inflation over the next 20 years. Congratulations to the Steem community; all 19 of the top 19 witnesses and the majority of backups were upgraded well in advance”, CEO of Steemit Ned Scott said.
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