The Hive blockchain launch will be at 10am EST, Friday, 20 March. A passionate effort, created by a large group of Steem community members who have long looked to move towards true decentralization and to help develop the code base, the new Hive blockchain is a DPOS governance blockchain created by implementing a hard fork of existing Steem code. The intention of this community-driven fork is to support and build on the strong Steem community values that have made our ecosystem so diverse and exciting. This new direction steps away from the burden of the Steemit Inc. ninja-mined stake, which has impacted the long term ability to work towards further development and decentralization for years.
Hive is a fork of the Steem blockchain and runs completely independently from the existing chain. All valid accounts on the Steem blockchain will receive an airdrop on Hive. While the Hive chain is a fork of the Steem code, the intention is to take responsibility to build something even better. The initial Hive launch will be a direct copy of existing blockchain with a few small upgrades, which will allow us to get back to community discussion on the direction for future development, needed changes, and most wanted chain-level features.
When The Hive blockchain launches, existing Steem accounts will appear on the Hive Network as well. You will have two accounts: the current one on the Steem, and a new Hive account, which will be pre-populated with all of your current Steem content and information.
All valid STEEM stakeholders will receive a perfectly mirrored balance of their current STEEM holdings in the new HIVE coin. This will include matching amounts of current liquid STEEM, Steem Power, and SBD.