Following weeks of disharmonize betwixt the Steem (STEEM) community and Justin Sunday, the community-led Hive hard fork was successful.

On March 20, Hive hard forked the Steem network, airdropping HIVE tokens to STEEM holders one:i, excluding the founder'due south reward.

The founder'southward reward comprises 20% of the full STEEM supply. The tokens were acquired by Tron'due south founder, Justin Sun, when he purchased Steemit Inc — the largest front-end interface for the decentralized blogging platform — on Feb. 14.

A quick search through Twitter shows that many content creators are already posting on Hive.

Steempeak rebrands to Peakd

Many of the Hive posts are accessed through Peakd — the Hive-based portal for Steempeak. Steempeak comprises the second-largest front-end interface for Steem behind Sunday'south Steemit.

Earlier today, Steempeak co-founder, Scott Jarvie, revealed the upcoming launch of a Hive-based platform to Cointelegraph. Jarvie stated:

"We program to keep steempeak.com alive for some time depending on if there are tertiary party systems that we demand and users. Withal, we expect Hive to be the main chain going forrard."

Overwhelming community support for Hive

Jarvie also noted nigh-unanimous support for Hive among hundreds of Steem community members who responded to a March 18 Steempeak poll.

"I have read through every post and am hard-pressed to find anyone who doesn't want to move to Hive," he stated, adding: "We asked them to be honest and we would make certain they wouldn't get attacked on comments if they were house in their resolution to stay on Steem."

Hive Fork Sparks Price Rollercoaster for STEEM

STEEM has experienced extreme volatility over recent weeks, with Sunday'south takeover of the Steem network appearing to drive prices downward lx% between February. 14 and March 18.

STEEM four-hour price chart

STEEM 4-hour price nautical chart. Source: TradingView

Hive announced that information technology would fork the network on March 18, triggering a price spike of over 200% in xviii hours. Still, prices have since crashed more than than 50% since yesterday's local high — indicating that most of STEEM's buying pressure level came from investors seeking to acquire HIVE.