Binance Goes Ahead With HIVE Token Distribution Amid Naming Rights Feud

Popular cryptocurrency exchange Binance has found itself embroiled in a bit of a scandal involving the Hive blockchain, as the exchange is going ahead with a seemingly unsanctioned token offering. While this is great news for prospective investors and users of the blockchain platform, there remains one significant problem; Hive Blockchain (not to be confused with Hive.io, the platform being promoted by Binance) has announced that its name shouldn’t be used by other companies.

The Hive community successfully executed their fork from Steem earlier this month, after they had developer several conflicts with their former parent company. The community especially had problems with Justin Sun, the new owner of Steemit Inc. – a decentralized blog hosted on the Steem blockchain – and about 20 percent of the total STEEM tokens in circulation.

Timeline of Steem