Canada-based company firm Hive Blockchain has appear that its legal representation is issuing a cease and desist request to the Hive community, which recently forked from the Steem (STEEM) network.

According to a March 23 press release, the mining firm believes that the new blockchain's use of the term 'Hive' creates confusion around its branding — asserting that many Hive Blockchain shareholders have sought clarification as to whether the visitor is associated with the hard fork.

Hive Blockchain issues cease and desist to Hive community

Hive Blockchain was founded in 2022 and claims the Steem fork is benefiting from "goodwill" that the firm has cultivated within the cryptocurrency sector.

"As an early leader in the blockchain sector, nosotros take invested significant amounts of money in developing our make and educating the capital markets on blockchain technology and cryptocurrencies," said Hive Blockchain'south acting executive chairman, Frank Holmes.

Holmes asserts that Hive Blockchain "has no issue with the proposed blockchain across its name," adding that the firm has no opinion on the Hive customs's dispute with Steem:

"Withal, 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. We are hopeful this tin exist easily resolved with a name modify. Any continued usage by the Blockchain will only testify an intentionally predatory, misleading and fraudulent strategy."

Before this month, Hive Blockchain announced it would expand its Ethereum (ETH) mining operations past 20%.

Hive successfully forks off Steem

On March 18, a group of more than than 30 former Steem developers announced their program to execute a difficult fork and break away from the network under the new branding of 'Hive'. The move followed several weeks of well-documented conflict betwixt the Steem community and the new possessor of both Steemit Inc and xx% of STEEM'southward supply, Justin Sun.

On March twenty, the Hive community successfully forked away from Steem — creating what is being called the Hive blockchain.

The cryptocurrency is already existence traded nether the ticker 'HIVE' on at to the lowest degree iv cryptocurrency exchanges including Bittrex — where it is trading at a xx% premium over STEEM.