RE: Hive Is Not A Security - It Doesn't Pass The Howey Test

Please bear in mind, this is only going to apply to the base layer. We cannot say the same thing about layer 2 solutions.

If only Hive passes the Howey Test, what will happen if the SEC sees the layer 2 coins as securities and then try to regulate them?

Hence, if any of the Top 20 witnesses closed down, regardless of who it is, the network would keep running. No single entity is essential for Hive to operate.

So does this mean that even if the top 20 witnesses will just suddenly disappear, a new set of 20 witnesses can just replace them?

Before getting to that, it is vital to understand the network is running. No software upgrades are necessary. Anything that is added is for enhancement, not necessarily for the operation of the network.

It seems very simple but the distinction between the basic operation of the blockchain and its continuous development is really very important, particularly for us who are not into coding.

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