Steemit will transfer its proprietary blockchain and token to the TRON network

Steemit will transfer Blockchain and its proprietary token to the Tron network

Tron Foundation and Steemit Inc have just announced a strategic partnership, through which this blockchain-based social networking platform will move to the Tron blockchain.

Steemit and the old Steem token will be transferred to the Tron blockchain

"The TRON and Steemit development teams will immediately work together to bring Steemit and other Steem-based DApps to the TRON blockchain," the company's press release said. In addition, the old Steem token will also be transferred to the new Steem token based on the Tron blockchain.

After the partnership was confirmed, a press representative described the agreement as "a collaborative move to expand Steemit's scope of operations."

When asked whether Tron Foundation will invest in Steemit, the representative replied:

"No, Steam has chosen to move to the Tron blockchain and the two sides will launch a joint 'accelerator' to promote further development of the Steemit platform."

Justin Sun - CEO and founder of TRON, has expressed confidence that the new partnership will help the two companies open a new era of decentralized social networking. Sun has confirm This news is on Twitter, and names Steemit based on the upcoming Tron as Steemit 2.0.

This move caused Steem prices to rise nearly 26% in the 24-hour time frame. TRX also recorded a significant increase, trading 10% higher at the time of writing.

Together, Tron and Steemit will promote mass adoption

Ned Scott - co-founder and president of Steemit, emphasized that the platform was created in 2016 with the original purpose of adapting to cryptocurrencies and achieving mass adoption. Scott continued:

“Since launching the platform in 2016 on a tight budget to this day, I love the development of the platform and its user base development - now I am excited to see a strategic partner that strives to take it to the next level. ”

Offering a similar service Reddit running on Steemit's proprietary Steem blockchain, Steemit is one of the largest DApps with 1.3 million accounts registered at the time of writing, according to data from block explorer Steem. Steemit is also known for releasing blockchain-based alternatives to major traditional websites like Youtube and Instagram, such as DTube and APPICS.

This collaboration will obviously bring more momentum to the Tron blockchain based on Steemit's strong user base. According to data from SimilarWeb web traffic analysis tool, the Steemit website had more than 7.8 million hits in January 2020. According to the statistics, TRON now has more than 800 DApps running on its ecosystem. .

In early February, Sun's founder finally got a meal with Berkshire Hathaway chairman and famous Bitconi (BTC) critic Warren Buffett after a series of delays in 2019.

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According to The Block
Translated by ToiYeuBitcoin


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