BIG NEWS: 20 million Steemit users migrate to TRON (TRX)

  • The world’s largest blockchain-based social media platform, Steemit, has entered into a strategic partnership with TRON.
  • As part of the cooperation, all dApps based on the Steem blockchain and 20 million users will migrate to the TRON blockchain.

As Crypto News Flash reported a few hours ago, Justin Sun caused quite a stir by offering a Valentine’s Day gift to the community. This time, Sun kept his promise and announced a strategic cooperation with the world’s largest blockchain-based social media platform, Steemit.

Steemit is based on the Steem blockchain and is currently the world’s largest social Media platform based on the blockchain, with over 20 million active users. Steemit is considered a Reddit alternative and generates more than 7.85 million page views per month, according to data, and is one of the 8,000 most visited websites in the United States of America.

Steemit has a growing community of dApps on the Steem Blockchain and has attracted more than 1.3 million users. The most popular projects include the YouTube alternative D.Tube, the Instagram Alternative APPICS and the fitness dApp Actifit. In total, more than 800 dApps are now running on the TRON Blockchain.

The TRON Foundation and Steemit Inc. aim to create new value for users and to strengthen the joint progress in decentralized technologies. They also plan to migrate the old STEEM token to a new TRON-based Steem token, and to provide gifts in the form of an airdrop for the new members of the TRON ecosystem and for dedicated developers.

Steemit was founded in 2016 by Ned Scott and Dar Larimer and has grown to become the largest blockchain-based social media platform to date. Scott describes the basic concept of Steemit as a novel democratic concept of a modern forum, where exciting contributions can be positively rated with the STEEM token and the content creators receive a reward.

This “powerful distribution mechanism” promotes social network adaptation and appreciation between users. By partnering with TRON, Scott aims to reach a wider user base and increase overall reach:

From launching the platform in 2016 on a shoestring budget to today, I’ve enjoyed the development of the platform and the growth of its user base — now I’m excited to see a strategic partner attempt to bring it to new heights.

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Scott writes on Twitter that he sold Steemit to Justin Sun and the Tron Foundation after 4 years, but no financial details were revealed or when the final contract was signed. Justin Sun is excited to add another building block to the TRON ecosystem and hopes for further growth and user influx through the platform:

We are very excited to welcome Steemit into the TRON ecosystem. Together we will usher in a new era of decentralized social networking.

TRON continues to expand

Most recently, Tavittcoin announced that the Ethereum and Waves project will be abandoned in favor of TRON blockchain. TRON has also positioned itself in the DeFi market and launched DeLoan, a decentralized mortgage and profit platform. TRON and BitTorrent will launch a stablecoin that will be launched on the TRON blockchain and will be tied to the value of the USD.

The price of TRX follows the current market trend, rising 1.62% over the last 24 hours to a price of USD 0.0256.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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