Steemit to Shift Its Proprietary Blockchain and Token to Tron Network

Published on by Cointele | Published on

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The maintainer of major cryptocurrency Tron has just partnered with Steemit, a major blockchain-based blogging and social networking website to provide its network for Steemit services.

Steemit old token STEEM to move to the Tron blockchain, too.

As part of the strategic partnership, the Tron Foundation will work with the firm to move Steemit and other Steem blockchain-based decentralized applications to the Tron blockchain, the firms said in an announcement shared with Cointelegraph on Feb. 14.

The partnership also includes the shift of old Steem token to a new STEEM token based on the Tron blockchain.

Tron founder and CEO Justin Sun expressed confidence that the new partnership will allow the companies to "Usher in a new era of decentralized social networking." Sun confirmed the news on Twitter, giving the name Steemit 2.0 to the upcoming Tron-based Steemit.

Tron and Steemit will be driving mass adoption together.

Providing a Reddit-alike service running on the Steemit's proprietary Steem blockchain, Steemit is one of the largest DApps, with over 1.3 million registered accounts as of press time, according to data from Steem block explorer.

Steemit is also known for releasing blockchain-based alternatives for major media websites like Youtube and Instagram such as DTube and APPICS. The partnership will apparently bring much more traction to Tron's blockchain with Steemit's solid user base.

According to data from website traffic analysis tool SimilarWeb, Steemit website had over 7.8 million visits in January 2020.

Rew Levine, head of communications at Steemit, noted to Cointelegraph that the company has been actively working over the past year despite largely avoiding the spotlight in 2019.