U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Just In: Steemit Moves to Tron (TRX) Blockchain

News
Fri, 02/14/2020 - 15:59
Alex Dovbnya
Steemit makes an announcement about its "strategic partnership" with Tron
Cover image via 123rf.com

Blockchain-powered Reddit alternative Steemit is migrating to the Tron blockchain, according to a press release shared with U.Today. This a major partnership for Tron that already boasts more than 800 dApps under its belt.

Related
3 Blockchain-Based Facebook Alternatives 

STEEM tokens will be moved to the Tron blockchain. There will also be a new accelerator program created for the community of developers.

“We are very excited to welcome Steemit into the TRON ecosystem,” says Justin Sun, Founder of TRON and CEO of BitTorrent.  

Tron was rumored to acquire Steemit back in January but it turned out that Sun hinted at a deal with blockchain-based streaming platform DLive. Notably, Steemit hosts another video sharing website called D.Tube that will now be migrating to Tron along with a slew of other dApps.              

Related
Blockstream CEO Explains Why Tron (TRX) Is Better Than Ethereum (ETH)

Since its creation in 2016, Steemit has managed to attract more than 1.2 mln registered users. Like with other blockchain projects, decentralization is its main selling point — one can create content that will not be subjected to moderation and censorship. It also rewards content creators with STEEM tokens

Even though Steemit is a rare example of a successful crypto project with mainstream appeal, it has suffered from financial woes and leadership reshuffling. Back in November 2018, it had to lay off 70 percent of its staff. 

 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Bitcoin SV (BSV) Miners Flock to BTC After Botched Halving as BCH Hashrate Tanks
Bitcoin (BTC) Ponzi Schemes Take Massive Hit During COVID-19 Pandemic, but You Have to Watch Out for These Scams
Trump Voices Support for $50 Bln Airline Bailout: 'It Is What It Is'