Steemit Crypto Academy Contest / S8W3 - Steem and TRX Integration
Hello everyone, how are you doing, I hope everyone is doing great, I welcome you to week 3 season 8 of the engagement challenge, and here I shall be participating in the contest discussion of "Steem and Tron Integration.".
The Steem and Tron integration is an obvious scenario that always payout on every individual post, while the reward differs, there is still more deep knowledge about this which I shall be exploring in this article, Happy Reading!!!.
As we already know that Steemit is a social media platform that operates using blockchain technology making it a decentralized social media platform, The User on the platform create content, and in return, they earn rewards for their hard work. The rewards the user earned are paid out as well in cryptocurrency, such as SBD, STEEM, and TRX.
The TRX integration is the addition of extra rewards users earned through TRX, and this was implemented in 2018 when Justin sun make the acquisition of the steem blockchain, TRX is the native coin of the TRON blockchain, and it's also a rewarding opportunity on Steemit.
The TRX integration gives users on the platform receive the payout rewards in Steem, TRX, and SBD which gives users more chances of diversifying their earnings.
The Purpose of TRX Integration:
The major purpose of TRX integration on Steemit is to provide additional rewards for users on the platform, and this is beneficial as it gives users the option to diversify their earnings, and Secondly, it also helps the TRON network to increase its liquidity and adoption of TRX, as more people become aware of TRX and start using the cryptocurrency it gives the TRON network more exposure, the integration is likely to serve the purpose of an Airdrop to the steemit users which is to provide TRON with more publicity.
The ratio of TRX tokens on payouts has continued to varied from time to time over the past years, and this ratio still depends on users' payout settings.
Although we can also factor some market conditions for the effect of this varied payout, as of date, the ratio of TRX to Steem is approximately 0.5 TRX :1 SP, although this condition is different for users on 100% power up, and 50/50 payout.
At the initial time of integration, the ratio of STEEM to TRX was 2:1, meaning users as at then receive twice TRX as SP on their payout, but due to market conditions and some factors, this has continued to reduce overtime, currently, 50% SBD / 50% SP payout receive 0.25TRX to 1 SP, while Power Up 100% receives 0.5 TRX to 1 SP and this was announced in the latest development by steemitblog.
Claiming The TRX reward is the same as easy as claiming the Steem reward.
Step 1 - Navigate to your steemit wallet, and sign -in using your private keys.
Step 2 - After login into your wallet account, click on Redeem Rewards and the TRX will reflect on the user's balance immediately.
To withdraw the TRX rewards from Steemit Wallet?
The Withdrawal from the steemit wallet is also straight forward as it gets.
Step 1 - Scroll down to the TRX balance, then click on Transfer
Step 2 - Clicking the Transfer will take you to the page below, then you make sure to click SWITCH TO TRON ACCOUNT.
Step 3 - In the "To" Space provided, input the Receiving TRX address, and then input the balance you plan to transfer then click Next.
Then that's all the steps and methods involved in Withdrawing the TRX reward from the steemit wallets.
There are several wallets that can be used to link the Steemit wallet for TRX, the most common method is using the TronLink App or its extension.
Step 1 - Download the Chrome Extension from the page TronLink or better still download the mobile version.
Step 2 - After you have successfully downloaded the extension, then you click on it and Navigate to Import Wallet.
Step 3 - Ensure to Agree to the Users' Agreements.
Step 4 - You then input the Private key, then click Next, which afterward you click Next, which afterward you set a password to this account and this password will be required whenever you plan on making TRX transactions.
Yes, there are several times have had problems with TRX rewards where they sometimes reflect very late. sometimes this fluctuates around the platform as well, where some users will receive the TRX earlier than others despite claiming at the same time, although this is an expected issue with cryptocurrencies as there could be sometimes delays due to the Network stability.
My Feedback on The Benefits of TRX Integration
The Benefit of this integration is that it provides users with more options for receiving rewards, The Steemit platform was able to provide users with additional earnings through their payout.
The integration is also beneficial to the TRX network, as it provides them with more publicity, and through this on the payout, it provides more adoption of TRX and more liquidity as well.
And lastly, the integration gives users the capacity to diversify their earnings, as they can receive rewards in SBD, Steem, and TRX included.
The TRX integration has come to provide steemit users with more opportunities in earning rewards, and this as well has brought more adoption to TRX which sort of provides publicity to the TRON blockchain. The ratio of TRX to Steem on payouts has fluctuated and reduced from time to time and it is currently on 0.5 TRX:1.0 SP, claiming of reward is the same as claiming an SP reward and this is done directly from the Steemit wallet and users can also link directly to TronLink for easy access.
Thank you everyone for coming, I hereby invite @solexybaba, @josepha, and @Sahmie to participate in the contest as well.
You are right, at the very initial start of the integration, users with 100% power up payout used to be receiving twice TRX as SP which is 2:1 and users with 50% sbd and 50%sp received 1:1 ratio of the payout. That’s at the very initial start. But with how the market fluctuations and other factors, the ratio now is not fixed but keeps on changing with the effect of the market. Also with how the TRX token takes time to reflect in our wallet is also as a factor or influence of the market. Good luck
Your post has been supported by @simonnwigwe from Team 2 of the Community Curation Program, at 30%. We invite you to continue sharing quality content on the platform, and continue to enjoy support, and also a likely spot in our weekly top 7.
Thanks for the support simon , one of my great supporter on the steem chain.
You have written so well on this topic my friend, you said that the main purpose of the integration is to give steemit users more additional reward and also make the both blockchain more visible to both steemit and TRX users. You have also explain clearly a step by step means in which one can be able to connect their steemit wallet to an external wallet address. I wish you success in this contest my friend.
hello dear,
You have shared a very nice post. Besides, you have presented the post very nicely. You have shown and taught a lot in your post and shared a lot of information. As you shared in your post earlier when steem and tron merged we were rewarded with 1 tron i.e. one trx instead of one steem power. But after the new project between steem and tron since then we are getting 0.5 trx for 1 sp. And you also shared how we can claim for Steam SBD TRX. Also showed how TRX token can be transferred to other exchange side i.e. withdraw. Also showed how we can connect tronlink wallet to tron wallet. Also see how we can be much more rewarding. And also showed how we can be much more rewarding through curation. And you shared more information about Steam and Tron. And I like your participation much more. Thanks a lot for sharing such a beautiful entry with us. Best wishes to you. Wishing you success from afar. May you be well, be healthy, take care of your body.
best retards @shohel44
This to me is an exemplary write-up on this topic my friend, you've stated the main purpose of the integration is to give steemit users additional rewards in the form of TRX. Your step-by-step procure to connect the steemit wallet to an external wallet is explicit as well. I wish you success in this contest my friend.
This to me is an exemplary write-up on this topic my friend, you've stated the main purpose of the integration is to give steemit users additional rewards in the form of TRX. Your step-by-step procure to connect the steemit wallet to an external wallet is explicit as well. I wish you success in this contest my friend.
Hi dear,
I am pleased to read your participation and you have shared a detail about Steem and Tron blockchain integration, it's purposes to merge, the benefits users get after this integration. But I think there is some misconception, I have read thoroughly steemit blog posts where the integration started in February 2020.
In 2nd and 3rd question you have explain all the steps of redeeming your steemit rewards also the different ways to withdraw Trx through steemit wallet either to Binance or any other application. You have shared a description of steps as well that users will easily understand the method.
Overall you have shared a good post and deeply describe all the queries asked by contest organizer. Thank you for sharing your participation. Best of luck for the contest. Please visit my participation and share your views too.
Hello @badmus-official,
Yes, you are right the main purpose of this integration is to give Steemit users some additional rewards in the form of TRX tokens. Also, one of its goals is to bring Steem users to the Tron blockchain and Tron users to the Steem blockchain.
Your question number 2 and three were also very informative in that you told us some ways to redeem TRX rewards and you also connect Steemit wallet to Tronlink pro wallet.
Like you, we also faced some issues related to TRX rewards, but all issues are now resolved. Your post was really informative. Thanks for sharing. I wish you all the best.
Regards,
@malikusman1