The Steem News @ 14 February 2020 - Steemit Joining TRON Ecosystem

in The Steem News12 days ago (edited)

It's happened - Tron has taken over Steem and Steemit Inc.

Just announced by Justin Sun on Twitter....

"Steemit Inc., the largest decentralized blockchain-based social media and blogging platform, announced a strategic partnership with TRON Foundation. TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain and its community of over 20 million users, products, and services."

The full text is on Medium...

TRON is one of the largest decentralized ecosystems, providing fast network speed, high throughput stability, and scalability. This partnership continues the beat of TRON’s rhythm in partnering with top firms like Samsung, Poloniex, Opera, and DLive to provide a dynamic value proposition to its users, investors, and community members.

Steemit is offering a Reddit-alike service built on top of the Steem blockchain. As one of the largest DApps cross all the blockchains, Steemit also claims a thriving community of its own due to a growing number of DApps developed on the Steem blockchain with over 1 million users. Some popular real-world use cases on Steem blockchain include the Youtube alternative D.Tube, Instagram alternative APPICS, and fitness Dapp Actifit. Steemit was founded by Ned Scott and Dan Larimer in January 2016. Larimer led the engineering of Steemit’s earliest technology and later went on to lead the development of EOS, a highly visible blockchain protocol.

Together, TRON Foundation and Steemit Inc. will look to create further value for their users and to augment their advancements in decentralized technologies, including moving old STEEM token to a new TRON based STEEM token, giveaways to the existing TRX users with the new TRON based STEEM token, as well as a new accelerator program towards the developer community.

This partnership further empowers TRON’s title as the blockchain industry’s leader in distributed ledger technology with over 800 Dapps now in its ecosystem.

“We are very excited to welcome Steemit into the TRON ecosystem,” says Justin Sun, Founder of TRON and CEO of BitTorrent. “Together we will usher in a new era of decentralized social networking.”

“Steemit is the original conception of forums meeting cryptocurrency to achieve mass adoption — where cryptocurrency could be distributed as easily as “likes” and “upvotes” and this high powered distribution mechanism would bring adoption and appreciation to the currency and the social network,” says Ned Scott, former CEO, Chairman and Founder of Steemit. “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.”

More at...



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including moving old STEEM token to a new TRON based STEEM token

Ahn?

The link has been removed by tron. A new token. Hmmm. Wtf. Not so sure that's the best way forward, but it could be an smt

Yes I was partly surprised they are ditching the Steem blockchain after all the work on MIRA, Hivemind etc.

But was not unexpected after they are doing after taking over DLive - Lino blockchain is going.

Make sense I guess - but not sure how it will pan out for all the DApps/developers on Steem who will have to convert.

I sure hope we get some official statements that amount to something tangible as to what's really going to happen here... right now, I am more confused than anything, and it all reminds me so much of the early days of tech/dot-com stocks where billions were made and lost on "Big Stories" with little functional implementation to back them up.

Sign me...
"Confused in Washington state..."

So trx users get free “Steem”?! And the Steem we’ve invested in is just some “old” junk? Do I understand correctly?

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I am still not sure if this is good news or bad news...

While Tron have it's merits, this kind of means that the Steem blockchain will cease to exist (unless there is a hardfork creating two STEEMs) and will be part of the Tron blockchain.

Also, Tron and Justin sun have some image problems...

I honestly don't know.

I guess we will have to wait and see, especially how the current witnesses will position themselves about this...

What are the pros and cons of this development?

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Gaming dapps for starters bringing more users.

Dlive coming back to steemit via Tron also 👍

This makes me so happy. Hopefully with new ownership the Steem whales that bully users will be kicked off.

Given that Steemit Inc have worked with the other dapps before you would think they are not going to abandon them now. Alienating the community would do them a lot of harm. I hope they issue a statement soon.

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This is great news, but I still don't understand the details of the partnership and what it will lead to. Steemit will get a new owner?

Steem is o place 70(yesterday 77) and tron on place 12 on coinmarketcap.
We can only win.

No surprise to me at all. Thank you for this special news flash. If it was not popcorn time before it is now!

I am hoping for the best, and have already prepared for the worst. Stanley Reynolds did not raise a fool.

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I get how he could buy steemit.com and migrate it over to Tron, but how the heck would you force every dapp to be run on it? Did he buy every company running on Steem or smth?

I am guessing Tron will control Ned and Steemit Inc's mega STEEM stake, and therefore be able to take it in whichever direction they want.

Presumably there will need to be some sort of attractive swap for STEEM to TRON.

Yeah, that's going to split the community and probably cause a painful transition. I don't want to move over to Tron for example, that thing is not scalable like Steem is.