A blockchain-powered social networking and blogging site, Steemit, has cooperated with the major digital currency Tron (TRX). As a major aspect of the vital association, the Tron Foundation will work with the company to move Steemit and other Steem blockchain-based DApps to the Tron blockchain.
On Friday, the companies declare that Steem and Tron developers will be working jointly to moving STEEM users and goods to the Tron network, and finally switching the STEEM tokens for a new Tron-based version. As the news broke, STEEM token jumped almost 26% over 24 hours. TRX likewise moved-up strikingly, exchanging 10% higher once the news broke.
Steemit and Tron Joining Brings Wide Adoption
Steemit co-founder Ned Scott stated that the platform was built in 2016 with the primary mission of allowing cryptocurrencies to attain wide adoption. Scott continued:
“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.”
Steemit is one of the biggest decentralized applications, with more than 1.3 million enrolled accounts at press time, as indicated by information from Steem block explorer. Steemit is additionally known for publishing blockchain-based options that compete against significant media sites like Instagram and Youtube.
The association will carry significantly more traction to Tron’s blockchain due to Steemit’s strong customer base. Tron organizer and CEO Justin Sun communicated that the new association will permit the organizations to “introduce another time of a decentralized person to person communication.”
On Twitter Sun proved the news, providing the name Steemit 2.0 to the upcoming Tron-based Steemit.