The blockchain-based social media platform that pays its users to create content and known as Steemit has closed a partnership with TRON so that Steem users and dapps will be available to TRON.
The announcement was made on Friday and says the developers for both companies are going to oversee the migration to the TRON network while the STEEM token is going to be replaced with a version from TRON. A timeline for the migration wasn’t yet released.
— Justin Sun (@justinsuntron) February 14, 2020
Steem Has Over 1 Million Users
According to a press release, Steem, which was founded by Ned Scott and Dan Larimer, has over 1 million users. This is how Scott described Steemit, Steem’s platform:
“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.”
The partnership comes at the same time as the Larimer-backed social media network VOICE was launched in beta.
Steemit Pays Its Content Creators in STEEM Tokens
As said before, Steemit is different from other social media platforms because it rewards its users with STEEM tokens for creating content, upvoting or commenting. Here’s why the STEEM tokens have value, according to Steem:
“Steem is a game system where users compete for attention and rewards by bringing content and adding value to the platform. The rewards people earn are tokens that have market value and are readily tradable. It is similar to how someone playing a video game could obtain a limited item or currency by playing the game. If the currency or items are transferable between users, then they can sell or buy them on game item markets.”
Justin Sun Wants to Create a New Era of Decentralizes Social Networking
Talking about the new partnership with Steemit, TRON Foundation’s CEO and founder Justin Sun had this to say:
“We are very excited to welcome Steemit into the TRON ecosystem. Together we will usher in a new era of decentralized social networking.”