Steemit to Shift Its Proprietary Blockchain and Token to Tron Network

The Tron Foundation, a cryptocurrency firm that is known for hyping its long ledger of partnerships, appears to have entered a particularly important one today.

The maintainer of major cryptocurrency Tron (TRX) has just partnered with Steemit, a major blockchain-based blogging and social networking website to provide its network for Steemit services.

Steemit old token STEEM to move to the Tron blockchain, too

As part of the strategic partnership, the Tron Foundation will work with the firm to move Steemit and other Steem blockchain-based decentralized applications (DApps) to the Tron blockchain, the firms said in an announcement shared with Cointelegraph on Feb. 14.

The partnership also includes the shift of old Steem (STEEM) token to a new STEEM token based on the Tron blockchain. Following the news, Steem token surged almost 26% over a 24-hour period as of press time. TRX has also edged up notably, trading 10% higher at the time of publication.

Additionally, the collaboration will enable giveaways to the existing TRX users with the new Tron-based STEEM token as well as a new accelerator program towards the developer community.

Tron founder and CEO Justin Sun expressed confidence that the new partnership will allow the companies to “usher in a new era of decentralized social networking.” Sun confirmed the news on Twitter, giving the name Steemit 2.0 to the upcoming Tron-based Steemit.

Tron and Steemit will be driving mass adoption together