Tron Network Acquires Steemit

News reaching us has it that Ned has sold Stemit to Justin Sun of Tron Network. This was made public by a tweet from Ned who is the former CEO of Steemit.

In his tweet, he said “Steemitans and Twitterers, after four beautiful years, I have sold Steemit to

. AMA tomorrow at 9 am PT.”

Below is an excerpt from a medium post made public through Tron’s medium page:

‘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.

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.”’

Read the full post through this link

 

 

I hope this new development will bring more blessings to the community.

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