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Blockchain-based Social media platform Steemit partners with TRON Ecosystem

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Jayashree Ingle Follow

INDIA

Feb, 19 2020

Feb, 19 2020

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The largest decentralized blockchain-based crypto social media platform Steemit has announced a strategic partnership with the TRON foundation. As part of the partnership, both the teams of Tron and Steemit, have started working towards bringing together Steemit blockchain-based DApps to TRON blockchain with its 20 million users, products and services.

Problems faced by Steemit

The Steemit website has a huge traffic of 30 million monthly page views which makes it difficult to drive its own cash flow due to insufficient infrastructure.

With a 30 million monthly user base, Steemit was facing some technical challenges. Such as it has outdated UI and user dashboard and insufficient search mechanism. It also lacks various other infrastructural drawbacks like it lacks content suggestions, proper conversation funnel, and sufficient value proposition to the site visitors. Moreover, the leadership was unable to run the website was concentrating more on millions of STEEM tokens.

Almost 80% of Steemit traffic is sourced from search engines that have no blockchain users. But Steemit was unable to pool such massive non-blockchain audience due to the lack of proper infrastructure. Tron network with its strong infrastructural base would now be handling the massive inflow of the visitors.

How the partnership will work?

The Steemit community is cautious of this acquisition and is deeply concerned about the migration of the STEEM token.

Regarding the concerns Justin Sun quoted on 16th February,” I don't think we have a plan for immediately like token swap so I think we will keep both steem from tokens separate and run separately… there is no token swap for right now... I just want to talk with the team and found out the solution to integrate eventually for steem, Steemit, and Tron.”

However, the partnership will establish TRON as the leader in the blockchain industry with around 800 Dapps in its ecosystem. Steemit’s UI and UX will now be more competent with content goliaths and Tron will get access to Steemit’s massive crypto user base along with valuable content generated over the years which will add value to its ecosystem. Whereas Steemit will now try to expand its user base by regaining its 150 million user base.

Tron Network

TRON network which is a pioneer in decentralized services is known for its fast speed, high stability, and scalability. Tron previously has acquired BitTorrent in 2018 and another blockchain-based streaming platform DLive in 2019. DLive was originally on the steam blockchain and was popular among the Steemit users before migrating to the Lenovo network. DLive was then migrated to the Tron network.


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Jayashree Ingle

CBW - External Analyst

INDIA

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