The Tron Foundation, a cryptocurrency firm that is known for hyping its long ledger of partnerships, appears to have entered a peculiarly of import 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 motion to the Tron blockchain, likewise

Every bit office of the strategic partnership, the Tron Foundation volition 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. xiv.

The partnership also includes the shift of erstwhile 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 menstruum as of printing time. TRX has as well edged upwardly notably, trading ten% college 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 Dominicus expressed confidence that the new partnership will allow the companies to "conductor in a new era of decentralized social networking." Sun confirmed the news on Twitter, giving the name Steemit ii.0 to the upcoming Tron-based Steemit.

Tron and Steemit volition exist driving mass adoption together

Ned Scott, a co-founder and chairman at Steemit, emphasized that the platform was created in 2022 with the original mission of coming together cryptocurrencies to achieve mass adoption. Scott continued:

"From launching the platform in 2022 on a shoestring budget to today, I've enjoyed the development of the platform and the growth of its user base -- at present I'm excited to see a strategic partner attempt to bring it to new heights."

Providing a Reddit-alike service running on the Steemit'southward proprietary Steem blockchain, Steemit is one of the largest DApps, with over ane.three 1000000 registered accounts every bit of press time, according to data from Steem block explorer. Steemit is too known for releasing blockchain-based alternatives for major media websites like Youtube and Instagram such as DTube and APPICS.

The partnership will patently bring much more than traction to Tron's blockchain with Steemit'south solid user base of operations. According to data from website traffic analysis tool SimilarWeb, Steemit website had over vii.8 million visits in January 2022. According to the proclamation, Tron'southward now has over 800 DApps running on its ecosystem.

The news follows a reported bug on the Steem blockchain-based rewards platform for publishers in September 2022. In fact, the platform apparently experienced multiple bugs on its blockchain, with some of them halting the network performance for at least two days.

Andrew Levine, caput of communications at Steemit, noted to Cointelegraph that the visitor has been actively working over the past twelvemonth despite largely avoiding the spotlight in 2022. Levine said:

"A lot of people think we've been continuing yet for the past year, but we've been working a lot on our infrastructure including Hivemind, Mira, and with communities on Steemit."

Before in February, Tron founder Lord's day finally had his charity dejeuner with Berkshire Hathaway chairman and famous Bitcoin (BTC) critic Warren Buffett after a series of delays in 2022.