- TRON has saved Steemit from crisis and will accelerate the future growth. The platform has been in financial trouble for several years.
- Steemit receives resources for the development of the platform. A new feature is launched to improve the user experience.
After a few months of speculation, on February 14, 2020, TRON’s cooperation with content platform Steemit was made public. The announcement was part of a surprise that TRON CEO Justin Sun promised to the platform users. The cooperation aims to strengthen the progress of decentralized technologies and create a better experience for Steemit users.
Steemit is the largest social network based on a blockchain, Steem. The content platform has more than 20 million users. It was founded in 2016 by Ned Scott and Dar Larimer and is an alternative to traditional media such as Reddit. The platform has been facing economic problems since 2018. At that time, the fall in the price of Bitcoin and the crypto market, forced the platform to make cuts.
Steemit’s Managing Director, Elizabeth Powell, recently said that the cooperation with TRON saved Steemit from a “breaking point”. According to Mike McCarthy, a member of the Steemit community, the number of active authors began to decline rapidly in late 2018. McCarthy reports that this occurred because of the 70% cut in Steemit employees. According to Powell, the cooperation with TRON has given them the tools and resources needed to improve Steemit’s development.
Powell’s statements are combined with a publication by the Steemit team. They state that a roadmap will be made in conjunction with TRON to “form a mutually beneficial connection”:
If we can combine TRON’s resources, engineering talent, and industry-leading platform, with our amazing community, 3rd party applications, and unrivaled technology, we are confident that we can dramatically accelerate the adoption of decentralized systems.
The Steemit team said that when the roadmap reaches consensus, it will be made public to the entire Steemit community.
According to Steemit Managing Director @EliPowell, the TRON partnership has "saved Steemit from reaching a breaking point".
Interestingly, active authors on @steemit were in steep decline in advance of their 70% employee downsizing (Nov 2018).
CHART CREDIT STEEMIAN: @arcange https://t.co/AQEtONEkw3 pic.twitter.com/Q3p9P1rZc2
— Mike McCarthy (@Mike_Bitcoin_X) February 28, 2020
Uncertainty in the Steemit community due to cooperation with TRON
However, members of thee community have expressed their dissatisfaction with the cooperation. The biggest concern of the Steemit community are the upcoming changes that may occur in the future. Furthermore, they are concerned that past agreements made with the community will not be respected. One of the users of the platform commented the following about the roadmap that is being created:
Justin Sun’s idea for how to manage Tron does not really fit with the community and ideals of Steem.
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