Steemit and Tron could unite under Justin Sun’s leadership to bring more decentralization to the Web and Tron ecosystem.
By Jeff Fawkes
Updated
3 mins read
Steemit was launched in July 2016 and can become a good additional network for Tron‘s business model.
According to the Mars Finance Weibo channel, Justin Sun said that his company had received two new companies during a series of acquisitions. Later, the secret source in TRON told Mars Finance that the plans to unite with Steemit are true. More than that, a Chinese news website Huoxing24 reported the same information, however, the article is gone from their website at the time of writing.
Justin Sun announced acquisitions via Twitter on December 1, without revealing the details though.
One more announcement! Stay tuned for new acquisition in $BTT & $TRX ecosystem! #TRON #BitTorrent @BitTorrent
— H.E. Justin Sun 孙宇晨 (@justinsuntron) December 1, 2019
The announcement came after Justin reportedly inked a deal with POOL-X, a PoS-based mining/staking pool created by KuCoin. The pool will allow the TRON blockchain to safely operate within a next-gen PoS mining network. But this deal is not an acquisition, it’s a partnership.
#TRON's mission is to be the underlying architecture for dApps, and therefore building a truly decentralized internet, which is consistent with the vision of Pool-X.
We are proud to announce that @Tronfoundation joins forces with Pool-X and we will embrace a new era of PoS!!🤝 pic.twitter.com/4GdMNGxCo4
— KuCoin Earn (@KuCoin_Earn) December 2, 2019
Steemit.com is a distributed network where authors from across the planet share their investigations, news, thoughts on cryptocurrency and computer technology. Steemit presents itself as a blogging stage, but with blockchain and tips in the native currency. Killer feature: the authors can receive tips right on the go, then send the money from the platform to exchange and dump it for cash.
To avoid censorship Twitter, Facebook and Google are so famous for, Steemit stores user texts right on the blockchain, preventing re-write attempts or third party interference. Be careful! Once you put the texts onto the Steemit blockchain, there is no way to delete them.
The blockchain industry is still a Wild West, attracting different venture seekers like Justin Sun. Captured by the Chinese police, he was going to share a lunch with American trading shark, Warren Buffett. Because Sun was released soon after talking to the authorities, we see that the cops won’t halt Tron’s inner workings.
Strategic mentorship is somewhat a common case in China, where government officials come to the companies for a quick talk. The incident with Buffett shows a very good sign to all the Tron supporters. If Sun was manipulating the markets or is involved in a shady ICO scheme, the cops would not let him go, so he is a clean guy (at least, by now).
The poll by the trader’s community veteran and Signal Profits host has ended on 29 November 2019. Results indicate that at least half of the 2400 crypto men army is considering Justin Sun as a genius. The question was whether Sun is a genius or just a lucky young entrepreneur.
Jacob Canfield notes in his poll that Justin got the Poloniex exchange from Circle for pennies, bought the cash flowing BitTorrent, and sold copy-paste tokens for millions “after announcing the announcements”. Well, what to say? If you want to play tricky games, make sure that nobody can guess your real intentions.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Jeff Fawkes is a seasoned investment professional and a crypto analyst. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.
