This time it is for real.
Ned Scott , SteemIt, and Justin Sun, TRON, confirmed.
But not Steem, right?
Steem as a dApp and multi-media publishing blockchain system, as developed by Daniel Larimer, probably will stay substantive. At least that is what I thought, until I read a TRON announcement publication on Medium. The title being "Steemit Joining TRON Ecosystem", it does indeed state that this involves SteemIt the company and not Steem the blockchain. Although most Steem Blockchain account owners probably are unaware about the difference between the two. Maybe not even knowing that they are active on a blockchain system. But that is maybe even part of its succes.
Ned Scott, former SteemIt Incorporated CEO, decided it was time to move on, after 4 years. And just like with Daniel Larimer moving on to new challenges, I wish Ned all the best with his future enterprises. The timing might be a bit strange, with the release of the Smart Media Tokens {SMT} on the main net just around the corner. Yet, it would be weird if this would mean SteemIt could not function as a substantive company anymore. Or that this would end the development of SMTs, meaning they would never go live. None of that though, I think, as this is not something that is just constructed at night in a bar over a couple of beers. This must have been a tough decision to make. And I would be amazed if Ned Scott suddenly could seen as a CEO of VOICE. That one, running on EOS, wend live on BETA today, strangely enough only for Americans, as they could not even buy EOS legally during the ICO. (They lost me though.)
But there is this one little thing...
In the TRON published Medium article, about the cooperation with SteemIt, there is the weird paragraph that got me worried for a wee bit. It is about Steem {STM} as a Token. Let me share that with you first, but check the source yourself, as I could be making this stuff up. Read it carefully and let me know in a reply what you make of it. Because I do not really like what I make of it.
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.
And think it is easy to spot what worries me, but if not to you, here it is: 'including moving old STEEM token to a new TRON based STEEM token'... Now I have no clue as to what that means yet. Yet, it seems very strange to move the so called 'old Steem' (Wut?) to the TRON blockchain, where it will arise and be given to TRX users. Come again...!? Would you like to make this bold claim again? And how about the Steemians? The Steem blockchain does 1 block every 3 seconds, transactions are for free. TRON is a lot like the Steem blockchain, with 3 second blocks and TPOS, an improved version of DPOS, that Steem uses.
A split between dApps, Publishing and Tokens?
When I try to wrap my head around it I see as Tokenized platform on a Blockchain, that is TRON and a dApp and Multi- Media platform on Steem. Mix those two and SMTs seem not even needed, or they will and get connected to TRON, even running on that blockchain. Because if one Token gets moved from the Steem blockchain to TRON, what is the use of the upcoming SMTs to stay behind? Intertwining those two to make one huge decentralized web3 system. Even moving multi-media data onto the Bittorrent network, relieving the SteemIt Incorporated, and others, from renting expensive cloud storage at Amazon. With another live video platform becoming connected to Steem (again), namely: dLive. But I do not know if Steemians will be happy about all of this. If this plays out the way I think it does. And I believe it is to extreme to suggest it is all just a big publication stunt, to get in the way of VOICE.
Some might belief this is huge and that it will pump the price of STEEM beyond belief. Heck, why not into the top 25 before monday. It would not surprise me. There are 4 million accounts on the TRON blockchain, 1 million on Steem, many using Bittorrent and dLive, where Pewdiepie does his thing. That does seem to have a lot of potential, but at what cost? If the 'old Steem' Tokens move to a new Steem Token on the TRON blockchain, what does that mean for Steem Power {SP} holders? And for those who have liquid Steem {STM} and Steem Backed Dollar {SBD} in their wallet? Recently I bought a bunch of accounts, using Blocktrades, and filled them with a little SP, was that a mistake? This is a kind of weird really, to me at least. And new Steem Token giveaways to TRX users, who's are those to be given away? Some explanations would be welcome the next few days, weeks and perhaps months...
Forking off, is possible.
Now, SteemIt Incorporated might be sold, but that does not mean Steem the blockchain is. The source-code is Open Source, there are lots of great developers and supporters. As seen from a technical point of view, I am convinced that even if TRON gets its 'new Steem' (now that has gotten a strange after taste), then the Steem blockchain can still go on as it is. That is, if the Witnesses and Steemians want it to happen that way. Then the TRON blockchain has a 'New Steem' Token, that TRX accounts can get a hold of. But what if the majority of Steemians and Witnesses decides to move house? Meaning, forking the code, making a fresh new start, with SMTs, but with empty accounts and an empty blockchain. And with a much slower emission of the newly Tokens. But what about the investments, that is what has many chained to this construction. No one wants to leave SteemaTRON empty handed. Which is completely understandable. The other way would be a one on one move-over, but maybe all of this is not needed.
The way this whole SteemaTRON thing gets handled seems a little strange, to state the least. Suddenly it is there, just like that, or so it seems. And though I guess it will not be the first choice for the many, there are enough smart Steemians who can make a fork off work. If and when things start to get pear shaped, that is. Then there is always the Power of Fork. And do you think that I'm jumping to conclusions, let me know how so. Or what you think this means: 'including moving old STEEM token to a new TRON based STEEM token'. And in the meantime I will think about a proper name for a possible fork. While Justin Sun might be happy to join here and explain the future plans. And I guess there is going to be a lot of talk, maybe even too much talk...
SteemIt joining the TRON ecosystem.
Image from https://medium.com/@TronFoundation/steemit-joining-tron-ecosystem-6ad66584d0b