Blockchain-based social media platform Steemit to transition to Tron blockchain

The Tron Foundation and Steemit Inc have announced a strategic partnership that will see the blockchain-centric social media platform migrate to the Tron blockchain.

"TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain," the companies said in a press statement.

However, there appear to be conflicting statements regarding whether or not the Tron Foundation or Justin Sun actually acquired or invested in the startup behind Steemit.

When reached prior to publication, a press representative characterized the deal as "a partnership move to scale Steemit operations."

When asked if Tron Foundation had made an investment in Steemit, the representative said:

"No, Steam chose to move to the Tron blockchain and the two wil launch a joint accelerator to promote more development of the Steemit platform."

When reached for comment shortly after publication, the Steemit team said in a statement: "A mutual agreement was made on both sides involving Steemit's future and more than money, Steemit required the infrastructure and community support of a scalable network that only TRON provides."

Yet Ned Scott, Steemit's co-founder, said on Twitter after the announcement that he "sold Steemit to [Justin Sun]."

Sun did not immediately respond to an email request for comment.

Hints before announcement

Tron founder Justin Sun indicated that such an announcement was forthcoming during a podcast interview earlier this week, as noted by a Steemit user in a writeup on the appearance. Sun was quoted as saying that the Tron Foundation has 

"We are backing the projects but we are not the person to lead those projects," he remarked. When asked by host Ryan Selkis if that includes Steemit as well as crypto exchange Poloniex, Sun said yes.

"And also of course Steem, like we haven't said anything about Steem yet. So, its all, like, in commercial, like, discussion. We haven't, like, released any news," he continued.

This article has been updated with additional information.