Steemit Crypto Academy Contest / S8W3 - Steem and TRX Integration

in hive-108451 •  2 years ago 

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Hello fellow steemians. I hope you are all having a good time with your loved ones. It is a pleasure and a great opportunity to be able to participate in this week’s crypto academy contest. This week happens to be a busy week for me, that will have to do with some academic activities here in school. But i am managing to make some time to participate in the contest. The topic of the contest for this week whic is the Steem and and TRX integration. Which simply means collaboration between Steem and the tron network. It actually took place in the year 2022. Actually this initiative or task is indeed done for the betterment and improvement of the steemit platform. Which we are all happy about and have been benefiting from it for a while now.So the contest, is actually asking us with the questions below to talk more or elaborate about this integration between tron and the steemit platform.
What do you know about Steem and TRX Integration? What are its purposes?
The integration or collaboration of these two blockchain networks happened purposely for both of them to be able to grow and mingle together . This growing in line or together specifically has to do with the tron network growing alongside the steem blockchain. Not just for the two blockchains to grow together but for their users to be able to benefit and interact from both blockchains.



With the steemit platform being a decentralized social media platform. Users of the tron network will be introduced to the steemit platform after the integration. So they will find out what the steemit platform is about and will now also sign up on the steemit platform to also start blogging. Users of the steemit platform too will now be making digital assets of not only the native coins of the steemit platform which is the steem, sbd and the sp but also in addition, they will be awarded with trx too.



The reward of the steem token users are rewarded is the same ratio as the trx they will be rewarded too. So users will be earning more rewards on the steemit platform which is as the result of the integration. Steemit users at the end of the day are given an option to diversify their rewards or earnings. Whereas the Tron network increases it liquidity. Also the tron network gains more popularity and recognition therefore people will start to patronize it and also introduce others to it. The main purpose of the integration was to help both of the blockchains to gain popularity and grow together.

What is the ratio of TRX tokens on our payouts? Also, give the history of this ratio (how it changed time by time).
The ratio of the steem power to the trx at the very beginning that was after the integration was 1:1 which means that for every post payout the amount of sp a user will claim is the same amount of trx he will claim too. That’s to simply say that 1SP is equal to 1TRX.



Also, in the case whereby a post is set to payout only in SP and not any other native coins of the platform. Then the users will get twice the number of the usual TRX from the post’s payout. So this clearly explains to us that with market conditions, the ratios of these two integrated blockchains changes or varies. Therefore the ratios are not set or fixed on them.



As at now, that’s the from the current state of these two ratios. A 50% SBD / 50% SP payout will give 0.25TRX TO 1SP whereas a 100% power up will give 0.5TRX to 1SP which was announced by the steemblog recently. This clearly shows that the ratios of the two is not fixed but rather changes with market influence.

What are the ways to claim and withdraw the TRX rewards from Steemit Wallet?
In order for one to claim his or her rewards from their wallets. The will first of all have to log into it by using their username and their private posting key which can be found within the pdf which contains all of your steemit keys. You will be only to claim it if the post has paid out. The reward will be displayed in your wallet for you to claim. Below are the steps in doing that.

Log into your steemit wallet with your username and your private posting key

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If there is a reward available, you then click or tap on it to simply claim them. The rewards usually consist of the different steem native coins together with the TRX.

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As you can see there is actually no reward there for me to claim

After claiming or redeeming the rewards, each of the rewards will be added to your wallet so as the TRX too. So the TRX will also go into your tron wallet. The adding up of the recently claimed rewards doesn’t reflect in the wallet immediately but rather takes time to finally reflect in the reward pool.



WITHDRAWING YOUR TRX FROM YOUR WALLET

As you are already logged into your steemit wallet.

The next thing to do it to navigate to the section that indicates or shows TRX and then click on the drop- down sign. After which a list of menu appears.

You then select transfer from the list of menu

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After which you then click on the switch tron account tab

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From the provided bars, paste in your external tron link and the amount you wish to transfer

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The next thing to do is to confirm the transaction and then you will be asked to provide your private key at the end to make the transaction successful.

Give a complete guideline on the best way to link an external wallet with the Steemit Wallet to claim TRX tokens.
Well the very first thing you need to do is to download one of the external wallets apps used in linking our our steemit wallet to claim the TRX tokens. One of the best one i have chosen and will like to suggest for any other person is the Tron link wallet. It is actually one of the best in the market. Moving forward to how how the linking is done from the steps below;

** After one has successfully downloaded and then signing up their account. The homepage will now display for you to start interacting with the features available.**

The very first thing for you to do when trying to link your steemit wallet to the external wallet is to navigate to the top right corner of the homepage and then click on the add icon. After which a new page appears. Select import wallet from the list of menus.



The next thing to do is to put in your TronLink private keys. Which are a list of 12 words. After which you then click on next step to continue with the process. After which you can proceed to change the name of your wallet.

After the above steps, you then proceed to put in your password. Which will require you to put it twice. After the passwords, you then proceed to confirm for your wallet to set up.

The final steps in linking your steemit wallet with your external wallet
Have you faced any problems regarding TRX rewards? Also, give your feedback on the benefits of this Integration.
Because this is a general thing, that’s the distribution of rewards to users according to what they have earned under a post. I haven’t personally experienced or had any problem with the distribution or earning of the TRX reward. I always happen to be receiving my reward just that it sometimes takes long to reflect in the account. Also the amount does fluctuates before it could reflect in my account.



FEEDBACK OF THE BENEFITS OF THE INTEGRATION

Actually the integration has brought about an additional earning of rewards to the ones the steemit platform already provide or gives to it users. Not just the only users of steemit but also the users of the Tron blockchain are having a good experience with the blockchain due to the integration. The blockchain is gaining recognition through the payout and also the network is being adopted or used by new users which adaptation as a result of the integration. Lastly, both blockchain networks are benefiting from one another.

Conclusion
In conclusion, the integration of the TRX and Steem blockchain has made the experience or work on the steemit platform more enjoyable and inviting. It is inviting because new users have joined the platform as a result of the integration. The TRX blockchain has also gained so many adaptations or new users after the integration. Which i will say has benefited both of them.



The integration which was done in the year 2020. The rewards to be distributed in the very beginning was set on a 1:1 ratio. But with how the market behaves or acts the ratio happens to be changing or varying with the flow of the market. Which has rendered the ratio not to be fixed. Lastly, in order for us to withdraw and utilize our TRX token, we can link our steemit wallet to an external wallet most preferably TronLink to withdraw and utilize the token.
I hereby invite @preye2, @josevas217 and @fantviwiki to participate in this contest

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Nice one my dear friend

hello dear,
You have shared a very nice contest with us You have said and shown a lot about steem and tron You have shown how to connect tron ​​wallet with tronlonk pro application Also how can we claim for trn steem sbd in wallet Also, after the merger of Steam and Tron, the two communities have a good relationship, and everyone knows about the two communities. Also earlier we were rewarded 1 tron ​​for steem power, but after the update between steem and tron ​​we are given half tron ​​for steem power. For example, earlier 1 tron ​​was given for 1 sp, and Rewarding 0.5 tron ​​for 1 sp after new update We also reward additional trons through curation Also you show how to withdraw Tron to another exchange site In one word, it has been amazing Good luck to you again. Wishing you success from afar.
best retards @shohel44

Thank you for reading my article and understanding what i have posted out here very well

A very commendable work you have shared with us friend. Seeing your understanding of the topic at hand is vast. Good luck friend, thanks for sharing.

Thank you buddy

You have written greatly on this task my friend. The steem and TRX integration is one of the best thing that has happened to the steemit platform as there are more rewards for steemit users. This has also brought in more TRX users to the system.

You have also given a complete practical guide as to how you can link your steemit TRX wallet to an external wallet like TronLink. The explanation is quite clear and even a newbies will be able to do this while reading through your post. I wish you the best my friend.

Thank you for the positive comments. It is my pleasure

Hi brother,

You have shared a great participation and elaborate all the things about Tron and Steem Blockchains integration. It has a lot of benefits but the best is users on steemit get extra rewards and users from Tron platform get a chance to share their content on steemit, get support for their good quality content.

You have explain all the steps of steemit rewards claiming and adding to the steemit wallets. The best part is you have shared the linking of your steemit wallet to external wallet like Tronlink pro. You also share your issues while claiming Trx few months back as all users were facing this issue.

But then steemit team resolved this as it was a technical error. Overall you have shared a good participation. Best of luck to you. I also participated first time in cryptoacademy task. Please visit and share your views.

Thank you buddy for taking your time to read my blog.

Hi bro @habdallah,

Thank you very much for sharing a very nice post about Steem and Tron integration. You have explained very well in this post, especially in question #3, where you linked your Steemit wallet to an external wallet, called Tronlink pro.

You have described a very nice benefit of this integration that it brings Steem users to the Tron blockchain and on the other hand Tron blockchain users to the Steem blockchain. From this we can infer that this integration is really beneficial for the development of both blockchains.

Your post is really informative, as it provides a lot of knowledge to us. Success!

Regards,
@malikusman1

Thank you buddy

Hey friends @habdallah

This your post is really good to read, I have read through it and I am proud to say you have impacted so many important knowledge unto me, your post brilliantly break down steem and Tron integration into a simpler one. Thanks for sharing

Please comment on mine too
https://steemit.com/hive-108451/@starrchris/steemit-crypto-academy-contest-s8w3-steem-and-trx-integration

Thank you

Nice one my dear friend, you really tried in this contest

Keep doing your good work

Thank you buddy