Steemit Crypto Academy Contest / S8W3 - Steem and TRX Integration

_{Designed using Pixellab App Handshake Clip}

INTRODUCTION

Integration is termed as the coming together or mixing of two or more entities. It is a form of merger between two organizations to work in accordance as one unit. Today, we are to learn of such integration between two heavy weights in Blockchain industry.

What do you know about Steem and TRX Integration? What are its purposes?

For the basic difference, Steem is a token of the Steem Blockchain earned via Steemit while TRX is a token of the Tron Blockchain.

TRON is an avant-garde decentralized blockchain enacted to establish a truly decentralized Internet space and its infrastructure.

The protocol utilized by TRON is considered one of the largest blockchain-based operating systems the world has seen and it offers public blockchain support of high scalability and availability for all Decentralized Applications (DApps) in the TRON ecosystem. Whereas

Steemit is said to be the first social media with a living, breathing, and growing social economy. A platform where writers/users alike are rewarded for sharing their views on various matters. A social media platform different from any other before it.

Two separate entities (Tron and Steem Blockchains) came into a strategic partnership with the sole aim of mutual growth and development of their respective blockchains. Thus, rewarding Steemit users of the Steem Blockchain with the TRX token of Tron Blockchain.

This collaboration not only allows Steemit users to earn more benefits by joining the TRON ecosystem but also provides TRON users with a platform for communicating their views as well in Steemit. This way it enriches and develops the ecosystems of both parties.

What is the ratio of TRX tokens on our payouts? Also, give the history of this ratio (how it changed time by time)

The integration occurred in multiple phases, with the first phase taking place on 14 February 2020, and the second on 15 October 2022.

In the Initial integration of the Tron and Steem blockchain in 2020, TRX rewards were distributed in direct ratio to the amount of Steem Power users earned on a post. This was calculated to be in a ratio of 1 TRX : 1 SP. That is, for every SP a user earned, the user gets a 1 Tron.

_{Screenshot from Steemitblog}

However, with the wild benefits of this integration, the distribution ratio was changed in the second phase. It was communicated to users by the Steemit team on the 13th of October 2022, that from October 15th, 2022, the TRX will be distributed in a ratio of 0.5 TRX : 1 SP. Meaning for every 1 SP a user earned, they get 0.5 TRX instead of the 1 Tron of the first phase.

_{Screenshot from Steemitblog}

This, therefore means, for those who have their curation rewards as 50% SBD : 50% SP would earn a ratio of 0.25 TRX whereas those with 100% SPcuration rewards will get to earn 0.5 TRX for every Steem earned.

What are the ways to claim and withdraw the TRX rewards from Steemit Wallet?

To be able to claim TRX like every other Steemit reward, a user would need to have a TRON account and Wallet linked to their Steemit account. This way, once you click the claim reward button under notification or in your Steemit Wallet after the seven-day duration of a post, as the Steem, SP, and SBD add up to your Steemit wallet so will the TRX be added to your Tron wallet attached to the Steemit wallet.

Users before the first phase of integration needed to open a Tron wallet account while new users after that already get a Tron wallet automatically created and attached to the Steemit wallet from the creation of the account.

HOW DO I WITHDRAW MY TRONS?

To withdraw TRX rewards from my Steemit wallet, all I need is to have a cryptocurrency exchange account/wallet. That way, I can withdraw either directly from the Steemit wallet or a TronLink wallet. Currently, I use Binance exchange as my cryptocurrency exchange plug when I want to withdraw my TRX rewards. The process is quite simple either by Steemit wallet or the TronLink wallet.

To withdraw, I go to Binance my Cryptocurrency exchange plug to copy the receiver's address by;

Step 1. Log in to my Binance app. Click on my wallet button at the bottom right corner.

Step 2. Click the Deposit button and ensure it is on crypto since the TRX to deposit is a Cryptocurrency.

Step 3. Search for TRX and click on the TRX I want to deposit.

Step 4. Choose the TRX network I am depositing which is the Tron (TRC20)

Step 5. On the next window, I copy the Receiving address then I go to Either my Steemit wallet or Tronlinked wallet.

TO WITHDRAW WITH MY STEEMIT WALLET;

Step 1. Log in to the Steemit wallet using my User name and Private active key.

Step 2. Click on the drop-down arrow to the right of my Trons and click on the transfer.

Step 3. On the following window, click on switch accounts from a Steam account to a Tron account.

Step 4. Paste the Receiving address I copied earlier from Binance and enter the number of Trons to transfer, then click next.

Step 5. Confirm my transaction on the confirm transfer page.

Step 6. Complete the transfer by providing the
TRON Private key and click Transfer.

TO WITHDRAW USING MY TRONLINK WALLET;

Step 1. Open the Tronlinked wallet. Then click the "Send" button at the top left corner under the account balance.

Step 2. Provide the Receiving address copied earlier from Binance. Enter the number of TRX to be transferred.

Step 3. Confirm my transaction on the confirm transfer page.

Step 4. Complete the transfer by providing my
TRON Private key and click Confirm.

Give a complete guideline on the best way to link an external wallet with the Steemit Wallet to claim TRX tokens

To do this, I think the best external wallet for the work is the TronLink which is even recommended by the Steemit team. So I would be taking you through the proceedings on how to do just that.

Step 1. Download the TronLink app or extension, via your Steemit wallet and click on Download TronLink walled it will take you to the Tronlink.org website from where you can download the required Android or iOS app or extension. In my case, I employ the use of the Android app.

Step 2. Install the TronLink wallet downloaded and Open the app after installation. On the welcome page, click on Import wallet.

Step 3. Swipe up to read all the terms and conditions of the usage of the app and click on "I agree to terms, don't ask me again".

Step 4. Copy your TRON Private key from the file downloaded containing all your keys when you opened your Steemit account and paste it into the dialogue box provided and click "Next Step".

Step 5. Create an account name and password for you to access the TronLink wallet. A password containing;

• Upper case letter
• Lower case letter
• Number, and
• At least 8 characters long.

Step 6. Re-enter the password you have chosen and click on "Import Private Key". And your account is imported.

Have you faced any problems regarding TRX rewards? Also, give your feedback on the benefits of this Integration

Yes, I encountered problems in the past with my TRX rewards, where my rewards were not being added to the wallet even after claiming my rewards, which I think every user experienced as the Steemit team updated us it was due to some technique discrepancy and the TRX issue was resolved a few weeks later of which I received all my hanging Tron rewards, thanks to the Steemit team.

On the benefits, indeed there are many benefits of Steemit and Tron integration. Of which are;

Firstly, Users are allowed to earn additional rewards in the form of TRX cryptocurrency. For people like me who are candidates of club100, it is the TRX I sell to get myself going, and sometimes I stake them as votes to SR (Super Representatives) to earn even more TRX.

Secondly, the integration as I said earlier allows users of both platforms to learn and exchange ideas on both platforms to boost the development of their Ecosystem. And this tends to improve the trust level of investors and retail traders and with more trust, comes more investors to the platforms and the platforms soar higher.

The third benefit of the integration is that it has helped increase the liquidity of both platforms as users of the Tron blockchain are now part of Steemit and Vice visa which increased the liquidity.

CONCLUSION

The Steem and TRX partnership is indeed a wonderful project, I may say a blessing in disguise to both Ecosystems. With it came numerous benefits to users of both Blockchains as it brought users to the steemit platform thus, boosting its liquidity which in turn provided Tron users with a venue to communicate their views.

THANK YOU FOR YOUR TIME

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I like to invite @badmus-official, @ruthjoe and @starrchris, and any other persons who would like to participate too to CLICK HERE for more instructions.

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Thank you all for always making out time to go through my work, and I only hope you enjoyed it😉😁. I can never say thank you enough. You are my real MVPs.

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