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According to Stellar, Ripple, Mt. Gox co-founder and e-Donkey Jed McCaleb, Tron is "just trash". McCaleb, who has moved away from Ripple to create Stellar due to personal differences with the mission of Ripple's board at the time, also believes that the crypto-market is going well. Finance that is "way out" even though it has had some turbulence during 2018.
McCaleb was asked by telephone what his takeaways were from the cryptic space "over the price". McCaleb said that the way capital is invested in cryptographic projects is "wild to look at". He added that with a reduction in market capitalization and token prices, things are beginning to smooth out.
One of the nice things that comes with the market is calming down – I still say it's not a bear market – means that there's less than that.
90% of these projects are B.S. I can not wait to change. Things like Tron are just trash. But people throw in tons of money, these things that simply do not work technically.
McCaleb has chosen an interesting project to hit, since Tron outperformed Ethereum in terms of development and use of smart contracts, something that very few people would have seen a year ago. Stellar has yet to offer an intelligent contract development platform in the Ethereum or Tron order. McCaleb offered no further justification as to why Tron is "just trash". Tron's founder, Justin Sun, said he wants to "save" developers from platforms like Ethereum and EOS.
Stellar "Poorly" marketed
Asked if people generally know what Stellar is, McCaleb said he did not think so.
I do not think they do it. We have done a rather mediocre marketing job and telling the world what Stellar is talking about. I think they have a vague idea that it is for payments, but I do not think they know the details and the true power of it. We hope to change it in 2019, but it is a process.
Research shows that many people have little understanding of Bitcoin or blockchain, not to mention Stellar. The majority has no interest in blockchain bank offers. In terms of options that people will choose to make peer-to-peer payments outside the standard US dollar options, the market is still very much in development.
End of year tribalism in Crypto
McCaleb joins the developer Bryce Weiner, the investor Tuur Demeester and the creator of Ethereum Vitalik Buterin in launching verbal grenades here at the end of 2018, a year in which Bitcoin greeted the worst possible investment choice.
Tribalism in cryptographic circles is obviously not new, of course. But subsequent competitors have lent their loyalty to the resources they believe will perform at their best. While Stellar remains a top-10 crypt by market capitalization, Ripple, which is extremely similar in design and functionality, has consistently outperformed the news of commercial partnerships and integration with banking systems around the world.
McCaleb and others from Ripple Labs developed Stellar when they felt the company's mission was moving away from their vision of a peer-to-peer payment system. He later faced a lawsuit for downloading his Ripple.
Stellar's blockchain facilitated 1,024 transactions on December 30thth, an average of 42 hours. Ripple facilitated 396,354. Comparatively, Tron processed 2,845,490 transactions during the same period, and Bitcoin made 267,463 – all according to Coinmetrics.io, which tracks this information.
At the same time, Stellar had dropped a whole penny from his 5-day maximum of nearly 13 cents at the time of writing.
Shutterstock foreground image. Image of Jed McCaleb from LinkedIn. Graph from TradingView.
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