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Blockchain pioneer Jed McCaleb did not really choose words when asked what the cryptocurrency market was. In an interview with Yahoo! Finance, McCaleb called Tron and 90% of the other "only junk" blockchain projects.
McCaleb, the co-founder of Stellar, Ripple and the now defunct Monte Gox, believes that the annual withdrawal of cryptocurrency prices is ultimately a good thing.
Referring to the 2017 ICO boom, McCaleb said:
"One of the good things that comes with the market is calming down – I still say it's not a bear market – it means that there is less, 90% of these projects are BS I do not see the time to change Things like Tron are just rubbish, but people throw in tons of money, these things that simply do not work technically. "
Tron and its founder Justin Sun have often trashed other cryptocurrencies, boasting their token as the best of the lot. So much so that it offered developers the rescue from platforms like Ethereum and EOS. McCaleb, however, offered no justification as to why Tron is "just trash".
In recent times, Tron has managed to outperform Ethereum in terms of the development and effective use of smart contracts, while Stellar has not yet offered an intelligent contract development platform.
In response to, if people correctly understand Stellar, McCaleb claims he misunderstood the token.
He said:
"I do not think they do that, we've done a pretty mediocre marketing job and telling the world what Stellar is talking about, I think they have a vague idea that it's for payments, but I do not think they know the details and the real power of it. We hope to change it in 2019, but it's a process. "
In November 2018, Stellar collaborated with Crypto Wallet Provider and Blockchain explorer Service Blockchain.com to launch a $ 125 million XLM award for blockchain wallet account holders. To receive $ 25 in XLM, blockchain wallet users had to submit identity verification documents. This was a requirement for the giveaway because Stellar and Blockchain.com wanted to prevent users from creating duplicate accounts with the intent of requesting XLM awards more than once.
XLM listed on OKCoin
As expected, the XLM token rose 20% in September 2018 after the announcement that the OKCoin digital currency exchange would quote the native cryptocurrency of the stellar network. Another notable development for Stellar was the acquisition of Chain, Inc. (the developer of a cloud blockchain financial infrastructure) by Lightyear Corporation (a "commercial entity" supported by the Stellar Foundation) on 10 September.
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.
However, he also provided a counter-proposal to the idea that greater cash flow is a good thing for space. During the last year's bull market, the hype cycle has reached levels of exuberance that have blinded investors, causing many to buy in bad ICOs and fill their project portfolios with a product running low or nothing in the hope of huge gains .
McCaleb hopes that "they will start to change" with the "calming" market. It also calls for millions of dollars projects with "zero technical merit" and "great shame".
Andy Bromberg, the founder of Coinlist, a law enforcement token sales management platform, said that the next step for Crypto was to understand "how we can turn this technology into products from use".
He said:
"Bitcoin and the hundreds of other digital currencies that have popped up over the years are still largely usable only by developers."
However, analysts believe that new institutional investors could enter the space when Bakkt will be launched by the Intercontinental Exchange (ICE), the operator of the New York Stock Exchange (NYSE).
Stellar's blockchain facilitated 1,024 transactions on December 30, an average of 42 at the time. 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.
