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As recently reported by CCN, the co-founder of Ripple and Stellar, Jed McCaleb, has interrupted a recent interview to denigrate Cryptocurrency TRON. Calling it "trash", McCaleb has apparently triggered a small storm of reactions on Twitter. This fire storm includes a reaction from TRON's active founder, Justin Sun:
BitTorrent: OG in P2P, 1B + users, bringing P2P to the mass market. eDonkey, founded by @JedMcCaleb: RIP 2002. I guess we're doing pretty well for "trash" 🤷🏻♂️ I'm predicting 2019 📣: #TRON vs @StellarOrg will have the same results as @BitTorrent vs eDonkey $ TRX #XLM https://t.co/HTu5p6Q8g9
– Justin Sun (@justinsuntron) January 1, 2019
Sun pointed out that his company is active in two areas where Jed McCaleb tried to work: file sharing and cryptocurrency. McCaleb created a first file sharing network called eDonkey2000 which, together with KaZaA / Limewire / BearShare and Napster, eventually sold to BitTorrent in terms of users.
TRON has acquired a crucial company for the development of the BitTorrent protocol in 2018 and is exploring the intersection of cryptocurrencies resistant to the censorship and distribution of decentralized files.
McCaleb is among the skeptics of smart contract and stablecoin. During the CCN covered interview, he said:
The allocation of capital and resources is insane to watch, when these zero-value projects get millions of dollars. It seems a great sin. We hope it will start to change. 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.
In many cases it must be just a sort of digital payment and you could also use Stellar or bitcoin. You do not need a separate type of payment for cannabis.
EOS Superpacing TRON
At the end of our article, CCN underlined that during the 24-hour period in which the article was written, Tron had conducted several Stellar transactions of several orders of magnitude, more than two million. A Twitter user pointed out to this reporter that EOS had done even more than TRON:
you forgot a little detail in your article #EOS 40Million transaction processed during the same period … pic.twitter.com/4LHN6wZ1d2
– leo perez (@ Bavaro11) January 1, 2019
In fact, according to CoinMetrics.io, EOS has processed 5,615,823 transactions on December 21st, about twice the amount of TRON. The volume of transactions is important for measuring the usefulness and scope of a given blockchain platform. No matter how sound the technology is, the lack of effective demand will lower the price of any token.
Twitter Reacts to Jed McCaleb
Besides Justin Sun himself, several people had words for Jed McCaleb. Some felt that he was only making sour grapes:
Jeb is pissed off because he left the largest team of digital resources to support the pure trash of inflation without anything happening. IBM is even thinking of abandoning Xlm. Ouch!
– Money Maker 24/7. (@CarsPerforming) January 1, 2019
Read also: The TRON Cryptocurrency development team grows from 2 to over 40
Some have wondered how Stellar manages to maintain its position among the top 10 cryptocurrencies (by market capitalization) with so little use:
How the hell still exist in the top 10 !! With only 8700 transactions a day !! Watch tron and learn from @justinsuntron sir. @StellarOrg #TRX #xlm
– Indranil (@ jimthomson94) 2 January 2019
Jed Feeling Threatened By Tron?
– John Hayman Crypto Agnostic (@ JohnHayman7) January 1, 2019
Some have predicted that TRON will surpass Stellar in the future:
I will make a lot of laughs when Tron overtook Stellar in the market.
– maestroiani (@the_stroia) January 1, 2019
At the time of writing this article, TRON was behind Stellar for only $ 22 million in terms of 24-hour volume, leaving this in the field of possibilities if the price increases by a few notches.
The question is created when the dApps that people actually want to use are developed. An alternative Telegram was recently created on the TRON blockchain called Converse. Currently it does not require any TRON to be used, but the enthusiasm and speed with which it was developed could foreshadow future dApps that will generate a higher demand for TRX.
Shutterstock foreground image. Justin Sun image from YouTube.
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