Justin Sun, founder of the TRON Foundation, and Vitalik Buterin, co-founder of Ethereum, discussed on Twitter about Ethereum, Tron and the future of the cryptocurrency market.
In a tweet uploaded by Sun a few days ago, he mentions Vitalik Buterin saying that he admits that Ethereum (ETH) led the 2017 bull run built on hype. About TRON (TRX) said it will lead the next race built on the massive adoption of decentralized applications (dApps).
Vitalik Buterin expressed his point of view on the market during an interview with Smart Valor, recalled that in 2019 space needs more applications. Also, he said the next wave of virtual currency adoption will not be built on hype because the hype was already there.
Justin Sun immediately wrote a tweet and several individuals from the Ethereum community started a conversation with Justin Sun showing their ideas and their point of view.
Vitalik: the next wave of crypts will not be built on hype.@VitalikButerin he admits it #ETH drive the race to the bull of 2017 built on hype. #TRON will lead the next bull run built on massive adhesions and @BitTorrent . #TRX $ TRXhttps://t.co/svKJBWyQKq
– Justin Sun (@justinsuntron) 2 December 2018
When Sun wrote the tweet, he used the US dollar symbol and the Tron ticker symbol. Buterin commented on this by saying that those who put a dollar sign followed by a ticker symbol in their tweet may be self-identified as a shill and not worth listening to.
Another Twitter user, Brad Mills, said ETH did not lead the bull market in 2017. For him, Bitcoin (BTC) was the price leader during last year's bull run. He then referred to the fact that Ethereum allowed the mania of the initial supply of coins (ICO) at that time.
During the last months of 2017, several new initial offers of coins were launched to the market, raising millions of dollars a month. The ICO market continued to grow during the early months of 2018, reaching billions of dollars a month. In the last six months of the current year, the number of funds raised by ICOs is similar to that which ICOs were raising in May or June 2017, according to data provided by CoinSchedule.
Other users have said that TRON is not able to grow because it does not have massive adoption or the coverage level of the Ethereum community. In addition, the community seems to be in agreement with Vitalik Buterin stating that real-world applications will pave the way for virtual currencies. However, they are not convinced that Ethereum can do this work.
The Twitter user Jaycrypto said that there are hundreds of dApps on the Ethereum network, but no people are using them. He also talked about the scalability problems that Ethereum is facing by mentioning that the network is completely slower than others.
A few days ago, we wrote on BitcoinExchangeGuide that Tron and EOS are passing Ethereum in dApps and daily transaction volume.
On November 26th, Twitter user Kevin Rooke showed that EOS and TRON had more users and volumes of daily transactions on their dApps than Ethereum. This shows that there are some important applications in TRON and EOS that are more attractive to users than the Ethereum proposals.
It will be interesting to see what will happen in the future and how these networks will behave during a new race in the future.
At the time of writing this article, Ethereum is the third largest virtual currency on the market. A few weeks ago, Ethereum lost its position as a second virtual currency after being overtaken by XRP. ETH has a market capitalization of $ 11.79 billion and each ETH can be purchased for $ 113.87 according to CoinMarketCap. At the same time, TRON is the twelfth largest virtual currency. It has a market capitalization of $ 957 million and each TRX currency can be purchased for $ 0.014477.