Tron founder Justin Sun has thrown a jab at Ethereum and EOS, announcing on Twitter that the company wishes to create a fund to “rescue” dApp developers working on both platforms on the condition that they move their dApps to the Tron network.
Driven by Sun’s penchant for successful self-promotion as well as the company’s successful acquisition strategy which saw it complete the takeover of BitTorrent in July, Tron claims that it has made significant progress toward its goal of building out the infrastructure for a thoroughly decentralised internet.
However, Sun was involved in a recent spot of controversy over his aggressive self-promotion after he hinted at a partnership with Chinese internet giant Baidu, only for it to emerge shortly thereafter that it was nothing more than a cloud computing services agreement. He also recently announced NBA legend Kobe Bryant as a speaker at Tron’s upcoming 2019 crypto conference.
The market, by and large, has rewarded Sun’s operational strategy, leading to Tron’s relatively favorable performance in an asset category suffering something of a meltdown. Ethereum and EOS, by comparison, are suffering significant losses, with EOS, in particular, performing poorly because of investor concerns over the longevity of its blockchain network.
In November, CCN.com reported that a research report by blockchain research and testing company Whiteblock stated that EOS is not really a blockchain network, but is, in fact, a “distributed homogenous database” suffering from significant security failings and lower-than-advertised network performance.
Ethereum is also suffering from the effects of the prolonged bear market, with co-founder Joseph Lubin recently announcing that his Ethereum development startup ConsenSys is kicking off a period of restructuring to eliminate underperforming projects and focus on projects that can create tangible value.
While no staff layoffs have been announced as part of the belt-tightening measures, it was revealed that henceforth all ConsenSys-backed projects would be ranked based on three criteria which, in order of importance, are: revenue or return on investment, positive impact on the Ethereum ecosystem, and social good.
It will be recalled that prior to current market conditions, Tron and Ethereum had historically been at loggerheads, with Sun having engaged in a public Twitter spat with Ethereum co-founder Vitalik Buterin over allegations that Tron plagiarised parts of its whitepaper from previous whitepapers by IPFS and Filecoin.
Featured Image from Shutterstock. Charts from TradingView.
Last modified: March 4, 2021 3:14 PM