Justin Sun has been busy in the background while Tron has slowly been inching ever closer to competing with EOS in the dapp sphere. The CEO of the Tron Foundation has announced via his Twitter account (as usual) that Tronix, the native cryptocurrency of the Tron network has been listed on yet another exchange.
— Justin Sun (@justinsuntron) May 27, 2019
While the exchange in question is not a giant player, it is still is another step in Tron’s steady march to dapp dominance in the marketplace. The trading will begin with two trade pairs, namely TRX/USDT and TRX/BTC. Bitcoin is the highest traded cryptocurrency on the exchange with the VeThor/Bitcoin trade pair delivering the vast majority of trades in the last week according to CoinMarketCap. The second largest volume was achieved by the Bitcoin and USDT trade pair, which is a natural fallback for many traders when the market hits high volatility.
Mega news and Tron’s ex-CTO
This news has cushioned the blow of the Tron Foundation losing its Chief Technology Officer under controversial circumstances earlier this month. Lucien Chen, who has been with the project since its very early days, left the foundation after disagreements with the direction of the network.
In a Medium post, which is deleted now, he complained that Tron was going too far with centralization and that this was a worry that he simply could not ignore. How is Tron becoming more centralized, when the entire community is allowed a vote?
The answer is in the so-called Super-Representatives. They form a voting bloc that has most of the power and can unduly influence the direction of the network without needing to pay too much attention to what retail investors in the system think.
Chen simply thinks that these Super Representatives hold too much power. Amid his exit from the Foundation, the former Tron CTO said,
“In the DPoS and Super Representative node, there is a problem of centralized voting. Some nodes have more than 90% of the votes with only a few voters. Therefore, the vote of ordinary retail investors has completely fallen.”
Justin Sun hit out at his former executive employee, saying that as the founder of the Tron Ecosystem, he is qualified at the very best to make decisions regarding the future of the network. He also went on to say that due to the relatively low commercial viability of dapps (though growing), it is necessary for the leadership of projects to take a much more active role in shaping their networks.
Many in the industry think that the time will come when a change needs to be made. That time, they speculate, could be when Tron reaches critical mass and this might be coming sooner rather than later. Recently, Justin Sun teased in a tweet that the first of June will bring big news on the BitTorrent front. This could potentially lead to Tron becoming the industry gold standard for dapps as they onboard millions of new users in a short amount of time.
Once this happens, industry experts say, the calls for decentralization will lead to conflict within the organization. And the matter will need to be settled once and for all. However, the current mood has returned to optimism at its best as Tron (TRX) has jumped more than 11% over the last 24 hours as we write this post.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.