Dr. Craig S. Wright likes to stir the crypto waters. He’s claimed to be none other than Satoshi Nakamoto. He recently attacked Ripple’s technology and token (XRP) (despite the fact that it’s one of the blockchain projects with the best technology, use case, and fundamentals, it’s second by market capitalization as we write this). He also played a crucial role (a bad one in our eyes) in Bitcoin Cash recent fork that saw the project split into two different networks and tokens. This is a man who likes to create controversy for sure, and his latest attack is against Tron.
He used his Twitter account to go against Tron. Here’s his tweet:
https://twitter.com/ProfFaustus/status/1088086434576302081
Not very subtle, indeed. But should we pay attention to this diatribe anymore than we’ve had in the past (just for the record, we don’t take Mr. Wright very seriously, and we doubt very much that he’s Satoshi)?
In this article, we’ll briefly review Tron’s fundamentals so you can decide on your own if it’s indeed such a bad project as Mr. Wright says. So let’s start.
Tron is a very young project. It’s been around for about a year and a half only, and it’s accomplished many notable achievements already. It’s a third generation blockchain which means it’s not all about a currency but also about a programmable platform that supports the development and deployment of decentralized applications and smart contracts.
It was founded by Justin Sun (who is the Tron Foundation’s CEO), who was already quite famous as a technology entrepreneur in China and as a protegé of Jack Ma’s (yup, that Jack Ma, the man behind Alibaba). His credibility in the Asian tech world is beyond any doubts and he’s invested his fame into Tron’s PR and marketing.
The project started running over Ethereum’s network. Then it went its own way on last May by launching its own main net thus becoming independent from Ethereum’s network, the blockchain, and token technology.
As it became autonomous, the new network’s technical specifications were spectacular. Transfer speeds were very high, and the cost of running new apps in the new network was negligible when compared with Ethereum’s high gas cost. It became apparent very quickly that Tron would give Ethereum a run for its money and the phrase “Ethereum killer” became a common reference to Tron in cryptosphere analysis.
Tron has a definite purpose: to use blockchain technology to decentralize the web. This is a very ambitious goal, but we’ve seen harder things happen in digital technology’s history. The aim is nothing short of revolutionary.
Imagine a world wide web in which the information doesn’t flow through the central authorities we’re used to (Google, Yahoo, Facebook, Microsoft, etc.) but in which every content creator can interact directly with his user base without being subject to, say, Youtube’s monetization rules. That’s what Tron is all about, and it’s not as far away from happening as you could think.
Tron bought BitTorrent a few months ago. That is the world’s largest decentralized network in terms of users and traffic. All kinds of content are available in BitTorrent, and it’s about to become a blockchain network. It will run on Tron’s blockchain, to be specific, and that will make Tron the world’s biggest blockchain network. Yes, it will surpass even Bitcoin.
BitTorrent users will be rewarded for seeding their files with a Tron-based token called BTT so sharing your files on BitTorrent will earn you passive income just by allowing your computer to be on.
Tron has a very enthusiastic community that is very bullish on the project’s coin, called Tronix (TRX). The wallet is very easy to use (it’s a chrome extension, in fact), and it has very clear use cases.
Tron is a solid project with very strong fundamentals. Over the last few weeks, it’s gone from 11th place by market capitalization to 8th. And this has happened in a very hostile market that’s seen most other cryptocurrencies shrink in value.
We don’t agree with Mr. Wright. We don’t believe Tron supporters are “dumber than dirt” as he says. We consider Tron to be a project with vision and it holds a lot of promise. But you should make your own mind up. Do you agree with Craig Wright? Do you also think he’s Satoshi?
Image courtesy of Pixabay.
