Since its introduction, the digital currency space now has seen the emergence of good, the bad as well as the ugly. There’re several cryptos in the market currently with more still flowing into the crypto space. That scenario has created high competition that most crypto projects find it hard to survive.
The only thing that keeps a crypto project going is its relevance in the crypto space. For that reason, now we can see strong projects and those struggling to be stable. That’s why we have the top 10 cryptos in the space with Tron (TRX) being among the top 10 every now and then.
But does Tron deserve to take a spot in the top 10 cryptos? Dominik Schiener, Co-founder of IOTA, believes Tron is just a copycat and doesn’t deserve it at all. Perhaps, he should have his reasons, right? Well, he has a reason (everyone gives their own reason for everything).
Tron (TRX) is a Copycat
In an interview with BeInCypto (a cryptocurrency news publication) at Paris Blockchain Week Summit, Dominik Schiener co-founder of IOTA-the sole digital currency built for transactions between machines, called out on Tron as a copycat.
Specifically, Schiener was responding to question on the overall crypto industry, the cryptos currently ranked among the top 10 and the one he thinks that does not deserve to belong there.
According to Schiener, Tron doesn’t have any concrete business value they add other than pumping the price. To him, the industry had lost focus in 2017 on why distributed ledgers are being created. He continued to say that Tron is all about the money raised and not solving significant problems as well as delivering value.
So, is IOTA the Best Bet?
IOTA (MIOTA) is not based on blockchain technology, but instead, the tech behind it is Tangle. Also, the project is created on the DAG (Directed Acyclic Graph) system. It is majorly focused on the Internet of Things (IoT), and the platform is highly scalable as well as can be used for free.
Schiener stated that unlike Tron, IOTA is focused on developing a core protocol as well as an ecosystem on top of it, instead of pumping their price. Precisely, he noted that IOTA is focused on value and utilization proposition of the token itself.
In fact, he states that it will be very disappointing if IOTA doesn’t break into the top 10 cryptos by 2020 given the value they have created.
What’s the Future of IOTA?
Schiener is confident that IOTA has significantly matured despite the much criticism of its centralized aspect. However, he says that they need the coordinator (which guides the network to figure out the valid transactions) as they started as a proof-of-concept. However, they are now working to remove the coordinator.
Whether IOTA succeeds in removing the coordinator this year only time can tell. Perhaps, some will be asking about the more value that exists in the IOTA project than Tron.
Nevertheless, the big question is whether IOTA will indeed surpass Tron in the ranks this year on CoinMarketCap. Until then, Tron is ahead in the ranks than IOTA at least for now. And for the copycat thing, our article here tells why Sun-led blockchain is different.
Image courtesy of Pixabay.
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.