Tuesday, March 26, 2019

Tron CEO Ready to Save ETH and EOS Developers from Platform Crash

Tron’s CEO, Justin Sun has stated in a tweet that his company will create a fund to save ETH and EOS developers from the folding of their platforms. The strange statement was made with the condition that Eth and EOS developers move their decentralized apps from the ETH and EOS networks respectively, to the Tron network.

A Twitter user, who was clearly annoyed about the state of the crypto market, remarked that all they would be doing would be jumping from a sinking ship to another sinking ship, and sarcastically added, ‘Shit. I’m in. When jump, sir?’

A response was made to Justin Sun by EOS New York, an EOS network block producer stating on the tweet;

“We think we will be just fine given the billion dollars in VC funding for #EOS and #EOSIO projects that is locked and loaded around the world at Galaxy, SVK Crypto, Tomorrow, etc. Appreciate the offer, though. Best of luck, Justin.”

There were other responses to the tweet by Justin Sun which expressed emotions ranging from the agreement, mockery and thoughtful comments stating that the cryptocurrency industry needed to be united. One of the commentators even said that there was now a decentralized app war after the recent Bitcoin Cash hard fork war.

Past Comments on ETH and EOS

The CEO has in the past, hit on his competition in the cryptocurrency industry on social media. In October, he made claims that Tron network’s latest version, Odyssey 3.1 could beat Ethereum’s network in terms of speed and EOS’s network in terms of cost. Ethereum has an estimated transaction rate per second of 25. TRON was recorded to have handled 1,200 transactions per second in the middle of the year, and the company behind TRON promised users to increase its transaction rates to 10,000 per second. His statement saw the TRON token experience a gain in value by eight percent.

All three mentioned cryptocurrencies in Justin’s tweet have all experienced a significant dip in market capitalization with TRON, the 10th ranked crypto in terms of market capitalization, according to CoinMarketCap was down 44% for the month, trading currently at $0.013. Ethereum is ranked number 3 on CoinMarketCap just below Ripple (XRP). Following several positive news about the token in the traditional banking industry, XRP shot above Eth in value. Ethereum is down 59% for the month, trading at $85. EOS is down by 69% for the month and is trading at $1.71.

During the middle of last month, TRON launched a $1 million accelerator program to support developers designing decentralized apps on TRON’s network. Early November, Bancor announced that it had added support for EOS within its dApp for cross-blockchain token swaps. It facilitates that conversion between the ETH and EOS based tokens without the need for an exchange.

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