The online cryptomarkets have made a resurgence in the last month and a comment by TRON – also known as TRX – founder, Justin Sun, saw business venturers sit up and take notice! With news described as ‘huge and amazing’ for TRON and BitTorrent token, the world awaits more news in the month of June.
It is as a result of the driving force of Justin Sun that has seen the only crypto trading in TRON increase by 12% since this announcement. Over 1600 tweets from investors were received following on from this announcement on Twitter.
It was a vote of confidence in his tweet saying that all he needed was 70% to be successful and see the fruition of his decision.
This announcement led to a rise of $16 billion at the weekend in the online crypto trading and this was seen as of the highest trading days in 2019. Both TRON and BitTorrent dominated Bitcoin and other markets due to speculation based on the tweets of Justin Sun.
The recent resignation of the Chief Technology Officer and co-founder of TRON, Lucien Chen raised speculation that all was not well in the foundation with rumors of disagreements between the Founder Justin Sun and Chen based on guiding principles of the organization. The parting of Chen was far from cordial and the rumblings of concern were not only from within TRON but in the broader world of cryptocurrencies. Chen was also not in favor of the move to the centralization of the cryptocurrency.
Chen’s ideologies include code development, organization of the TRX community and the election of Super Representatives all of which he felt had been ignored within TRON.
In a comment on Medium, Chen spoke about the 27 Super Representatives in the Foundation, one of whom is the founder himself. He went on to say that he believes that these representatives hold too much power and play far too influential a role in determining the direction of TRON. The retail investors have little or no influence on where the foundation is heading despite the Super Representatives holding only 8 billion of TRX which grosses 100 billion – the retail investors holding the balance. Chen cited that some of the binary trees, more commonly known as nodes, have voting rights equating to 90% with only a handful of voters.
It was Chen’s vision for TRON to become a revolutionary platform but that this goal was not being achieved because of decisions made by the voters who hold only a small part of the investment.
Chen’s concern is that with the incomplete development and non-functionality of the internet and commercial applications that are user-friendly, the solid investments are being driven out in favor of the bad. The Decentralized Applications in TRON are funding the projects.
Notwithstanding the scandal surrounding the resignation of Chen, the superiority of TRON in both valuation and in the field of Decentralized Applications, has been evident with more than 102 000 users being registered on May 16 – the highest number ever for the foundation.