Today we’re going to be exploring ’‘Jed McCaleb, the co-founder of Stellar and Ripple and how he called the TRON Network “Garbage.”
Just yesterday we reported on the TRON Network and how it was performing very well in the market. TRON had hit their major milestones — They had over 1 million users, over 100 million contract triggers, and 10,000 to 40,000 new sign-ups every day.
Despite the positive news, Jed McCaleb, the co-founder of Stellar, Ripple, Mt Gox, and e-Donkey mentioned in an interview with Yahoo! Finance that the TRON network is “just garbage.”
McCaleb who is currently working on Stellar (a hard fork from Ripple due to differences with the mission and direction of Ripple’s team) believes that ninety per cent of cryptocurrency projects are just garbage and are BS. He is looking forward to changing this in the cryptocurrency industry and cites TRON as one of these projects that people dump tons of money into but don’t technically work.
As someone who has been in the cryptocurrency industry since 2009, McCaleb believes that the industry has grown much faster and more than he originally anticipated. While many people cite that 2018 has been a bearish year for the cryptocurrency industry, McCaleb believes that on the whole, it’s way, way up. He Acknowledged that while the price isn’t a large concern for business at Stellar when people are more interested in cryptocurrencies, the industry does have more cash to invest in existing and new projects.
McCaleb has been quite surprised to see where all of the industry’s capital and resources are going. He noted that it’s a big shame to see projects, (like TRON) with zero technical merits receive millions of dollars. While many are disappointed that the market is slowing down, McCaleb believes that it’s a good and healthy sign. Instead of seeing this as the decline in growth, he sees the change as the market calming down and reaching greater maturity over time.
McCaleb noted that hype has unfortunately created a lot of BS blockchain projects. Instead of having so many different blockchain networks, he believes that in a lot of cases it just need to be some sort of digital payment system where one can use Stellar or Bitcoin. He noted that it’s unnecessary to use a separate type of payment for something like Cannabis.
While McCaleb is seen as a crypto pioneer, some of the members in the cryptocurrency community have gone to Reddit to voice their opinions. Reddit user Tranceology3 noted that out of all the coins I’ve used, Tron is the one that technically works the most. This comment has been supported by another user Billiu1 who mentioned that TRON has provided a great user experience.
Redditor LongDong699 even pointed out that individuals should go against predictions made from public figures and personalities. He mentioned that “they do not know their ass from a hole in the wall. Never take advice from someone who has no skin in the game, or who is the competition. Jed claims that Tron is garbage? This actually means that Tron is gold. Think about it.. If Tron was a flat tepid project, that wasn’t making any waves, would Jed McCaleb, or anyone else for this matter make comments? I think not.
The Redditor added that when “when incumbents are threatened they begin to throw shade and take shots. A hallmark sign of progress is when you are constantly talked about. A hallmark sign of failure is when you are never talked about.”
What are your thoughts on this situation guys?
Do you think that McCaleb is right in calling the TRON Network Garbage?
Or do you think McCaleb’s comments are a sign that the TRON network is currently performing well?
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.