Justin Sun Is Retiring From Tron – But Not Crypto - CoinDesk
( December 17, 2021; CoinDesk )
The polarizing crypto entrepreneur said Friday he is leaving his brainchild Tron blockchain to TRON token holders. Sun said in an interview with CoinDesk that he is moving to focus on crypto legitimization in Latin American countries – after witnessing El Salvador’s success in making bitcoin legal tender.
For now, that means becoming an ambassador of the Grenada government to the World Trade Organization (WTO). Sun detailed his personal career plans in an open letter reviewed by CoinDesk. They include giving away at least some of his power on the Tron blockchain and promoting blockchain and crypto in countries like Grenada.
Read the rest from CoinDesk: Justin Sun Is Retiring From Tron – But Not Crypto
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Bad news for Steemit. It means TRX rewards will be discontinued as the Tron foundation will be dissolved.
Hmm... I hadn't thought of that. I always assumed that Steemit had traded a large number of STEEM - when they did the big powerdown last year - for the TRX that's funding that. You could be right, though.
TRX awards were covered by the Tron foundation. That's how I know. Maybe the Tron foundation has allocated enough TRX for us :)
It would be nice to understand if and how this would affect Steemit and Steem. I'm not sure I've ever been 100% clear if Steemit Inc. was sold to Justin Sun as an individual or one of the organizations he controlled.
Agreed. I have been under the impression that majority ownership of Steemit was sold to the Tron Foundation, but I'm not sure of that. So far, the market is down mildly on the TRX side, but it also doesn't seem to know how to react on the STEEM side.
I must say he is going to do a great job because crypto is not legal in many countries but future economic is depending on crypto. We should work for crypto legitimization over the world.
Nothing will change. He will still have sole power in the Tron. He himself said that sole power is a feature of Eastern culture, of which he is a representative. Justin became rich thanks to Tron. A hen that lays golden eggs is simply not given away.
More in an Open Letter from @justinsunsteemit on the @tronfoundation Medium blog: Justin Sun’s Open Letter to the Community on TRON’s decentralization and His Personal Journey
I assume 2021 should be 2022?
Justin Sun has often been accused of over-centralizing. I think it creates the appearance of Tron's decentralization to increase its attractiveness in the eyes of Western investors.
The legitimation of cryptocurrencies is essential since it transmits reliability regarding their use. Thanks for such good information.
I don't know why Justin Sun is leaving tron now while he should try to make tron stronger. But when the name is Sun, you must think that there is bigger plan behind this decision. I am awaiting to see somthing better from this guy. Best of luck.
Tron has a large holder. Hopefully the Justin Sun plan will succeed. Thanks for sharing this news
I hope it will not impact on Steemit platform but he should focus on crypto legitimization beside controlling Tron Blockchain. Wishing best of luck for him.
It is a surprise that Justin Sun has stepped aside at the tron foundation to be Grenada's ambassador to the WTO, and it is rare for a country to choose a foreigner to be its ambassador.
That he prepares us the new board of the Tron foundation later. Although Justin stated on twitter that he turned off all three of his supernodes and now he has 26-27 super reps who don't know who they are, and who made the transition from centralization to decentralization.
What awaits us in the future we do not know.