According to controversial co-founder of Ripple (XRP), Stellar (XLM) and the failed Mt. Gox cryptocurrency exchange Jed McCaleb, Tron is “just garbage”. McCaleb rose to fame through both the Stellar and Ripple cryptocurrency projects.
He left the Ripple project despite being one of its co-founders after developing differences with the Ripple corporate board. He forked away and created Stellar’s XLM cryptocurrency which itself is now among the top eight cryptocurrencies in the world.
While McCaleb believes that cryptocurrencies are actually doing good in the market, he doesn’t hide his disliking for upcoming projects like Tron (TRX). He said:
“Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work”
While McCaleb gave no justification on why Tron is such a bad project as he claims, he also launched an attack on Ethereum (ETH) and believes people will lose their money while investing on platforms like Ethereum and EOS. When asked why Stellar has no programmable blockchain capability that is fuelling the growth of Ethereum, Tron and EOS, he refrained from giving an explanation as well.
McCaleb also outlined the shortcomings of his own project the Stellar. He said:
“I don’t think they do (understand what Stellar is). We’ve done a pretty poor job of marketing it and telling the world what Stellar is about. I think they have a vague notion that it’s for payments, but I don’t think they know the details and the real power of it. We’re hoping to change that in 2019, but it’s a process.”
McCaleb’s announcement is rarely taken seriously by the crypto community because it follows a pattern of tribalism in the sector with Ethereum co-founder Vitalik Buterin and other pioneers of the industry involved in verbal barbs from time to time to defend their own platforms.
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