Tron’s Justin Sun says Ethereum will Shut Down Due to lack of Funding and Adoption of dApps
Justin Sun Founder and CEO of Tron has once again bashed Ethereum on Twitter. After news about Consensys laying off as much as 60% of its employees came about, Sun was quick to offer the employees of Consensys jobs at Tron.
Sun went a step further on Twitter and said that due to a lack of funding and decreased dApp adoption Ethereum will eventually shut down.
Justin Sun Tweeted:
Ethereum and @ConsenSys are slowly imploding. The 60% layoff and 90% price drop is just the beginning. That’s what happens when u can’t keep up with DApps & no funding! Developers leaving & project shutdown will be next. Don’t go down with the ship! #TRON #ETH @VitalikButerin
— Justin Sun (@justinsuntron) December 23, 2018
This is not the first time that Sun has taken on Twitter to attack Ethereum. Ethereum has been vulnerable to criticism due to its sharp drop in price and a lack of dApp adoption whereas Tron after its Mainnet launch has been gaining traction.
The Tron ecosystem has over 50 dApps and has surpassed 100 Million transactions on the network. According to data from Tronscan.org the network is close to reaching a Million accounts.
Temporary price fluctuations and rhetorics do not matter as much as one might think in the long term, fundamentals matter when it comes to developers who will only choose the best possible platform. Before coming to any conclusion, we at Blockmanity try to observe from every perspective.
Let us examine both sides of the story:
For Tron: Projects like Tron have been able to provide better transaction throughput and scalability that Ethereum is yet to achieve. Through a different consensus mechanism, Tron has been able to support over 2000 TPS surpassing Ethereum.
The dApp ecosystem in the Tron network has been able to get good traction even in the bearish market. dApps like Shrimp Farm have managed to get over 15,000 daily active users surpassing the previous high of TronBet of 2000 DAU.
Justin Sun acquired BitTorrent in May this year which gave a major boost to the Tron ecosystem. The outspoken founder wants to introduce a token ecosystem in BitTorrent to enable a new system of file sharing across the internet. Sun has also promised to introduce privacy features like Zero-knowledge proofs into the Tron Blockchain.
For Ethereum: Even though Tron has been gaining traction lately, one must not forget that the Tron whitepaper had plagiarised elements from the Ethereum whitepaper. There has been a lot of hype built around the project through marketing efforts but is nowhere in comparison to Ethereum in its Blockchain ecosystem.
The price of Ethereum went way ahead of its network value mainly driven by the ICO mania in 2017. But the developer ecosystem around Ethereum is in a bull market. The drop in the price has not stopped new developers from entering the space and learning about the Ethereum Blockchain.
Even though projects like Tron and EOS have a lot of money to fund the developers, it is not possible to buy the best developers with just money. Ultimately the developers will choose the best platform which they see as sustainable in the long term.
Tron might be able to attract dApps in the short term due to better scalability, but with scaling solutions like Plasma and Sharing in Ethereum 2.0 it will be difficult for other Blockchains to catch up. Ethereum has built substantial network effects and developer documentation and ecosystem around it which will be hard for other Blockchains to clone in a short period of time.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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