TRON’s CTO calls it quits. Proclaims Tron to be “highly centralized.”


  • Chen alleges that TRON is highly centralized breaking pattern from its decentralized project.
  • Chen is currently working on his own project.

Lucien Chen, TRON’s co-founder, has recently left the company’s position of CTO alleging that the company is highly centralized breaking pattern from its decentralized project. Chen wrote in a Medium post: 

“The reason for leaving is very simple. As a technical man, I feel very sad that the TRON has departed from the faith of ‘decentralize the web’ ”. 

Addressing TRON’s divergence from the initial objective of creating a decentralized internet, Chen said,

”The DPOS mechanism of TRON is pseudo-decentralized. The top 27 SR nodes (block nodes) have more than 170 million TRX votes, and most of them are controlled by TRON. It’s hard for other latecomers to become the block nodes so they cannot participate in the process of block production.”

He asserts that more than 90 percent of the votes on TRON is controlled by only a handful of nodes with only a few voters.

Chen further said:

“The spirit of the blockchain is decentralized, while TRON project is centralized. Token distribution is centralized, Super Representatives are centralized, code development is centralized. Even the community is organized under centralization. No diverse voices in TRON ecosystem. The whole project has developed into a monetary tool without any ‘decentralize the web’ spirit.”

Chen is currently working on his own decentralized project called Volume Network which will follow the principles of blockchain and will focus on mining-based decentralization.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Opportunity in Bitcoin for bargain hunters

First, the strong bullish move yesterday by Bitcoin, which gained more than $1,000 in 60 minutes. The movement has placed the BTC/USD pair above all major moving averages and opens the door to further rises in the absence of relevant resistance.

More Bitcoin News

Ripple’s XRP recovery from April lows marks the beginning to breakout

Ripple has dived massively from the recent highs. The breakout above both the 50 Simple Moving Average (SMA) 1-D and the 100 SMA 1-D propelled XRP past critical hurdles. For the first in 2019, the price exchanged hands above $0.5. 

More Ripple News

Litecoin market overview: LTC/USD oversold and ready to bounce

Litecoin is showing signs of exhaustion from the downtrend experienced from the beginning of July. Recovery to June highs around $146 has been impossible with the path of least resistance having an affinity to the south.

More Litecoin News

Ethereum price analysis: ETH/USD hovers above $220; upside capped at $230

Ethereum momentum hit a snag at $230 following the impressive recovery witnessed yesterday from the support at $205. ETH/USD has spent most of this week’s trading sessions battling to shake off the selling pressure. 

More Ethereum News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP