Jed McCaleb from Stellar Lumens (XLM) Claims 90% of Cryptocurrency Projects are Pointless: TRON’s Justin Sun Responds
Jed McCaleb, the founder of Stellar Lumens (XLM) and also the co-founder of Ripple’s XRP, recently spoke on blockchain landscape for Yahoo Finance where he called Bitcoin, TRON and similar blockchain projects useless.
According to the programmer known by Mt.Gox, Ripple, and Stellar, 90% of cryptocurrency projects are useless, while McCaleb also stated in his New Year’s Eve interview that Tron is “garbage”.
Justin Sun, the founder of TRON, responded to McCaleb’s rough generalizing stating that TRON foundation doesn’t see Stellar as a competitor.
Jed McCaleb’s Opinion on Cryptocurrency Market Atmosphere Causes Sparks on Twitter
Jed McCaleb talked about cryptocurrency market and blockchain landscape in general for Yahoo Finance where he also stated that he doesn’t like the fact that every other company, firm and startup feels that it is necessary to build their own cryptocurrency, adding that they might as well use Stellar or Bitcoin.
“You don’t need a separate crypto to buy cannabis,” McCaleb added, probably referring to numerous cryptos focused only on the value and trading of legalized cannabis.
The founder of Stellar Lumens also added that a blockchain platform is failing if the network is not permissionless where the value of this network would lie in Distributed Ledger Technology and decentralization.
As McCaleb stated, in his opinion most of these projects are worthless, adding that he is looking forward to see how things are changing for such cryptocurrency projects in 2019, where the first man of Stellar XLM is convinced that there is no such currency that offers a solution to every problem.
Claiming that TRON is garbage, McCaleb added that people are still “dumping money” without being aware that the things offered by the foundation don’t technically work.
Justin Sun referred to the fact that TRX has more transactions in comparison to Stellar, thus renouncing Stellar Lumens as a competitor.
One of TRON’s supporters on Twitter shared the trading volumes for XLM and TRX on December 31st during the time of the initial interview for Yahoo Finance where the supporter tweeted that XLM had 8,793 Tx while TRX recorded 318 times higher transaction vo9lumes within the same timeframe.
Justin Sun Claims TRON Will Take Over Stellar’s Rank in 2019
Previously entering into a brawl with Vitalik Buterin, the founder of Ethereum, Justin Sun responded to Jed McCaleb’s New Year’s Eve “trash talk,” stating that Stellar has low transaction volumes, “has centralized and non-democratic system and 0 Dapps,” which is why Sun claims TRON will take over Stellar by market cap within 2019.
Justin Sun also shared another respond on January 1st, comparing BitTorrent to eDonkey, founded by Jed McCaleb where he emphasized that Stellar will go down just as eDonkey did back in 2002, adding that BitTorrent, on the other hand, has over billion users.
McCaleb also stated that most financial institutions are less likely to use Bitcoin, adding that the current atmosphere in the cryptocurrency market is mainly driven by hype.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]