Tron's (TRX) Network is Not Suitable for Launching BitTorrent's New Token, Former Employee Claims

  • Former chief strategy officer (CSO) at BitTorrent says Tron network cannot handle launching new BitTorrent token (BTT).
  • Tron's founder Justin Sun and his developers are only skilled at marketing, not technical aspects of project development, former BitTorrent CSO claims.

Simon Morris, the former chief strategy officer (CSO) at BitTorrent, Inc, recently revealed that he doesn’t think the Tron (TRX) network will be able to handle BitTorrent’s high rate of transactions.

BitTorrent's Token Will Likely Not Be Launched On Tron's Platform

Notably, Morris’ comments have come less than two weeks after the Tron Foundation announced it would be launching the BitTorrent Token (BTT) on Binance Launchpad, the official token launch platform developed by Malta-based digital asset exchange, Binance. In an interview with BreakerMag (on January 11), Morris stated that the BitTorrent network would likely use a different platform to issue its new tokens.

Commenting on how he believes BitTorrent will introduce its native crypto tokens, Morris remarked: 

I suspect that what they’re really going to do is they’ll do it on some central server, they’ll wave their hands and say, ‘Oh, it’s a Lightning Network for TRON,’ or something, and pretend it’s TRON-based, but it’s not really TRON-based.

Launching BitTorrent Token On Tron Will "Literally Destroy" TRX Network

Morris, an early-stage project advisor for various companies working on decentralized technology, said that BitTorrent’s new tokens would have to be launched on a platform that can process hundreds of transactions per second (TPS). According to Morris, Tron’s founder Justin Sun and Tron’s development team have lied about the controversial cryptocurrency network’s ability to process transactions quickly. Morris believes that if BitTorrent actually used the Tron blockchain, the peer-to-peer (P2P) file sharing network would “literally destroy it.”

In January 2018, Tron’s developers had been accused of publishing a plagiarized whitepaper (archived here) as several people had noticed that many sections of the technical paper looked identical to Filecoin’s and IFPS’ (InterPlanetary File System) documentation.

On January 7th, 2018, Juan Benet, the CEO and founder at Protocol Labs, a US-based organization focused on the development of IFPS and Filecoin, noted (via Twitter):

Wow! Absurd! TRON's "paper" is mostly copied from other projects, or is super basic p2p passed off as original. Zero references.

Tokenizing BitTorrent Will Improve Efficiency

Morris claims he had asked Tron’s founder Justin Sun to address the accusations (about plagiarism) by publicly acknowledging what had happened while also promising that Tron’s developers would focus on “sincerely building things.” However, Sun reportedly chose to ignore the situation by stating: “We have come to consensus that this did not happen. And we have moved on.”

Morris further noted that tokenizing BitTorrent would help improve the overall efficiency of the P2P file sharing platform, however Tron’s network might not be suitable for launching the BitTorrent token. Morris, who left BitTorrent in July 2018, also mentioned that Sun and his company’s employees were quite skilled at sales and marketing. But Tron’s team, including Sun, was not aware of the technical requirements for developing and issuing BitTorrent’s own cryptocurrency on the Tron platform. Morris remarked:

[Tron is] basically a marketing machine layered on a very thin veneer of technology.

Poloniex Delists Digibyte (DGB) Hours After Founder Criticizes TRON

DigiByte (DGB), a cryptocurrency whose founder is well-known for criticizing projects like TRON and Binance, has been delisted from Poloniex shortly after a Twitter thread on TRON’s centralization.

On social media, Poloniex announced the delisting “after careful review” as the cryptocurrency supposedly isn’t “qualified” per its listing standard. The announcement came mere hours after DigiByte’s founder Jared Tate published a thread accusing TRON of centralization and criticizing the investment of Justin Sun – TRON’s founder – on Poloniex.

In his Twitter thread, Jared Tate claimed TRON is a “100% premined & completely centralized network” and that Poloniex, shortly after spinning out of Circle and becoming an “independent international company” backed by a “major Asian investment group” has turned into a “TRX shill factory.”

Notably, TRON’s Justin Sun has admitted he was at least “one of the investors” who backed Poloniex,  and the cryptocurrency exchange has been caught promoting TRON’s TRX. In a now-deleted tweet, Poloniex tweeted out “let’s buy TRON.”

Tate further claimed TRX is centrally controlled and alleged Sun still controls 34 billion TRX out of the 100 million preissued tokens. He added his motivation for the Twitter thread was being “royally pissed” his personal data, and that of his friends and family, is now in the hands of “this circus that is now Poloniex.”

Tate is notably well-known for criticizing Binance as well, as according to him DGB won community polls to be listed on Binance when the exchange was launched, but was never listed because it refused to pay a listing fee.

At press time, DigiByte’s price is down by over 5% against bitcoin, presumably over the delisting announcement from Poloniex. CryptoCompare data shows only about 9% of DGB’s trading volume is on Poloniex.

Featured image via Pixabay.