Justin Sun Doesn’t See Stellar (XLM) as Competition for TRON
Stellar’s (XLM) co-founder and CTO Jed McCaleb came out punching in a recent interview with Yahoo Finance, where he called into the question the actual utility of Bitcoin (BTC) and other major digital currencies.
“Things like TRON, it’s just garbage. But people dump tons of money into it, these things that just do not technically work,” McCaleb told Yahoo, adding that Stellar is (of course) the ideal platform for cross-border payments and tokenizing value of any type.
In a prompt response to the criticism, Justin Sun, the CEO of the TRON Foundation, took to Twitter to plainly state that he thinks so little of Stellar, that he doesn’t even see the project as a competitor to TRON (TRX).
“We don’t think Stellar is our competitor at all since they have extremely low transaction volume, [a] centralized and non-democratic system, and 0 dapps,” Sun said in his tweet.
As highlighted by Misha Lederman, on December 31, TRON’s network saw roughly 2.8 million transactions while Stellar’s only had 8,700, meaning that TRON processed 318x more transactions. As we previously reported, TRON also recently hit two major network milestones, including reaching over 100 million contract triggers and 1 million network accounts.
Sun also added that he believes TRON will take the place of Stellar in 2019, meaning that TRX will pass XLM in market cap. According to current market data, XLM holds a market cap of $2.22 billion while TRX is sitting at $1.32 billion.
Clearly, there is no love lost between the creators of the top altcoins and the stage is set an interesting 2019.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.