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Tron Foundation on Lucien Chen: Chen was a technical leader, not a co-founder; was dismissed for fraud

Namrata Shukla

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Tron foundation's ex-employee Lucien Chen announced in a Medium post about his dismissal from Tron. Chen informed the community
Source: Pixabay

Tron foundation’s ex-employee Lucien Chen had earlier announced via a Medium post his dismissal from Tron. Chen informed the community that he was leaving due to several reasons, however, the main reason was that the network was not centralized anymore. The former employee wrote:

“As a technical man, I feel very sad that the TRON has departed from the faith of “decentralize the web”.”

Tron foundation has retaliated with a response on r/Tronix subreddit to clear the air about Lucien Chen and two other former employees of Tron who were dismissed on the basis of ‘ theft of trade secrets and intellectual property’ among other reasons. The foundation noted:

“According to the inspection department of TRON, former employees Z. Chen, J. Zhu, and X. Xie are suspected of misappropriation of funds, bribery, competitive infringement, and theft of trade secrets and intellectual property. Chen, Zhu, and Xie were dismissed in January, 2019 for violation of corporate policies and the law. Relevant documents and materials have been handed over to the judiciary. Z. Chen joined TRON in October, 2017 not as a co-founder but rather a technical leader.”

The details mentioned by Lucien and Tron foundation do not exactly tally. Chen who called himself the “CTO and a co-founder” of the Tron foundation was denied the title of a co-founder.

The Tron foundation, a few weeks back, took over the Tron subreddit claiming to provide the community with correct information and to prevent them from being “misled”.

This move was prompted by a certain GOC network’s desire to take over the subreddit. It was then made known that GOC was started by former Tron employees who were dismissed from the foundation on the basis of the similar reasons provided to dismiss Lucien Chen and others.

On r/Tronix, the foundation added a side note that read:

“The [internal] inspection department was most likely stepped up after/during the GOC incident which occurred at the same time.”

The Tron community, on this particular subreddit was wary of Tron taking over the sub, calling it a move towards ‘centralization’. After the announcement by the foundation on this sub, the community is not sure about the whole truth behind the matter.

Reddit user Classic_Patrick said:

“I appreciate the update from TF. However, if they were dismissed in January, wouldn’t that be part of keeping the community updated about something this significant? Even if they weren’t able to give details about the dismissal.”





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Bitcoin

Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry

Biraajmaan Tamuly

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Bitcoin's censorship resistance, freedom makes it a game changer in the economic industry
Source: Pixabay

Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.

In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.

The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.

Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.

The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.

At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.





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