The tale between two of the most important stalwarts in the cryptocurrency industry has veered from foes to friends. Justin Sun, the CEO of the Tron Foundation, and Vitalik Buterin, the co-founder of Ethereum have, seem to have buried the hatchet for now and are on course to construct a mutually beneficial partnership.
In a recent podcast with The Crypto Chick, Sun spoke about a range of topics from the USDT integration to the competitors Tron faces in the industry. Sun acknowledged the DApps competition with Ethereum and added that “competition produces better products”.
The Ethereum and Tron collaboration should be seen as something that is beneficial for the larger DAapp developer community rather than a to-and-fro rat-race between the networks. In the spirit of “true love” and “brotherhood”, he stated:
“I think in the future we will even collaborate with lots of Ethereum developers and also the enterprises built on Ethereum before to make the industry better.”
Sun spoke about the recent collaboration with Loom Network, a layer 2 scaling solution for Ethereum. In light of April Fools Day, the Loom Network joked about the launch of Loom Records debuting their maiden Justin Sun album titled “Enter the Sun”.
The Loom collaboration now seems to be a precursor as Sun dropped a major hint of an ‘official collaboration’ with Ethereum in 2019 itself. He added that this would “do something good for the industry.” Given the slew of developments coming out of the cryptocurrency industry, Sun remained “optimistic” for the year.
Justin Sun further shed light on the layer 2 scaling solution, titled the Sun Network, which would be released in the second quarter of 2019. He stated that the solution would increase transaction speeds by 100 times and the fees would also see a further decline.
Rivalries are a rampant occurrence in the cryptocurrency space, but the Buterin-Sun clash has attracted a lot of eyes because of the severity of their respective networks. The intricacies of their cross-jibes revolve less around name calling and more on network performances, a rarity in the cryptocurrency industry.
In April 2018, Sun published an infographic via Twitter, comparing the Tron and Ethereum networks. The graphic delved into TPS, Transaction Fees, Coin Burn, Language Support and Extensibility, lauding the Tron network. Buterin replied, in a concise manner, adding a point to the comparison stating that Tron’s network is a copy of the Ethereum whitepaper which Buterin penned himself.
However, at times, their insults veered away from TPS and more towards the number of followers. Earlier this year, Sun stated that he boasts Twitter followers on par with his Ethereum peer, despite commencing operations six years before the top altcoin.
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HitBTC responds to allegations of insolvency, refutes claims made by Redditors
HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.
To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.
Referring to the BitcoinExchangeGuide article, HitBTC responded:
“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”
Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.
@ProofofResearch replied to HitBTC’s blog:
“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”
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