Jed McCaleb, the co-founder Stellar, Ripple, Mt. Gox, and e-Donkey calls Tron “just garbage” in a conversation with Yahoo Finance. He also asserts that crypto market is doing well and despite the turbulence experienced in 2018, it’s “way way up” from here.
McCaleb shifted from Ripple over personal differences with the mission of Ripple’s corporate board at the time to evolve Stellar. Talking to Yahoo! Finance over the phone, he elaborated that crypto space is “beyond the price,” the way that capital is invested in crypto projects is “wild to watch.” He added that a reduction in market capitalizations and token prices is an indication of things beginning to smooth out.
One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that. Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.
Tron and its very vocal founder Justin Sun has often trashed other cryptocurrencies, boasting his own token as the best of the lot. So much so that he offered developers rescue from platforms like Ethereum and EOS. It seems that this time around, they are at the wrong end of the knife. Interestingly, McCaleb did not offer any justification as to why Tron is “just garbage.”
In recent time, Tron has managed to outperform Ethereum in terms of actual smart contract development and usage, while Stellar has yet to offer a smart contract development platform.
In response to, if people correctly understand Stellar, McCaleb asserts that they have misread the token
I don’t think they do. We’ve done a pretty poor job of marketing it and telling the world what Stellar is about. I think they have a vague notion that it’s for payments, but I don’t think they know the details and the real power of it. We’re hoping to change that in 2019, but it’s a process.
While not just limited to Stellar, this curse being unrecognized and not being understood looms over every cryptocurrency and blockchain venture. Which result in majority having no interest in the ecosystem. While things are steadily changing, it is believed that people would eventually opt for making peer-to-peer payments outside of standard US Dollar options, the market is still very much in developmental stages.
Read more: Tron’s Justin Sun Asks Ethereum’s Vitalik Buterin For Help In Reviewing Tron white paper