Poloniex will delist DigiByte upon DGB Founder’s revelation of TRON being 100% preminedDecember 5, 2019
DigiByte will be delisted by Poloniex recently after DGB founder brought to light bitter truth about Tron on twitter.
A solid war is brewing in the crypto space right now. Leading crypto expert Jared Tate recently took to Twitter to reveal some shocking revelations about TRON blockchain and coin. Enraged, Poloniex, the leading exchange backed by TRON founder Justin Sun, has announced to delist DigiByte from its platform.
Launched by Justin Sun, TRON is one of the largest blockchain systems today which advertises itself to be a “decentralized” platform. The blockchain has its own cryptocoin, namely, Tronix or TRX. Sun is one of the major patrons of Poloniex and it was with his support, the platform was able to rise its market share from 1 percent to 2 percent after its launch in October.
DigiByte is a rapidly growing, highly decentralized public blockchain founded by Jared Tate. At present, DigiByte represents the world’s fastest, longest and also most secured UTXO blockchain. DigiByte digital assets (DGB coin) can’t be destroyed, hacked or counterfeited which makes them some of the most reliable and secured digital assets. Ironically, the same Poloniex that has delisted DigiByte today, was the one to post that DigiByte is one of the “most secured POW blockchains”.
And it was all because of the DGB founder’s sincere attempts to reveal the bitter truth about Tron.
In one of his recent tweets, Tate brought to light the true picture of TRON by revealing that TRON is 100% premined. According to his successive tweets, 100 billion TRX was preissued by Sun and his TRON Foundation. At present, 66 billion TRX are in circulation. It only implies that Sun is still in the control of 34 billion $TRX post dumping $ millions on the investors.
As per the DigiByte founder, despite all the marketing hype, there is nothing much unique about Tron. In fact, their whitepaper too is mostly copied from somewhere else. For evidence, Tate has also posted Charlie Lee’s (Litecoin founder) criticism of Tron where the crypto expert has openly slammed Tron for their “copy-pasted” whitepaper.
“Of course, when you have got things 100% premined, you would obviously have the capital to pay reporters and market makers and exchanges to create hype and do the trade for you”, read one of the tweets posted by Tate.
The DGB founder further stressed that although TRON constantly champions its decentralized structure yet the platform is 100% centralized. As per Tate’s statements, Tron is governed by 27 “Super Representative” nodes that are under the control of Sun as well as Tron Foundation using DPoS.
In fact, Tron’s “excessively centralized” network is the chief reason why the platform’s former CTO Lucien Chen quit the network recently. Chen himself had noted that everything is thoroughly centralized in Tron -from token distribution to Super Representatives to code development and so on. A completely centralized infrastructure only points to the fact that Sun and his team does not allow a transparent operation and keep investors in dark.
It’s hard to swallow bitter truth. Poloniex have not been able to take Tate’s brutal revelations lightly and they gone on record to delist DGB. Their reaction has already spurred a flurry of angry tweets from sensible crypto enthusiasts. Some of them have directly questioned Poloniex that on what ground they have considered to delist such a highly potential platform like DGB. They have even highlighted the post where Poloniex itself had posted rave reviews about DGB.
Allaire’s decision to delist DGB from Poloniex only shows poor business ethics on part of the famous crypto personnel and his company. It has been proved by Tate that Tron has not been really clean about its platform. In fact, the way Jared wrote was a fact and he didn’t had to argue much given strong support from the Twitter community. It would have been better had Allaire kept his ego and vested interests aside and acknowledged the truth. The best course of action for him here is to read more about the actual market situation and re-consider his decision about DGB.
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