According to a recent Medium post, Lucien Chen, the chief technology officer and co-founder of TRON (TRX), has left the project over fundamental concerns with its direction and an “irreconcilable contradiction” between Chen and TRON Foundation CEO Justin Sun.
In the post explaining his departure, Chen tore into TRON’s delegated proof of stake (DPoS) consensus algorithm, which he believes has made TRON overly-centralized. According to Chen, the 27 Super Representatives completely dominate the direction of the project, and, making matters worse, many of them are owned by TRON.
“In the DPoS and Super Representative node, there is a problem of centralized voting. Some nodes have more than 90% of the votes with only a few voters,” states Chen. “Therefore, the vote of ordinary retail investors has completely fallen. The total number of TRX in TRON is 100 billion, while the total number of votes for the super representatives is just less than 8 billion.”
Chen also revealed that he doesn’t see TRON as being able to integrate with the broader internet. He indicates that the current decentralized applications are limited to gambling and funding projects and that no real commercial adoption has occurred on the platform.
“The technology platform of TRON was built by me,” claims Chen. “I certainly know that the real Internet applications cannot function in TRON network at all currently. The TRON ecosystem is still far from commercial applications that users can really apply to. Bad money drives out good. Thus, dapp in TRON is basically the gambling and funding project.”
The Birth of a New TRON
As a result of his revelations, Chen has decided to launch his own blockchain project called Volume Network (or, perhaps Network Volume), which he has dubbed the “New TRON.” The new project will leverage a proof of space consensus mechanism, which he believes is far more decentralized than DPoS and more energy efficient than typical proof-of-work mining.
“I know that leaving TRON and rebuilding a new TRON is not for money as Justin did, but for returning to the origin of the blockchain project so that the decentralized community can participate in it deeply,” explains Chen. “Volume Network will reject all investment institutions and adopt such a low valuation. I hope this is a real community project. We take a total value of $1 million and a circulation market value of $30,000 to pilot the community, to feedback users, so that more users and developers can come to a consensus and participate in this project.”
Despite Chen’s departure, Sun recently took to Twitter to deliver some predictably bullish price predictions for both TRON and BitTorrent Token (BTT), which launched on TRON earlier this year. Additionally, recent photos of TRON’s marketing at Consensus 2019 suggest the project isn’t slowing down with its bold technical plans.
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.