TRX Price Explodes While Tron’s Justin Sun Implodes on CNBC; BTT Token Will Be ‘Hybrid’
Tron (TRX) CEO and founder Justin Sun was recently interviewed by CNBC Africa where he received a flurry of tough questions relating to Tron’s launch of the BitTorrent Token (BTT).
Sun appeared to give mixed messages during the interview with Ran Neu-Ner, while also seemingly confirming that BTT would not be completely Tron-based.
Tron and BitTorrent
Neu-Ner began by questioning the wisdom of taking a free service and turning it into a paid service, to which Sun answered:
“First of all, it’s an opt-out solution. Anybody who doesn’t want to use this function, they can disable it and they can still use BitTorrent very well. The second thing is, we actually accelerate the speed of the downloading [for those who do want to use it].”
When asked if BTT would be running on the Tron blockchain as a DApp (a hot topic in recent weeks), Sun’s answer was unequivocal:
“Definitely! I think right now Bittorrent is one of the largest applications in the Tron network. Also the official token of the BitTorrent protocol called BTT is a TRC10 token, running on the Tron platform.”
But when Neu-Ner probed further, and brought up the recent criticism by former BitTorrent chief Simon Morris that Tron would literally melt if it tried to run the BTT token, Sun replied:
“We are actually using a hybrid solution, trying to guarantee on speed, but also the decentralization… so we can guarantee both for our users.”
Centralized or Not?
This is where things get interesting, because it’s starting to sound like one of Morris’s predictions may be coming true – namely Sun would eventually implement a centralized solution while continuing to push the idea that it was Tron-based.
Neu-Ner didn’t stop pushing, and asked for details on this new ‘hybrid’ solution. Sun said:
“A small amount of the transactions will be put on a payment channel level. They do the [muffled/unintelligible] at once, and then they are uploaded onto the blockchain. So on one side, we can put all the burdens on a sidechain, and on the other side, they can guarantee the results on the mainchain.”
Is it just me or did Sun contradict himself within the span of thirty seconds? ‘Definitely Tron-based’ sounds a lot different from ‘hybrid payment channel’. Also, has anyone ever heard of Tron utilizing sidechains before? Or is Sun simply using the word sidechain to mean anything outside the mainchain? Is he doing this on purpose? Or does he really not know any better?
Remarkably, most of the social-media reaction to Ran’s interview was overwhelmingly positive – perhaps because the TRX coin price was on its way up at the time.
Tron Price – TRX/USD
TRX jumped 15% in value from Saturday through to Sunday, rising from a coin price of $0.026633 up to $0.030687.
That’s the first time TRX has broken through the three cent barrier since January 10th, when it eventually climbed all the way to $0.034. That surge required a $1 billion daily trade volume, and while current volume stands at $419 million, that a 132% increase from the previous day’s $180 million.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.