TRON CEO Says He Will ‘Rescue’ ETH and EOS Developers From Alleged ‘Collapse’ of Their Platforms

Published at: Dec. 7, 2018

Decentralized internet protocol TRON CEO Justin Sun has said the company will build a fund to “rescue” Ethereum (ETH) and EOS developers from “the collapse” of their platforms, in a tweet, Dec. 6.

Sun made his offer with the precondition that the developers “migrate” their decentralized applications (dApps) to the Tron Foundation network. In the heat of the blistering crypto market crash, one aggrieved commentator immediately quipped, “So… we jump from sinking ship to another sinking ship?  Sh**, I’m in. When jump, sir?”

EOS New York, purportedly the twitter account for one of the EOS network block producers, responded directly:

“We think we will be just fine given the billion dollars in VC funding for #EOS and #EOSIO projects that is locked and loaded around the world at Galaxy, SVK Crypto, Tomorrow, etc. Appreciate the offer, though. Best of luck, Justin.”

Other responses spanned the gamut of affirmation, ridicule, or tempered calls for unity in the industry. One user — referring to the divisions over the recent Bitcoin Cash (BCH) hard fork — apprehensively said, it “looks like after the #hashwar we now have a #dapp war.”

This is not the first time Justin Sun has weighed in on his competitors in the industry on social media; in early October, the CEO claimed the Tron network’s latest version, Odyssey 3.1, could beat Ethereum on speed and EOS on cost. Sun’s claims at the time prompted a surge of eight percent in the TRX token’s value.

In recent weeks, TRX — as ETH and EOS — has shed significant value amid volatile markets; the token, ranked 10th largest crypto on CoinMarketCap, is down 4.5 percent on the day, and 44 percent on the month, to trade at $0.013 at press time.

ETH, ranked 3rd, is meanwhile down 14.5 percent on the day and 59 percent on its monthly chart, currently trading at $85. EOS, trading at $1.71 at press time, is down 21.2 percent on the day, 69 percent on the month.

In mid-November, TRON launched a $1 million accelerator program to support developers building DApps and products on the TRON protocol.

In early November, decentralized liquidity network Bancor announced it had added support for EOS within its dApp for cross-blockchain token swaps. The dApp, BancorX, allows users to convert between the ETH- and EOS- based tokens without exchanges, in a bid to bridge infrastructures and bring greater interoperability to the industry.

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