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Blockchain Startup TRON To Create Fund To Rescue Developers

11:42 11/12/2018

Startup TRON is going to lure specialists from the Ethereum and EOS platforms to its blockchain. The project founder, Justin Sun, on Twitter announced building of a fund "to rescue" developers who suffered from losses on these two platforms.

 

According to CCN, the Ethereum and EOS blockchain networks have been experiencing significant financial losses lately. Investors reportedly doubt the reliability of EOS since a research by Whiteblock has shown problems in the platform’s security system and the network’s capacity is lower than claimed.

In turn, Ethereum suffers from a prolonged decline of the crypto market — the price of its cryptocurrency decreased more than twice during November-December 2018, to $93. That moved ether from the second to third place by capitalization in the CoinMarketCap rating.

 

Justin Sun promised to help specialists who suffered from the failure of Ethereum and EOS, but on condition that they transfer their decentralized applications and other projects to the TRON blockchain.

It is worth noting that the crypto enthusiast is known for eccentric methods of advertising — in October 2018, the developer announced a collaboration with the Chinese Internet giant Baidu. However, the company later announced that it was not a partnership — Sun just bought tools for developing blockchain products on the Baidu cloud services.

 

Also, a number of top managers left BitTorrent in protest in August 2018 — a month after Justin Sun’s acquisition of the company. Their dismissal is related to the discontent with the new BitTorrent owner as well as with the management appointed by him.

 

Earlier, TRON decided to support creators of blockchain games and announced the launch of an investment fund for $100 million, which will be distributed among developers.

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