- The people behind the POP Network reported that their crowdsale tokens have disappeared from the Tron network.
- The project is currently trying to find a solution. However, they report that it has been impossible to get a response from the Tron support team.
When the Ethereum Foundation stopped funding several projects, the CEO of TRON saw an opportunity to take advantage of the situation. He made a number of offers for the most important projects that left the Ethereum network (ETH). One of these projects was the POP Network. POP, however, as it writes, has seen it collapse due to the effects of TRON’s centralization.
Tron “censors” POP’s token in crowdsale
Valerian Bennett, CEO of the POP Network Foundation spoke about the events in a Medium publication. The company behind the POP Network issued a token called BTTX in February this year. This marked the beginning of their campaign to raise capital for the development on the Tron Network. After almost a month, however, the tokens disappeared.
Bennet’s efforts to contact the technical support of the Tron Foundation were in vain. So the company decided to issue a second token by creating a new smart contract. The token was called BITX. However, issuing the token caused further complications.
Although the issue of the token was initially successful, however, BitTorrent sued the company behind POP, whereupon the BITX token disappeared from the TRON network and Tronscan stopped supporting the BITX token. According to Bennett, the main reason for Tron’s actions are:
Tron Foundation would single out our project as competition to BitTorrent Token (BTT) and go on to erase our presence from the Tron blockchain.
POP Network set out to create an extension of the BitTorrent protocol and called the project “bittorrentx”. The potential was enormous, according to Bennett, the extension could create alternatives for YouTube, Netflix and Spotify with a “cryptoinvisible UX”. The extension allows streaming from one device to another and users can earn cryptocurrency by putting content on the Internet.
These features made the POP project attractive and would certainly have become a competition for the Tron Foundation’s product. Bennett argues that if Tron were a decentralized network, there would be no possibility of the POP Network being censored.
Not the first time TRON is accused
This is not the first time that Tron has been criticized for its centralization. In May 2019, Lucie Chen, co-founder of the Tron (TRX) protocol, left the project. Chen claimed that Tron had become an extremely centralized project, contrary to the principles on which Tron was founded. At that time, Chen made a statement that is consistent with the current case:
Token distribution is centralized, Super Representatives are centralized, code development is centralized. Even the community is organized under centralization.
POP Network met this reality up close. The startup tried to establish conversations on an executive level with Tron, but according to Bennett:
We were ghosted.
Another reason why TRON is centralized by experts is the cooperation with Binance. Recently, the exchange Binance froze 18% of Tron’s total supply, about 12 billion dollars. This made the exchange Tron’s largest Super Representative. As a result, Binance now has the opportunity to cast 59% of the votes required for the election of the TRX network Super Representatives. Of course, the crypto community criticized Binance’s move.
The price of Tron was $0.013 at the time of publication and has risen by 2.05% in the last 24 hours.