The world’s full of classic business feuds: Coke v Pepsi, McDonalds v Burger King and Apple v Microsoft to name but three. And the cryptocurrency world is no exception with one of the biggest being between Tron and Ethereum which comes in the form of some very overt enmity between their respective figureheads Justin Sun and Vitalik Buterin. This battle of wits certainly doesn’t seem to be affecting the prices of either with investors continuing to buy Ethereum and TRX with enthusiasm and their values continuing to rise in response to this.
So why this bad blood between Sun and Buterin, which particularly comes from the former in the direction of the latter? And, more perplexingly, how come there are rumours that they may be laying the groundwork for working together.
Cynics might say that Sun takes this combative stance in order to get some headlines. Considering that Tron’s market cap is around 10% of Ethereum’s at $1.7 billion this is plausible that he wants to talk things up a little.
No stranger to catching the eye, he’s already caused more than a few ripples by promising to give away $20 million along with a Tesla car. As well as blatant marketing stunts of this kind he’s also had a fairly consistent line in what would be called “trash talking” in sport.
One of the more provocative things that he’s said recently, or rather tweeted, is that he plans to erect a monument to Ethereum when the TRX crypto currency overtakes it. As already mentioned, he still has quite a long way to go before he can start to think about commissioning this.
But, more perplexingly, soon after making this bold pronouncement rumours started to circulate that the two businesses could soon be looking at some kind of collaboration. This would make sense on a practical level as the two platforms were set up with very different objectives in mind. Tron has always had ambitions to be a way to share entertainment in a decentralised ecosystem. Ethereum’s purpose has always been far wider – to provide a platform for all kinds of blockchain-backed applications.
Sun has made no secret of the fact that he sees the future being very much wrapped up in the creation of a so-called stable coin. This will be tied more closely to fiat currencies than the current range of cryptocurrencies, and therefore more stable. It’s only though this that Sun believes that financial institutions will really begin to have faith in cryptocurrencies and let their use truly penetrate the payments industry.
He has also recently highlighted the fact that both Tron and Ethereum are heavily involved in the sphere of DApps while acknowledging that there could be some sense in collaboration. Talking to journalist Rachel Wolfson on her Cryptochick podcast, he also revealed that a collaboration had already taken place with some of the Ethereum developers of the Loom Network. He also explicitly stated that a more formal partnership may be formed in future.
So, it would seem that, where the interests of developing his business are concerned, Sun is happy to put his personal feud with Buterin to one side. But we’ll all have to wait and see whether this potential olive branch will ever be reciprocated or if things that have been said in the past will mean that too many bridges have been burnt already.