Tron’s Opportunity

By February 20, 2020Tron | TRX
Tron SR opportunity

Tron just had something happen to it that can define its future. At the time it happened, the community went on social media to question the actions taken. Let’s just say that the actions were perceived as bad and in contradiction to what a decentralized blockchain represents. But sometimes, these bad things have to happen in order for success to ensue.

There are times in life that huge opportunities come about when bad things happen. A company implements a software patch after a bug is detected. A roofer wears his harness after having a close call. The list can go on and on. Well, what if the company didn’t do anything about the bug and just ignored it or if the roofer neglected to follow the safety practice? The company can go under and the roofer can lose his life. Will you trust a company that is not proactive on mitigating such risks? Would you hire a roofer who can become a legal liability? You shouldn’t.
In the world of crypto, the same applies. And here is where Tron has the opportunity to act. They can make changes so that it never happens again, thus improving the network, or look the other way and wait for the repercussions to take place.

 

Tron’s Moment

What happened on the morning of February 19th EST was that 3 new entities became SRs out of nowhere. Not a big deal. But what raised concern was that 2 of these SRs, TronBet and TronAce, were voted in by TRX in the Zion Wallet. The Zion wallet was the original wallet that got the 99 billion TRX when the genesis block was created on mainnet launch. This means that they belong to Tron. Here is the tweet posted by our friend Dave at Tron Society:

 

Justin’s Candid Answer

This response was pretty well accepted by the community as it showed that Justin Sun acknowledged the issue at hand and took action to force some bad actors to upgrade. He presented this as a short term fix as this is in the best interest of the Tron network. He went on to add a few other responses to our comments to further establish a course of action going forward. This showed leadership and maturity.

 

Community Reactions

Why a Solution is Needed

So 2 SRs just wanted to collect their TRX and not have to upgrade even if it hurts the Tron network. Okay, so forcing them to drop out by outvoting them may have done the trick this time around. But what if they had 500 million votes? There are only 3 SRs that have more than 500 million votes. Will Tron outvote all remaining 23 SRs to get this bad actor to take action? That doesn’t make sense. Nor should something like that happen in a decentralized system. Yes, I know there is another elephant in the room when it comes to decentralization but I have beat that poor elephant many times and it doesn’t seem to want to move. So I’ll let it sit there until another time when a stronger push can take place.

 

Make It or Break It

This is where we are at. We are at a point where long term solutions need to be implemented on the network so that bad actors do not take advantage of any vulnerabilities. If there is a flaw, it will be exploited. Especially as the price of TRX goes up. What if Binance, the #1 SR with 12 billion votes, has a disagreement with Justin Sun. Will we be down to 26 SRs and not be able to do anything? These are things that need to be addressed beforehand. This is where Tron can step up and do what is needed to ensure the long term prosperity of the network. As a TRX believer and investor, I hope Tron realizes this and works with the SRs to solve some of the concerns that have been raised. For one, we need standards and processes drafted to address these issues. We cannot have big brother come to the rescue and do whatever he sees fit. That tends to become a PR fiasco. And let’s be honest, Tron’s main issue is not its technology. Its technology is kicking butt. The main issue for Tron is the bad reputation it has gotten over the last few years. Some of it is just haters being haters, but some of it is well warranted. That needs to change. I do give props to Justin Sun for the way he has matured over the last several months. The community has noticed how you have better handled certain events, such as the Warren lunch.

The Community SR Impact

All the things we have discussed over the last few years is a result of community SRs representing and assisting the Tron community. I can assure you that community SRs are all eager to help you in any way they can. And if there is a question we do not know the answer to, I am sure we know someone who does. Think about what would happen if community SRs were all voted out? I think you know the answer. Thank you in advance for voting for your favorite community driven Super Representative. With your help, we will be able to keep a healthy balance to the Tron ecosystem.

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George Rodriguez

Bachelor of Science in Electrical Engineering with 16 years experience in a Fortune 500 company. Ten years of which were in a real-time operations leadership role. An early investor in TRX and an avid blockchain enthusiast. Currently, handling Tronspark digital operations and residing in Miami, Florida.