Buterin: Most Altcoins are Poor Value for Money
April 22, 2018
Ethereum’s co-founder Vitalik Buterin has given an unflattering remark on the blockchain project Tron and claimed it to be one of the “projects that never had a soul.”
While addressing to Financial Times Buterin commented on popularity of ERC20 tokens based on the Ethereum’s blockchain:
“There’s projects that never had a soul, that are just like, ra-ra, price go up. Lambo, vrromm, buybuybuy now!”
Having subject the China-based platform Tron to harsh criticism, Buterin mentioned the token’s market cap (used to be about 17 bln dollars in January) as an example how its evaluation may be “far ahead of what this space has actually accomplished for the world.”
Tron has been criticized by many as it raised huge investments without actual product released while its test net was announced only early this month.
Today the token’s market cap is relatively lower – just 3.3 bln dollars.
Buterin’s statement expresses views of various crypto investors who keep on treating altcoins with suspicion.