The Context 163: ⚠️ TRON is not decentralized

Justin Sun claims TRON is decentralized.

Its website proclaims that it will “decentralize the web,” its whitepaper claims that it’s an “advanced decentralized blockchain platform,” and its FAQ page adds that “TRON is a decentralized blockchain platform.”

However, one person owns the majority of the TRX token, fundamentally destroying any claims of decentralization.

Justin Sun owns more TRX than everyone else combined, report

Despite the fact that Sun owns most of the TRX that exists, there are still quite a few crypto businesses that claim that it’s decentralized or report other false claims.

Binance, for example, makes the claim that “TRON is governed through a decentralized autonomous organization (DAO), allowing TRX token holders to participate in governance and network decisions.”

Unfortunately for Binance and its claims about caring about users, this isn’t true.

There’s no DAO that governs the TRON network.

The Context 160: 🔎 Trump and Justin Sun’s governance betrayals

Despite the fact that Sun owns most of the TRX, OKX is still willing to claim that “TRON is a significant player in the push for a more inclusive, decentralized digital economy.”

Bitget claims that TRON is “a peer-to-peer decentralized currency.”

Bitget also previously announced a “strategic collaboration with the TRON blockchain, including the acquisition of $10 million of TRX.”

The press release for this partnership also claimed that there exists a TRON DAO that “is a community-governed DAO.”

Since Bitget owns TRX, it financially benefits if TRX increases in value, which seems more likely if you maximize the decentralization and minimize the fact that one dude owns most of the token.

KuCoin claims that TRON functions “as a decentralized system” and that it “offers a decentralized alternative to centralized platforms.”

Sun-owned HTX describes TRX as “a decentralized blockchain-based operating system.”

Again, TRON is lying about its DAO, and the majority of its tokens are owned by one person, but each of these above entities is still willing to make the laughable claim that the system is decentralized.

— Bennett Tomlin