Lucien Chen, CTO and co-founder of the Tron decentralized applications platform, announced his retirement from the project. At the same time, he accused the head of Tron, Justin San, that the current project does not offer any real decentralization, and stated his intention to revive his original vision.
The new Chen project is called the Volume Network and will use the PoST algorithm (proof of space and time). Mining will be carried out with the help of users' hard drives, which, as Lucien Chen says, will “achieve true decentralization”.
The current Tron consensus algorithm he calls the "pseudo-decentralized mechanism."
“I am very sad to see that the project, which grew with me, turned into what we have today. I decided to start a new project – the Volume Network (VOL), ”wrote Lucien Chen.
He also added that the current Tron project was completely created by him, and as a person who knows the whole story from the inside, Chen says that “real” applications based on it cannot function.
According to him, the Volume Network will not conduct a private placement of its tokens. Initially, to ensure liquidity in the market, 3% of tokens will be put into circulation, and the remaining 97% will be available for mining. With an aggregate capitalization of $ 1 million, the initial VOL offer will be $ 30,000.
Earlier, the founder of the TRON Foundation, Justin Sun, boasted that he was “the first public person in the cryptocurrency industry with a million subscribers” on Twitter.
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