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TRON was founded and released in 2017 by Chinese entrepreneur Justin Sun. [1] The TRON Foundation raised US$70 million through an initial coin offering in 2017, circumventing the Chinese government’s subsequent ban on digital tokens. [2]
Since then, the agency has been hit with various accusations. Tron’s white paper was widely accused of plagiarism. [3] Researchers at the Digital Resources Research Institute (DAR) discovered that many parts of Tron’s code were copied from other projects. It was also accused of violating the GNU Lesser General Public License version 3 (LGPL), because the Tron project did not mention that its client, Java-Tron, was derived from EthereumJ (one of the early runtime libraries of Ethereum). These accusations have been denied by the Tron Foundation. [4]
In 2018, Tron migrated the core protocol from the Ethereum token to an independent peer-to-peer network. After that, it was positioned as a competitor of Ethereum, which also brought about the rapid growth of Tron's market value, and once became one of the 10 cryptocurrencies with the highest market value. On July 25, 2018, the Tron Foundation announced that it had completed the acquisition of Bittorrent (the world's largest peer-to-peer file sharing network). [5] After this acquisition, BitTorrent founder Bram Cohen publicly stated that he had left the company to create another cryptocurrency. [6]
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