Poloniex vs. DigiByte: a delisting due to centralisation?
Poloniex vs. DigiByte: a delisting due to centralisation?
Crypto

Poloniex vs. DigiByte: a delisting due to centralisation?

By Alfredo de Candia - 5 Dec 2019

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Tweet attacks are taking place between the Poloniex exchange and the founder of DigiByte, which would have led to the highly arbitrary decision to delist the DGB crypto from the exchange.

 

But let’s start with order. 

DigiByte (DGB) founder Jared Tate yesterday published a series of tweets in which he wrote, giving some evidence that Tron’s blockchain is highly centralized and as a result had also harshly attacked the Poloniex exchange calling it a “shill factory”.

 

Jared Tate also pointed out how the Tron (TRX), which have a supply of 100 billion already mined, 34 billion are in possession of Justin Sun: almost a third of the circulating tokens are then in the hands of the CEO, making the blockchain centralized.

As if that wasn’t enough, Jared Tate also brought into play Litecoin’s creator (LTC) Charlie Lee, who had previously pointed out that Tron’s whitepaper was a copy and paste of other projects, specifically IPFSbot and MineFilecoin, proving once again that the foundations of the blockchain are held up with glue.

DigiByte also pointed out that Binance holds 56% of the voting power of the Tron Foundation and this could also allow a coalition of them to control 25 of the 27 Super Representatives of the Tron blockchain.

So, after these tweets, Poloniex decided to delist DigiByte, despite most of the comments mocking Poloniex for how the exchange makes decisions on listing and delisting. In fact, Poloniex in the tweet does not explain why he decided to delist the token, but most likely it’s only for Tade’s tweets.

In short, if Poloniex decided to delist DigiByte for the content of the posts published, surely the exchange shows the correctness of the same, confirming how centralized the entire system is.

Following the news, the value of the crypto has lost about 3%.

The omnipotence of centralized exchanges will be short-lived as more and more DEXs (decentralized exchanges) are developing, which do not hold user funds and cannot decide who and when to list a token.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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