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From Ripple Labs to Tron, The Story of Justin Sun

Justin Sun is a tech entrepreneur who has founded the cryptocurrency platform TRON and is famous these days for $4.6 million lunch with Warren Buffett.

There are several cryptocurrencies in regulation today, and unfortunately, only a few of them gain proper attention from the users and have a big space in the market place. One such cryptocurrency is TRON.

Tron is a blockchain-based platform for decentralization that helps to build a free, global digital content entertainment provider that has distributed storage technology and allows the ease of cost-efficient sharing of content.

Founded in the year 2017, TRON is a project that was founded by Justin Sun, and the organizing back end company for the project was a non-profit organization called Tron Foundation. The project has an in-house team for development. They even have their cryptocurrency called Tronix(TRX).

Image Credits: Google

Who is Justin Sun?

Justin Sun is a tech entrepreneur who has founded the cryptocurrency platform TRON, and before this, he launched a mobile social networking platform for China known as PEIWO.

Image Credits: Google

Sun did his Bachelors of Arts in History from Peking University. Then he did his Masters in Political Economy from the University of Pennslyvania in 2013. In 2018, he graduated from Hupan University, a business school where students are taught the skills and knowledge required to be a successful entrepreneur. A group of entrepreneurs and academics started the university, and it is led by Jack Ma, co-founder, and chairman of Alibaba Group.

Entering the tech world

Before Justin decided to launch his blockchain platform, he introduced a live streaming app that was aimed at the millennials of China. He created a networking platform called PEIWO that would connect like-minded people via a 10-second voice sample provided by users.

In the year 2013, Sun joined Ripple as their chief representative and advisor. This opportunity helped him to get the required exposure to the crypto market. This helped him gain the knowledge necessary to make his presence in the technological areas of the crypto world.

He worked with Ripple for 2 years and in the year 2017, TRON was founded by Sun. TRON is a part of a Singapore based foundation, Tron Foundation. TROINEX(TRX) is the currency that is offered by the TRON Foundation, and currently, it holds a market value of US $2.5 billion.

As the popularity of the crypto platform TRON grew, Sun decided to expand his reach, and he acquired the online files sharing provider, BitTorrent, and it’s products by closing a deal of $140 million. This acquisition showed how serious TRON is when it comes to decentralizing the whole internet.

At the age of 28, Justin Sun was featured in Forbes 30 under 30 twice, and it has made a tremendous impact on his life as well as helped in the popularity of his companies and their services. Justin considers Jack Ma as his mentor, and he has learned everything from him and with his guidance.

Sun also launched his podcast-style show named The Revolutionary Road to Financial Freedom in 2016, where he talked about his journey from a student to working with Ripple and mentioned his experiences with wealth management and industry insights.

Young, famous and somewhat troublesome

Once you become famous, anything you say or do is monitored very carefully, and one mistake can cause a lot of trouble for the person. But Justin learned this the hard way when he made a comparison of how TRON is the superior protocol to Ethereum. This lead to a tweet war between Justin and Vitalik Buterin, founder of Ethereum.

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Vitalik accused him of misrepresenting the data and capabilities of his platform. Again in September 2018, Vitalik remarked by pointing out how Sun is known to encourage unrealistic hype for cryptocurrency products.

One expensive lunch for sure

Over the years, Justin Sun has gained a lot of fame and name in the world of cryptocurrency as well as in the news, with millions of followers over the world. Justin recently made it to the news when he bagged the opportunity of having lunch with Warren Buffett, the head of Berkshire Hathway.

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On 31st May, Berkshire Hathway hosted a charity auction for GLIDE where the participants of the charity event had the opportunity to place a bid to have lunch with Warren Buffett, and the proceedings were donated to the Glide Foundation, a charity for homeless people.

Justin Sun won this opportunity by bidding a record-breaking amount of $4,567,888 to have lunch with Warren. Justin has also invited Charlie LEE of Litecoin, Changpeng Zhao of Binance, and Livio Wang of Huobi as the lunch guests. He thinks of this as the perfect opportunity to try and change Warren’s remarks and thoughts on bitcoin and other cryptocurrencies.

Warren has always been against the use of cryptocurrencies and considers them as a “gambling platform,” but Justin hopes to change his thoughts with this lunch in the presence of other cryptocurrencies platform owners. The lunch is on 25th July at Quince Restaurant, San Francisco, CA.

We’ll have to wait for the day to see if there is some breakthrough in the world of cryptocurrencies. If you liked the article, let us know in the comments section.