Tron (TRX) Joins The Elite As It Launches Tron Virtual Machine (TVM)
The Tron (TRX) network has officially launched the Tron Virtual Machine (TVM).
Tron (TRX) is arguably one of the most ambitious cryptocurrency projects in the blockchain industry at the moment. The rate at which this platform has grown over the last one or so years illustrates its ambition.
The TRX community has, on its part, been the most optimistic as they look to a day the crypto hits the heights its founder Justin Sun has talked of so often.
Well, that time could be here already. The cryptocurrency marks yet another milestone in a short period of six months. After launching its mainnet in May, Tron followed it up with a successful migration from the Ethereum network.
Days later, it elected its 27 Super Representatives, marking the beginning of a path towards full decentralization. The crypto has even stated that it was doing way better than both Ethereum and Bitcoin when it comes to decentralization.
Tron Virtual Machine (TVM)
Tron’s founder and CEO, Justin Sun, has always been at the forefront of his platform’s key achievements. And that trend is not about to end, given he just announced the Tron Virtual Machine (TVM) in a live stream and on Twitter.
Make sure to tune in for #TVM Live streaming today at 6:30 PM San Francisco time 🌎 2:30 AM in London 🌍 9:30 AM in Singapore (August 30) 🌏 We will talk about our Virtual Machine, Project Atlas, and other exciting projects we are working on! https://t.co/q553J2pHjW $TRX #TRON
TRON wants to be the biggest blockchain project, a fact made public via numerous sentiments from its CEO. The TVM is an important milestone for the Tron network, participants, and investors.
Today saw Sun make yet another announcement and one that rightly has the whole community excited. According to Sun, the launch of Tron’s Virtual Machine puts the crypto right into a new chapter in the dApps ecosystem.
#TRON Virtual Machine(#TVM) Official Launch: New Chapter for DApp Ecosystem. #TRX https://t.co/O9wBKkcats
The launch of the TVM marks a big step towards achieving some of its goals and it would not be surprising to see the platform top most other digital platforms with similar objectives.
The TVM boasts some impressive features that could elevate it as a preferred platform for developers. The Virtual Machine is also completely compatible with the Ethereum network.
From the official press release:
“TRON has also designed a distinctive resource management model The entire TVM system uses bandwidth and energy to represent aggregate system resources. The underlying concept of memory, cpu, etc. is shielded, improving accessibility of the system and reducing the learning cost for DApp development. “
You cannot blame the Tron Foundation and investors for feeling a bit superior to other platforms at the moment. What the TVM does is to give the platform a massive boost in its efforts to improve network efficiency as well as take care of that monster called scalability.
The platform already boasts single-day transactions that peaked at over 416k, increasing by 741 percent since July. The platform, which acquired BitTorrent earlier this year, has managed to attract a lot of attention from both investors and companies seeking to build on its platform.
The number of dApps built on the TRON network has increased tremendously over the last two months. There is no doubt a big number of other projects will come to the platform now that the TVM functionality is live.
Tron is experiencing massive interest as shown by the increased number of network accounts since its Mainnet launch on May 31. That number now stands at over 282k as of July, which represents an increase of about 1,400% in new accounts compared to last year.
These growth figures illustrate one major point for TRON: its potential for growth is there. However, the big question will always remain- whether developments could see the TRX coin improve in its price against the US dollar.
That has not happened with previous news and developments, although it may only be a matter of time. Till then, the Tron Virtual Machine just ushered in a new period for more growth.