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7 days left for the Tron Virtual Machine [TVM] launch; the countdown begins

Priya

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7 days left for the Tron Virtual Machine [TVM] launch; the countdown begins
Source: Unsplash

Ever since Justin Sun, the Founder and CEO of Tron Foundation, announced Tron’s MainNet and Virtual Machine launch, the whole community has riled up. The foundation has consistently launched all their projects in the promised timeframe and all have so far been successful.

First, the Tron Foundation launched the TestNet on 31st March 2018 and the MainNet on 31st May 2018. The launch led to a huge buzz in the market as they were both successful. After which, the Beta version of the Tron Virtual Machine was launched on 30th July 2018. The launch of the TVM is scheduled for 30th August 2018.

According to Justin Sun, the Tron Virtual Machine will be compatible with the Ethereum Virtual Machine. This would enable the Ethereum Virtual Machine developers to go onboard with the Tron platform for ‘almost free’. Moreover, the virtual machine is going to provide the developers with a secure, efficient, stable, scalable, and convenient blockchain system.

In addition, the theory of Bandwidth is going to be applied to the Tron Virtual Machine. There is no fee imposed on the transaction operations or smart contracts. During the launch of the beta version, the CTO of Tron Foundation, Lucein announced that the Tron dApp ecosystem is going to be divided into 3 parts – Development tools, Engine Tools, and third-party tools.

The development tools are similar to Ethereum’s development tools, which include TronWeb, TronLink, TronTruffle and Tron Remix. According to the CTO, these development tools are the pre-requisites for all the developers in order to develop an entire dApp.

Along with the tools, the Foundation will also be providing the developers with 20 different game templates. The Tron Foundation will be offering the templates so that the developers can refer to them while creating their dApp.

The main aim of the foundation is to stand apart from Ethereum by enabling the developers to create more sizeable games. This also includes expanding the Tron’s ecosystem.



Tron dApps engine tools include CoCos2d, unity3d, laya, egret, and SDK. The 3rd party tool is Loom Network which is similar to Ethereum’s Loom Network. Tron’s Loom Network is set to provide the developers with a more convenient process to develop projects. The additional features include TronScan and TronGanache.

Along with the launch of the Virtual Machine, Justin Sun is also going to shed more light on Project Atlas. The project is in collaboration with BitTorrent. Furthermore, the CEO of Tron Foundation recently revealed that there are more announcements which are going to be announced in Q4.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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