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Justin Sun sheds light on the Tron [TRX] Virtual Machine – launches the beta version

Priya

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Justin Sun sheds light on the Tron Virtual Machine - launches the beta version
Source: Unsplash


On 30th July, during the ‘Blockchain the Global Ecosystem’ Livestream, Justin Sun, the Founder of Tron Foundation, spoke about the Tron Virtual Machine and gave an update on the current projects.

The Tron Virtual Machine [TVM] has been launched, and in the following months, it will be tested by all the Tron community members. On 30th August, Tron Foundation will complete the launch of the official version of TVM and also complete the MainNet upgrade.

The Tron Virtual Machine is completely compatible with Ethereum but is faster and more affordable. The beta version is going to be more stable, more secure and equipped with optimized compile and instruction set. The ecosystem including the development tools and the developing team will eventually bring about a more efficient and user-friendly virtual machine with higher performance.

Tron will provide a sandbox for its global community to test the virtual machine and find bugs. Based on the feedback, Tron would initiate a voting campaign among the Super Representatives while adjusting the beta version. After this, all the Super Representatives will upgrade the program of the Tron Virtual Machine into a new version.

The Tron MainNet has been running smoothly and the block height has reached 1,005,756 with over 74,112 addresses. The peak number of single day transactions is 49,518 and the global nodes at present are 362.

There are more than 40 exchanges which have completed the migration from ERC20 tokens to Tron TRX without any financial loss incurred by the users. This includes top exchanges such as Binance, Bittrex, Bitfinex, Upbit, Huobi and OKEx.

Moreover, the foundation has burned over 92,424,664,154 ERC20 tokens, i.e, more than 92% of the total tokens before the completion of the migration. The remaining tokens will still be valid on exchanges like Binance and Gate.io.

Justin Sun said that the launch of TRX contracts on BitMEX and the new credit card option for TRX purchase on Changelly means that the market potential of TRX is being ‘further acknowledged’. The support of Ledger and Freewallet would provide a better user experience to the TX holders. He further spoke about Tron’s collaboration with Pornhub and said that it will provide a ‘more extensive application scenario’ for the Tron technologies.

The Founder of Tron Foundation also spoke about Tron’s acquisition of BitTorrent, a leading P2P player in the industry. He said that BitTorrent provides the top-notch downloading services for more than 1 billion users across 168 countries. The acquisition would enable Tron and BitTorrent to become the largest decentralization ecosystem in the world.





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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.

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