Tron is one of the cryptocurrency projects in the industry have had a successful 2018; development wise. Gone are the days when people blamed the project of not having a product. Following the testnet launch in March, the network has defined the path it is taking especially as the provider of decentralized internet infrastructure. Tron has not experienced a shortage of achievements since March; the TRON mainnet went live at the end of May while the Super Representative (SR) election kicked off in June. The token migration conducted by most of the exchanges was a great success as well.
Furthermore, last month, Tron Foundation announced the release of Tron Virtual Machine (TVM). Tron later in the same month of July completed the acquisition of BitTorrent; a leading provider of decentralized services. And with this, Tron has become the largest decentralized network in world boasting of over 100 million active users.
The Tron Virtual Machine (TVM), according to a press release sent to media platforms in the cryptocurrency space will be officially launched on August 30. The release will come with a package of smart contract development tools as well.
Understanding Virtual Machines
A section of the press release describes a Virtual Machine as platform that “allows developers to write special programs, known as “Smart Contracts”, that run on every TRON network node in the world. Utilizing these smart contracts on the virtual machine, developers can build their own decentralized applications (dapps), creating a World Computer that is accessible to everyone.”
Tron Virtual Machine
Tron Virtual Machine is not the first Virtual Machine in the blockchain industry. However, do not be mistaken, it is nothing like the existing Ethereum Virtual Machine (EVM) in a myriad ways. The launch of TVM is a great milestone not only for Tron but also for the entire blockchain industry, particularly when it comes to the adoption of the technology. It is important to note that that the majority of decentralized applications (dApps) run on Ethereum Virtual Machine but developers are constantly seeking alternative platforms because Ethereum is no longer meeting their diverse needs. This situation has in turn resulted in a bottleneck for the development of the blockchain technology.
“TVM will enable developers who already built dApps on EVM to seamlessly migrate to a protocol that can support their needs with optimized speed, lower cost, and higher scalability. Furthermore, TRON uses Java, a commonly used computer-programming language, which will allow developers who already built non-blockchain applications to easily integrate blockchain technology using the TRON network,” Tron wrote in the press release.
TVM is superior to the current available VMs because it seeks to bring compatibility with other VMs. Future developments already have the framework that will allow the support for other VMs such as EOS VM. Marcus Zhao, Head of Tech at TRON said in regards to the TVM launch:
“We are very excited to release the mainnet version of TVM. This technology will empower developers to build better applications, allowing more people to access blockchain technology. This significant step in TRON’s development will boost the growth of our ecosystem, facilitate with expansion into more industries, and reinforce our position as the leader in the blockchain and cryptocurrency industries.”
Tron Virtual Machine is the beginning of more exciting features that will improve user experience on the network. Significantly, other industry sectors like gaming, finance, content distribution and social networking have a lot to gain from this launch.