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Tron's virtual machine to be activated today with the promise of being 200 times faster than ETH, prices rise on the exchanges
Justin Sun, the founder of the Tron community, recently announced that the Tron network will update today on Odyssey 3.1 at pm. After that, the Tron Committee and Tron Virtual Machine function will be online for the first time, which will mark the "Age of the Smart Contract," Sun said. You can read the original announcement here.
Based on community consent, #TRON will upgrade to Odyssey 3.1 at 8pm SGT. The commission function TRON and TVM will go live, marking the beginning of Era Smart Contract. TRON will be 200 times faster than ETH, 100 times cheaper than EOS. developers and users of dApp, this is for you! $ TRX
– Justin Sun (@justinsuntron) 8 October 2018
This new update will allow Tron to finally host smart contracts just like those of the Ethereum blockchain and to use a trial of the stake system. According to Justin Sun, Tron will be 200 times faster than Ethereum and 100 times cheaper than the EOS network.
If things work as expected, this launch will represent a big comeback for Tron, who was called a scam only a few months ago since there was evidence that part of his code was plagiarized and many people considered Tron too speculative, as so like the Virtual Machine code to be a "Frankenstein code" that would not work well. The time of truth has begun for Tron.
The change of trend took place during the summer, when Justin Sun acquired Bittorrent and, under the name of Project Atlas, decided to redefine the entire project in order to integrate the company system and improve everything.
While the update was ready for some time, the activation of this new update focused on a consensus after voting on the platform, so everything had to be ready for launch.
First ten by April
Justin Sun can be accused of being many things, but no one can accuse him of not being an optimist. According to the Tron Foundation's main developer, Tron will be among the top 10 tokens by April 2018. He said that within half a year his product will continue to improve so much that the company will be at the top of the market. ;next year.
However, it is fair to say that the founder of the Tron Foundation can be accused of overpromising. This would not be the first time that Justin Sun decided to overdo it too much.
Tron Price Rises
As expected, the price of tokens has increased a lot due to all the noise. Tron has now increased 17% over last week as expectations on all features of the Tron Virtual Machine are increasing prices.
While most companies suffered from the severe bear market in 2018 and Tron is not an exception to this rule, its integration is turning back some of its prices. The token's historical maximum was $ 0.21 USD per token and now stands at 90% less at $ 0.027 USD, but it would be foolish not to perceive that the price is steadily increasing over time.
Test of the stake protocol
Unlike Bitcoin and even Ethereum, Tron does not use proof of work protocols, which means that there are no mining algorithms used by the company. The transactions are all processed through the company's Super Representatives, which have been selected by means of chain votes.
By limiting the production of blocks to a single powerful node, Tron is able to be much faster than Ethereum, for example, who is talking about leaving work trials for a long time. With a fraction of the cost, the Tron Virtual Machine will be able to achieve considerably better results than Ethereum. This is important because Tron wants to sell the idea of his virtual machine to the world. TVM will allow developers to stop using Ethereum and start using smart contracts based on Tron technology.
The Tron Virtual Machine will be compatible with Ethereum and the Solidity programming language. There are even plans to make it compatible with EOS.
ETH and EOS, on the other side of Tron, are often confined by RAM or processing power and the two networks are facing these problems. It remains to be seen whether these promises will really take flight or if Tron will be an eternal promise that can never be delivered.
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