On July 30, 2018, the TRON Foundation officially launched the beta version of TVM. This news comes after its successful acquisition of BitTorrent and Torrent’s bid to become a TRON Super Representative.
TRON Independent Group activated TRON’s mainnet on June 25, 2018. Currently, community Super Representatives have replaced 15 of the first 27 Genesis Representatives.
In the live video, TRON Founder, Justin Sun, confirmed that more than 40 mainstream exchanges including Binance, Bittrex, Bitfinex, Upbit, Huobi, and OKEx have completed the token migration from ERC20 token to TRON’s TRX without any financial loss for the user.
TRON is celebrating the launch of their Virtual Machine today, for which it has announced the airdrop of about 10,531 TRX for top 100 winners. The day also marks TRON reaching the block height of 1,000,000 since its mainnet launch.
Throughout the month of August, TRON community members will test the TVM. On August 30th, TRON plans to complete its mainnet upgrade and launch the official version of TVM.
How does TVM work?
Flowchart of Tron Virtual Machine | Source: Tron Foundation Medium blog
Working of TVM is interpreted as mentioned:
- TVM is compatible mainly with Solidity.
- The virtual machine processes data through opcode, which corresponds to logic processing on a stack-based finite sate machine.
- TVM leads blockchain data and requests external data interface through the interoperation layer.
TVM’s use of bandwidth means that transaction and Smart contract operations are free on TRON’s platform. On Ethereum’s Smart contract platform, programmers have to be careful and limit the program’s complexity to reduce the gas fee. With TVM, developers will have greater flexibility to program more complex and interesting applications without worrying too much about how much certain tasks/transactions will cost.
During the live video, Justin Sun stated that TVM is completely compatible with Ethereum. But TVM’s speed and affordability make it an ideal choice for programmers, developers, and users.
TRON Virtual Machine is compatible with the VM of Ethereum. Developers will be able to compile and adjust their existing codes so Smart contracts in Ethereum can be easily ported to TRON. After testing, DApps will be uploaded to TRON’s mainnet and run on its SR nodes for public access. TRON is also planning to make it compatible with other VMs like EOS as well.
One of the most important features of TVM is that it will use bandwidth, unlike EVM that depends on gas. This means transaction and Smart contract operations are free. Sun predicts that the flexibility and unique solutions will attract many developers into TRON.
This enables developers to move their Ethereum based DApps over to TRON network, without any issues or roadblocks. Sun mentioned that developers will be able to use mainstream developing tools such as Remix, Truffle, and Web3.js to create DApps based on the TRON network.
TRON SR has created doubts in the TRON community about the utility of running a node if every validation will be done by Super Representatives. The weeks leading to the TVM launch will be crucial for the TRX token as it was moving positively against the market before the July 30th announcement.
Secret Project Announcement
Justin Sun also talked about TRON’s Secret Project. He mentioned that the “Secret project will not associate itself with any mining projects, nor will it have any negative impact on BT user experience. For BT users, Secret Project is only going to strengthen the current BT protocol and make it stronger and more competent.”
Meanwhile, Ledger, FreeWallet, and now, Atomic Wallet, announced support for TRX. This allows more options for TRX holders to invest in the cryptocurrency.