TRON Virtual Machine Activation 4 Votes Away
Drew Wise, a member of Team Tronics tweeted that only four more TRON Super Representatives have to vote in favor for the Virtual Machine to be activated.
DAPP Phase here we come 🚀
— Drew Wise (@drewawise) October 8, 2018
The activation of TRON Virtual Machine would, as Justin Sun put it in his tweet, “usher a new era of Smart contracts” on the network.
Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX
— Justin Sun (@justinsuntron) October 8, 2018
So what, right? Actually, it is a very important event. TVM would allow developers to create smart contracts and test them before deploying them on the Mainnet. What this means for you, as a user, is that the chances of encountering errors reduce by a long shot.
Being compatible with Ethereum, the virtual machine can be used by Ethereum developers who use Solidity programming language. This would help them reach out to a bigger community of developers to work on the network and create useful products and services.
There are plans for making TVM compatible with other blockchain networks such as TVM as well.
The TRON community has always been a strong and supportive one. And for being that, the foundation has rewarded them well. Recently, on completion of the first phase of the Tronics Support Plan, the foundation has rewarded the community.
As per the Medium blog:
“Since the TRON Foundation released the Tronics Support Plan, we have received kind support from Tronics around the world. Now the Foundation will give back to our supporters the ownership of the 48051405.879290 TRX in the address: TRA7vZqzFxycHjYrrjbjh5iTaywSmDefSV, which is the 35th of the 1000 addresses currently locked. This address with the TRX in it will be removed from the list of addresses locked by the Foundation.”
The blog continues to say:
“Before releasing the TRX frozen by the TRON Foundation on January 1, 2020, the supporting funds from the supporters will match the funds frozen by the Foundation. During this period, this part of TRX is owned by community supporters, yet managed by the Foundation. In other words, the total amount of the TRX frozen will not change.”
The Foundation then thanks the community further by saying:
“The TRON Foundation would like to extend our heartfelt gratitude to all Tronics. We will continue our commitment in the R&D of the TRON public chain, developing and optimizing more DApps, and enriching the TRON ecosystem. We will march forward with our original faith of “Decentralizing the Web”. Only in this way can we give back to the supporters who had provided their selfless support for building the decentralized network of TRON.”
The foundation ends the blog by saying:
“From today onwards, the Foundation will make real-time adjustment of the amount of TRX frozen based on the progress of the Support Plan.
We will release a detailed list of the supporters with the amount of their donation after communicating with the supporters.
Thank you again for your support! Let’s TRON to the future together!”
Odyssey 3.1, the upgrade which the TVM activation is a part of is expected to increase the speed of TRON to 200 times faster than Ethereum, and 100 times cheaper than EOS according to Founder and CEO Justin Sun.
While the cryptocurrency has taken quite a beating recently, TRX is on a steady rise right now with everything going on. The supporters of the cryptocurrency have been quite positive about the whole upgrade and are certain that the price of the cryptocurrency would shoot up considerably after the upgrade.
Going by the history of the cryptocurrency, one can expect a lot of volatility in the prices of TRX after the upgrade. However, the prices might become stable in a few days after the upgrade.