Though TRON (TRX) was initially mocked by crypto enthusiasts for being too ambitious, the project seems to be proving critics wrong with win after win this year.
Only a couple of days ago, the platform revealed its new social media dApp a little after announcing its purchase of BitTorrent back in July. On top of launching a Twitter-compatible payment service and acquiring Blockchain.org, TRON is finishing up August with the launch of its Tron Virtual Machine (TVM). The platform will be moving out of its beta that went live on July 30th.
The Future of Smart Contracts
Put simply, a virtual machine enables developers to write and operate smart contracts, which are essentially ‘if-then’ statements that process transactions on a blockchain. These smart contracts work directly with decentralized applications and provide a new way for consumers to interact with the digital world.
TRON isn’t the first platform to launch a virtual machine, with Ethereum having its own Ethereum Virtual Machine (EVM) for a while now. However, the TVM is one of the most viable competitors to the EVM yet produced, providing an alternative to developers looking for a new platform to create applications.
In TRON’s press release, the company elaborated on the potential for its TVM:
“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.”
Suggested Reading : Learn more about Tron in our beginner’s guide.
Decentralize The World
Aligning with its intent to create a decentralized Internet, the TVM will also be compatible with other virtual machines. Though it won’t be in the initial launch, the TVM has planned collaboration with the EOS virtual machine, according to Marcus Zhao, the head of technology at TRON.
TRON wants to create the best user experience possible, and all of its recent innovations are looking to do just that. It’s only a matter of time before we see what else the team is up to, and 2018 is an excellent indicator of the future.
However, a lot of TRON’s success is reliant on founder Justin Sun. When discussing the beta launch of the TVM, Sun quoted none other than Vincent Van Gogh to describe himself:
“The world is crazy, not me. My talent will be recognized one day. Even if the world does not understand me now, my efforts will not be in vain.”
Sun is undoubtedly doing whatever he can to push his vision. He seems to view himself as an Elon Musk-like figure for the blockchain world. However, his execution of the TVM and future TRON projects is what’s important.
The Importance of Virtual Machines
Virtual machines are a precursor to blockchain technology. The idea has been around since the seventies and has been used in the Internet era to improve resource distribution and enable multiple users to use a server at once.
In the case of the blockchain, the virtual machine allows users to complete the same task all at once. With the TVM and EVM, the network is used to test dApps in a simulated domain. This allows developers to work out any kinks and ensure their dApp is ready for mass use.
As mentioned above, the TRON virtual machine is an alternative to the EVM. The newer project was built to counter the EVM’s high gas fees and to provide more efficient development tools.
Currently, the TVM has around 100 million users, with growth to come after all of these acquisitions and, of course, the official launch tomorrow.
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