On October 11, Tron – the blockchain project striving to build the infrastructure for a fully decentralized internet – activated their long-awaited virtual machine.
On Twitter, founder and CEO of Tron Justin Sun stated that “Tron will be upgrading to Odyssey 3.1 at 8pm SGT,” and that the ensuing Tron Virtual Machine (TVM) will usher in the smart contract era.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
The activation went live three days after schedule, after a problem with a particular block on the network was resolved, as a result of platform consensus after voting.
With smart contracts being a crucial building block in forming a decentralized ecosystem of peer-to-peer transactions, this will make Tron a viable competitor to Ethereum, which is set to lose their advantage in the smart contract realm due to scalability issues.What Does the Virtual Machine Mean for Tron?
So what exactly is a virtual machine?
Simply put, it’s a test environment for dapps. With the TVM in action, developers will be able to test their smart contracts, and rectify any issues before deploying them on the Tron mainnet.
The 4 foundational features of TVM are:Completely compatible with Ethereum Unique virtual memory Distinct resources manager User-friendly energy consumption model
Currently, the TVM allows developers to code using the Solidity language. In addition to being compatible with Ethereum, the TVM is planned to also be compatible with EOS and other blockchains in the future.
The TVM will be governed by a committee of super-representatives elected by TRX token holders.
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