Tron (TRX) one of the leading companies in Blockchain Technology has revealed its plans to unveil its state of the art beta Version of Tron Virtual Machine, while it will be unveiling the official version on the 30th August.
This was announced on Monday as part of the company’s next step in building its network platform.
Tron founder, Justin Sun had earlier last week tweeted about his excitement on the new development and led the countdown to the announcement.
The Secret Project Unveiled.
Justin Sun has unveiled the secret project. According to him, the secret project is Atlas, it the integration of BitTorrent and Tron.
According to Justin Sun, the platform is exploring ways to use Tron protocol to strengthen BitTorrent protocol to make it faster, and increase the durability of BitTorrent swarms.
Why the use of Virtual Machine
Virtual Machine has become the order of the day for big technology companies as they give an enabling environment to simulate dedicated hardware networks. This also ensures that TRON can create an enabling environment to make the TRX virtual environment better.
The Virtual Machine technology is expected to take TRON to the next level whereby the company begins to emulate the EOS distributing operating system. This would enable the development of ideal decentralized applications.
Key Features in the TRON (TRX) Virtual Machines
Some of the key features in using this technology as against the Ethereum Virtual Machine are diverse, developers would have more tools in creating complex programs. The TRON virtual machines would also be free to deploy, unlike Ethereum machine.
TRON has also made the technology to be compatible with the popularly used Ethereum virtual environment which would allow ease for Ethereum developers to transfer, compile and modify codes. There is also easy access to port codes between both platforms.
These features would drastically reduce the monopoly of Ethereum in the Virtual technology market and could usher a period of TRON dominance. TRON has over the past few months seen a rise in use with the company revealing record numbers.
Over 60,000 transactions are performed daily, which is a significant milestone compared to the days when less than 10,000 transactions were recorded after the launch of the network. This suggests that TRON is moving in the right track.
TRX ranks 11th in the market share based on coinmarketcap’ evaluation, with a market cap of $2.4billion which makes it one of the most traded Digital coin in circulation.
What this means for Ethereum (ETH) Virtual machine
This secret project Atlas announced by TRON when completed would make the blockchain platform overtake Ethereum on daily transactions and become the biggest blockchain globally.
Many in the industry believe that once the project can contain the technology to develop more decentralized applications, TRON could easily overtake Ethereum in transaction activity. TRON network had at one point operated close to 1,300 transactions per second.
This showed that the company had the capacity to reach such levels consistently if the Virtual Machine technology is completed. TRON also boasts of 15 out of 27 Super Representatives needed and this would help the Network handle such huge transactions.
The effect in the crypto world will be huge as this would make TRK move up the list in value and could essentially see the digital coin breaking into the top 10 cryptocurrencies in market capitalization. However, all these predictions are still speculative and are all paperwork.
There has to be caution as it is known that many times, what is speculated may not live up to expectations. Ethereum Virtual Environment is deeply entrenched as number one in the Blockchain technology market and it would take something special to dislodge it from the top spot.
In other related news TRON recently revealed that the company had reached 1 billion users in over 130 countries as the Blockchain Company continues to wax in popularity. Coupled with the announcement on the new Virtual technology, it clear now that TRON is a company on the up.
TRON Recent Gains In The Market
The TRON project has been widely speculated in the past few weeks with a lot put into advertisement and planning. These developments are a deciding factor in the recent increase in the market value of TRX with the digital currency gaining 5% over the past week.
TRX was one of the top gainers on Sunday trading as high as $0.040 before falling to $0.036 at the close of the day. TRON project has been a big PR boost for the company as they usually release at least one event a month which causes a sharp rise in TRX price.
However, this latest announcement of the Virtual machine launch does not look like it is creating enough excitement in the crypto market. Though the premise of the secret project is appealing to some industry observers.