The cryptocurrency raised the bar with successful projects all year round. In March the testnet was launched, a month later the mainnet took off, and in June the Super Representative (SR) election started.
The CEO of TRON Justin Sun took the time to share the exciting news on Twitter. The event will be live-streamed at 6:30 PM San Francisco time.
As one of the top providers of the decentralized internet infrastructure, Tron was able to acquire BitTorrent and now has over 100 million users. The Tron Virtual Machine is supplied with a package of smart contracts and development tools.
The announcement of TVM was made through a press release. The machine enables developers to design personalized smart contracts and build Dapps. The utilization of both would create an accessible network for users across the world.
The Tron Virtual Machine cannot be compared to the Ethereum one (EVM). Although TVM is not the first, it is definitely an achievement for the Tron Foundation and blockchain technology.
The majority of decentralized applications come for Ethereum Virtual Machine. However, developers are no longer satisfied and are looking for alternative ways.
TVM will provide enhanced speed, low costs, and better scalability. Protocols made on EVM can be easily migrated to Tron.
Furthermore, TRON is known to use the popular programming language Java. It can assist developers with non-blockchain apps who wish to integrate the blockchain through its network.
The head of Tech, Marcus Zhao commented that the Tron Virtual Machine will allow developers to improve their skills and empower more people to be a part of the blockchain industry. For Tron, that step is important as it grows the ecosystem and reinforces the cryptocurrency as a leader.
Not only the cryptocurrency industry will gain from the release, but other sectors like gaming, finance, and social network media will reap future benefits from it.