Less than two weeks ago, and on the 28th of September, the team at Tron (TRX) informed the community that the activation of the Tron Virtual Machine would be done on or before the 8th of October. The activation was hinged upon a consensus after voting on the platform.
Confirmation of Activation of the TVM Today, the 8th
In a twitter announcement just yesterday, Justin Sun informed the Tron community that the Tron Virtual Machine will be activated today, the 8th of October. He also added that the TVM will usher in a new era of Smart Contracts on the Tron Network. His exact words are as follows:
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
The full tweet can be found below.
What are Smart Contracts?
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network.
Why Is The TVM so Important?
A Virtual Machine is an application environment that emulates a computer system (dedicated hardware). The TVM will allow developers to create smart contracts that can be tested on it before deployment onto the Tron Mainnet. The TVM is also compatible with Ethereum’s as well as allowing developers to code in the Solidity programming language. Plans are also underway for it to be compatible with EOS and other blockchain networks.
The TVM will in turn become the one-stop shop for developers who want to migrate their projects to the platform from Ethereum or EOS and even create their own DApps. This in turn means that TRX could be headed to prosperous times in the markets as predicted by Justin Sun only yesterday.
What are your thoughts on the activation of the TVM? Will it bring the much needed price action for TRX in the markets? Please let us know in the comment section below.
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