With August 30th, the date of the release of TRON Virtual Machine (TVM), comes closer, the team behind the coin decided to release a complete upgrade of the crypto’s MainNet.
TRON’s (TRX) community witnessed even more progress of their favorite crypto. TRON Virtual Machine is scheduled to release its full version in a matter of days now. With a situation like that, the team also completed the newest upgrade for the TRON MainNet.
10 days to go till the launch of TVM official version on August 30(UTC+8). pic.twitter.com/4P6B75KUit
— Justin Sun (@justinsuntron) August 20, 2018
The TRON VM is currently still in its beta version, and it will remain like that for around 10 more days. With this date rapidly approaching, TRON also decided that it should improve the efficiency of the platform with a new MainNet update. Justin Sun, TRON’s very founder, addressed the details in a recently published open letter which explains all the important aspects of the move to the coin’s community.
TRON Virtual Machine and MainNet upgrade approaching
According to Sun’s announcement, TRON VM is about to arrive on August 30, after it spent more than a month in its beta version. The beta version was launched on June 25, with excellent results. At the same time, the team activated TRON’s MainNet. On July 30, the blockchain reached the height of 1,009,319. The biggest number of transactions per day in this time period was 49,518, with the number of global nodes reaching 367. Finally, he also announced that the number of account addresses reached 75,206.
He ended the announcement by informing the coin’s supporters that they can expect the official version of TVM on August 30, together with the MainNet upgrade.
During one of his interviews, Sun stated that the team is already prepared to launch the TVM and the MainNet upgrade. However, the team doesn’t want to rush anything. Instead, they are taking all the necessary tests to ensure that the launch will go without issues. With the MainNet already being functional for nearly two months now, the team is looking to improve it in order to make it capable of sustaining the TRON VM, which will be used for making dApps.
Why are the MainNet and TRON Virtual Machine so important?
The MainNet’s upgrade and TRON Virtual Machine are both scheduled for August 30, and this event will massively improve TRON’s network, as well as give it additional capabilities. According to Justin Sun, TRON’s blockchain will become much faster after August 30, with its speed being over 200 times greater than that of Ethereum.
This is a big thing for TRON’s community because the platform will also be more scalable after the upgrade. Many in the community are expecting new platforms and projects based on the TRON protocol to start appearing in the days following the event. Additionally, with more activity on TRON’s network, the coin will gain even more exposure and significance. Eventually, many are hoping that this might lead to a massive price boost for TRX.
And, while only time can tell what will actually happen, from what we have seen so far, this is definitely a valid possibility.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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