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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
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In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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