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TRON Virtual Machine Is Finally Live — TRON Smart Contracts Era Begins

Published

6 years ago

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TRON Virtual Machine

After months of waiting, TRON Virtual Machine (TVM) is finally live. Recent announcements by TRON’s founder, Justin Sun, informed TRX enthusiasts of the new development via Twitter and urged them to enjoy TRON’s groundbreaking new product.

Despite the fact that TVM came a bit later than it was supposed to due to issues with a particular block, Sun’s team managed to resolve everything quickly. As a result, the platform launched TVM, giving the team, as well as TRX community, a reason to celebrate.

Thanks to Tron VM, an entirely new Smart Contracts Era arrived at TRON, which will now be 200 times faster than Ethereum, as well as 100 times cheaper than EOS. Additionally, due to the fact that smart contracts are crucial for the creation of a decentralized web, this marks another step that TRON has made on its way to achieve its goals.

What changes will TRON VM bring?

The importance of TVM lies in the fact that it represents a test environment for dApp creation. With it, developers can easily test and modify their smart contracts and dApps and discover any flaw before they deploy them to TRON MainNet.

TRON VM brings four crucial features — Compatibility with Ethereum, an energy consumption model that is entirely user-friendly, unique virtual memory, and distinct resources manager.

At the moment, developers can create dApps and smart contracts by using Solidity. However, thanks to new Ethereum compatibility, TVM can easily become compatible with other blockchains as well, at some point in its future. As expected, TRON VM is to be governed by TRON’s Super Representatives, which were previously elected by TRX holders through a voting process.

Due to its new virtual memory mechanism, TVM will also reduce the usage of physical memory. This will also reduce the cost of dApps. As for the resource management model, it will enable the sharing of CPU usage and memory alike. As such, it will additionally improve the efficiency of the entire system.

TVM is a project that has been announced a long time ago, and it represents one of TRON’s first truly big steps toward its way to decentralize the web. With a goal that huge ahead of it, it is not surprising that TRX enthusiasts were thrilled that TVM is finally live. The move also reflected on TRON’s price, which is something that only a handful of this coin’s previous achievements managed to do.

Granted, most of TRON’s advances happened during extremely bearish periods of 2018, when the market simply refused to allow TRX price to grow. Even so, it is encouraging to see TRX price surge by more than 5% only two days after a major price crash that has brought down even the largest altcoins. At the time of writing, TRON’s price is at $0.023298, with 5.60% increase in the last 24 hours. Whether this is a short-term surge or a beginning of a new bull run remains to be seen. For now, however, TRON seems to be doing pretty well.

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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.

Image courtesy of Jessica via Flickr

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

1 year ago

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December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

1 year ago

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December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

1 year ago

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December 1, 2023

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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