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

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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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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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INJ Crypto Surges After Injective Launches a $150M Fund

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Injective Protocol’s INJ price jumped sharply on Wednesday as demand for the coin roared back. The token jumped to a high of $2.46, which was the highest point in months. At its highest point on Wednesday, the token was up by over 90% from the lowest level in 2023.

What is Injective Protocol?

The blockchain industry is made up of numerous layer 1 networks like Ethereum, Solana, and Avalanche. All these projects have tools that make it possible for developers to build on top of them. They are all used to build applications in industries like non-fungible tokens (NFTs) and DeFi.

Injetive Protocol is a layer 1 project that focuses on the DeFi industry. It is built on top of Cosmos ecosystem to make it easy for developers to build auto-executing smart contracts that are faster and cost-effective. Injective Protocol has raised millions of dollars from the likes of Mark Cuban and Panterra Capital.

According to its website, Injective has made over 152 million on-chain transactions with an average transaction cost of less than $0.01. Some of the top applications built on Injective are Helix, Astroport, and Frontrunner. 

Helix is a decentralised orderbook crypto exchange for trading digital assets with zero gas fees. Frontrunner, on the other hand, is a sports prediction market while Astroport is a popular AMM for swapping crypto assets.

Injective’s INJ token…

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The Graph’s GRT Recoils After Optimism, Celo, Avalanche Integration

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The Graph’s GRT token price pulled back on Thursday even after the positive ecosystem news. GRT pulled back to a low of $0.076, which was a few points below this week’s high of $0.088. The token has surged by over 47% this year. 

The Graph adds Optimism

In a statement, The Graph announced that it will add Optimism to its network as it continues to expand its ecosystem. This means that Optimism developers will be able to use The Graph’s query technology to access data in their platforms. The data will be served by subgraphs on the decentralized network. 

Optimism is a leading layer-2 network that helps developers to build decentralized applications. Like other layer 2 platforms, Optimism supercharges dApps by increasing their speeds and lowering their transaction costs.

Optimism has been used to supercharge 97 DeFi dApps that have a total value locked (TVL) of more than $646 million. Some of the top dApps that use its technology are Synthetix, AAVE V3, Velodrome, Curve, and Uniswap V3.

The Graph’s integration came in the same week that the network integrated other networks like Celo,Arbitrum, Avalanche, and Gnosis. All these blockchains are solving important challenges in the blockchain industry. Combined, they all have a total value locked (TVL) of more than $3 billion.

The Graph price prediction

The Graph Price

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