Tron Virtual Machine (TVM) August 30/31 Launch Will Be Pivotal For TRX Hodlers: Here’s Why
The delay and anticipation around SEC’s decision on Bitcoin ETFs have made the crypto markets a turbulent one. Even Tron has also not been spared. TRX is currently valued at $0.20 at the down 6% in the last 24 hours. This is despite the project having a successful Testnet launch; a successful Mainnet launch; a successful Beta version launch of the Tron Virtual machine; as well as a successful token swap that started back in June and concluded a few weeks ago.
It has been a period of continual decline for the TRX digital asset since early May when it was valued at $0.0973. The digital asset has since fallen 80% in 4 months.
Primarily to blame is the general decline in the crypto-markets that has been fueled by a sea of bad news after bad news. First, there was the rejection of the Winklevoss ETF followed by the postponement of the CBOE sponsored Bitcoin ETF up until the 30th of September. If it were not for these events, TRX would be a top 5 coin by now due to the massive achievements in a 12 month period.
The Significance Of August 31st
Ever since the mainnet was launched, TRON foundation is claiming to have seen their project growing at an improved pace of growth, comparing TRON mainnet with the overall performance of Ethereum. Tron Virtual Machine should make the project better and bigger as stated by the TRX team, while it should make the production and deployment of decentralized applications more efficient.
Justin Sun is quoted as saying the following with respect to launching the final Virtual Machine version on the 30th of August:
“Actually…we are ready for the launch already. But we are doing a lot of the tests…like the pressure test…volume test…to make sure it works very well when we launch. Our Mainnet was already launched on the 25th of June, but right now we are building the Virtual Machine on the Mainnet. The Virtual Machine is [where developers] can develop very interesting Decentralized Applications, DApps, on the network.”
Consequently, it is all systems go for the Tron Project on the 30th August with the final piece of the puzzle eventually in place. This will mean that the Tron Mainnet will be able to migrate the 18 current Tron Dapps to the Mainnet. One such app – Peiwo – is estimated at having over 10 Million active users. The total amount of users on the 18 DApps was once claimed to be 100 Million. This means that all these users will migrate to the Mainnet as soon as the final Virtual Machine is ready.