Tron (TRX) launched its much anticipated Tron Virtual Machine (TVM) and shed light on key developments during a Youtube live stream event. The event witnessed a flurry of announcements including creation of a digital token specifically for the recently acquired Bittorent network and progress of Project Atlas, among other things.
The crypto event was streamed live on YouTube on August 30, 2018, and saw tron CEO Justin Sun give insight into the upcoming milestones for the community.
Custom Token for Bittorent
One of the announcements made by Sun concerns the inception of a customized token that will incentivize user participation in Bittorent network. Per the announcement, users who upload files on Bittorent will receive the offered token based on the volume of bandwidth they provide on the network.
Tron’s ambitious Project Atlas will serve as a catalyst to integrate the Bittorent P2P network and tron blockchain network. This amalgamation will be achieved with the help of Bittorent protocol extensions.
In simple terms, Project Atlas aims to make the process of seeding torrent files lucrative for the users. Currently, the imbalance between torrent seeders and leechers has resulted in majority of the files being “dead” on the internet. By offering token-based incentives to file uploaders, file longevity and faster download speed can be ensured.
Sun also stressed on the point that participating users will only exchange tokens among each other on the basis of resources provided, not mining. This ensures that all users are on an equal footing.
Launch of Tron Virtual Machine
The live event also saw tron rolling out its virtual machine (TVM). The platform will equip developers with tools that will enable them to successfully create and execute smart contracts on the network.
“The launch of Tron VM means that Tron will start to translate from the basic infrastructure building to a new stage of the ecosystem expansion.
In the past months, we have provided a sandbox for the global community to test the TVM and find bugs. According to the feedback we have received on the tests, we have done some adjustments accordingly.”
Tron’s latest mainnet version “Odyssey 3.0” includes the aforementioned TVM.
In the light of series of encouraging developments, it is expected that TRX will shoot up in the crypto market. At the time of publishing this article, the crypto token trades at $0.024 per unit.