On the 30th of July, Justin Sun wrote an Open Letter to the Tron Community with regards to the Beta launch of the Tron Virtual Machine. In the letter, Justin outlined the final plan of the Tron Foundation to launch a fully functional Tron platform. This would be made possible through the release of the official version of the Tron Virtual Machine. In the statement, Justin sated the following:
Today, we launched the beta version of TVM. In the following month, TVM will be tested by all the TRON community members. On August 30th SGT, TRON will complete its MainNet upgrade and launch the official version of TVM.
This means that there should be another countdown at the back of our minds with regards to the Tron project. August 30th is only 13 days from today, and at the moment of writing this. The reason the final version of the TVM is the final piece to the puzzle to make Tron great, is that it is compatible with the Ethereum platform. This will in turn make probable for developers to migrate onto the Tron Network. Justin explained this when he said:
TVM is completely compatible with Ethereum, only faster and more affordable. Developers are able to use mainstream developing tools such as Remix, Truffle, and Web3.js as well as wallet extension of the browser to create DApps based on TRON network.
The official version of the TVM is going to be more stable, secure and equipped at being developer friendly. The TVM uses bandwidth instead of gas as seen in the Ethereum Virtual Machine. This means transactions and smart contract operations are free on the Tron network and once again being more attractive to DApp creators than the Ethereum platform.
Current DApps on Tron
There are currently 18 official DApps on Tron that include Peiwo with 10 Million users. These DApps have yet to be migrated onto the Tron Mainnet due to the fact that the official TVM has not been complete. Once that is done, all Tron DApp users – that had been estimated as being 100 Million – will migrate to the Tron Network. There is also the other 100 Million users from BitTorrent that will be integrated into the ecosystem through project Atlas. All of the users and DApps will be using TRX to power their needs on the platform.
In conclusion, and what we are trying to elaborate here, is that all the news about an undervalued TRX have been true. This has been due to the fact that TRX has not yet been injected into the Tron Mainnet 100% as a utility coin. This will be made possible once DApps start being created on the platform as well as those which will migrate from other platforms such as Ethereum’s. With the Tron network being 80 times faster than that of Ethereum, it is only a matter of time till we start seeing Tron DApps in plenty as well as TRX rising like a Phoenix in the markets.
Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.