On 28 September, TRON issued an announcement stating that the activation of the TRON Virtual Machine would go live before or on 8 October. The activation mainly depended on a voting consensus on the platform.
Justin Sun, TRON’s CEO, on 8 October highlighted that the TVM would be activated the same day through a tweet that stated:
TRON (TRX) Price Today – TRX / USD
“Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8 pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX”
Tron (TRX) Smart Contracts With TVM
The TVM is a virtual machine that is similar to a computer system that will provide developers with a means for creating smart contracts that can be tested before they are implemented on the TRON Mainnet. Smart contracts are computer protocols that facilitate credible transactions between a buyer and seller with the requirement of a third party to execute the transaction.
Currently, TVM supports Ethereum’s blockchain, however, in the future, TRON anticipates at integrating compatibility with EOS as well as other blockchain networks. Similarly, TVM allows its developers to code using the Solidity programming language.
In his tweets, Sun predicted that TRON’s token TRX might undergo an increase in value in lieu of the recent upgrades. This prediction might actualize when the application becomes an integral part of developers who want to create their dApps or those that would like to transfer their projects from Ethereum or EOS blockchains.