Tron Gets Ready to Take on Ethereum With TVM Official Version

Tron Gets Ready to Take on Ethereum With TVM Official Version
фото показано с : blokt.com

2018-9-6 13:07

One of the most well-known start-ups in blockchain, Tron, launched the Tron Virtual Machine (TVM) on Aug. 30. It will support a large number of DApps, which will help Tron in competing against the Ethereum Virtual Machine (EVM). If the platform can solve Ethereum’s scalability issues and handle a large number of decentralized applications in the upcoming months, Ethereum could be dethroned. The company recently acquired uTorrent, which gives it over 200 million users ready to migrate to its DApps.

How Are Virtual Machines Changing?

The role of virtual machines has changed as the world is adopting the Blockchain 3.0 era. Ethereum, widely considered the harbinger of the Blockchain 2.0 era, developed a Turing complete EVM, which uses smart contracts. It provides a safe virtual environment for applications to operate. In the Blockchain 3.0 era, the number of DApps is growing consistently. Hence, blockchains have to rise to the challenge to provide in a highly competitive industry.

TVM aims to rectify the problems with EVM using a concept called “bandwidth.” Instead of using “gas” for making transactions (like in EVM), Tron carries out operations for free. There is no token consumption during a transfer, which means that computing capacity can now increase independently of the number of tokens.

How Is TVM Different From Other Blockchains?

TVM, which uses the DPOS consensus mechanism, is compatible with the EVM environment, which means developers familiar with Solidity can easily create applications for the Tron blockchain. The smart contract remains isolated from the external environment as it is uploaded to the Tron MainNet but executed in the TVM of the Super Representatives’ nodes.

The Turing complete TVM claims to have “faster speed, lower costs and easier operation on top of it.” With the advent of the TVM, there comes a more comprehensive environment for developers to use. Tron plans to bring several new upgrades to the TVM, expecting that blockchain “will be applied in more diverse scenarios.”

Some experts sound the death bell for Ethereum’s native crypto “ETH,” arguing that with a growing number of transactions, the value of ETH will eventually become zero. Ethereum’s blockchain is currently undergoing several issues, which allows competing chains like Tron to take advantage.

Tron Gets Ready to Take on Ethereum With TVM Official Version was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Источник: blokt.com

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