The TRON (TRX) ecosystem has undergone a lot of transformation in a very short time and the project team has met almost all its promises and under the hard work it is expected to start yielding results. A shift from the media hype to the network development has seen increased TRX uptake and this has coincided with the Official TRON Virtual Machine launch.
Justin Sun, through his official twitter account, has announced the launch of TVM which ushers in a new world of features for the future. This comes at a time when the coin needs escape from the bear grip and start its recovery journey.
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The launch is expected to take the platform to the next level and TRONs popularity in the Chinese has seen TRX ranked as the most promising coin and the technology behind it has impressed more investors to come onboard.
Unlike past announcement, the TVM launch appears not to have an instant impact on the TRX price as the coin continues to wallow in the red trading territory at least for the last 24-hour trading session prior to compiling this report. TRX is trading at $0.019924 after marginal loss of 2.69% and 1.71% to the dollar and BTC respectively. However, the coin is still holding on the 13 positions among the most valuable coins by market cap.
TRON (TRX) Spent-Ability on the Rise
The excitement around the launch of TRON (TRX) Virtual Machine has seen increased attention as news have surfaced that TRX is among the most spent digital coins in the market today. A spot check on the digital coin performance indicates that after getting added on the Bitcoin Superstore in August, the coin now accounts for 17% of all global purchases from the store.
This performance dates back to when the coin was added as an official payment at the store which has seen Bitcoin lead with 35% with Nano making a surprise second position with 20% of the total purchases. According to a tweet from the official Bitcoin Superstore handle says:
“The “Most Used” cryptocurrency at http://bitcoinsuperstore.us over the past 10 days was #Bitcoin. Bitcoin made up 35% of all transactions, with the next “Most Used” being #Nano at 20%, #Tron at 17%, & #Litecoin at 8% of all transactions.”
TRON VM Launch Implications
With the successful TV test run and official launch, investors are keenly looking at the TRX momentum in the market. The global user feedback has been very encouraging and this has brought together the newly elected SRs to take over the networks necessary upgrades.
With everything now in place and the TRON ecosystem is more secure and stable, the system optimization will remain an ongoing process. However, a statement through the TRON official blog adds that:
“The TVM launched in August will be more secure and stable compared to the test version. At that time, the compilation and instruction set will be further optimized. In addition, the entire TVM ecosystem, including development tools, developer team building, and game engine building, will be more comprehensive, eventually realizing higher performance, simpler operation and a more robust ecosystem.”
The Virtual Machine makes TRON compatible with The Ethereum Virtual Machine (EVM) ecosystem and this will expand its dApp capabilities since migration between the two players is now possible at a very low fee. This compatibility will see improved speeds and bring down the cost of transactions and TRON will be the biggest beneficiary.