In the last month, TRON (TRX) put forward its first TVM launch and its MainNet update, with a swift progress on all fronts. At the moment, as for Version 3.1, the nodes have finished their update up to 90%, including SRs and exchanges. This has set up a good base for operating Version 3.1. Most of the SRs have completed their update (26 out of 27 SRs).
As it is expected that after the voting on 8th October, Tron Virtual Machine (TVM) will be officially activated. In Q4, TRX will release a small upgrade of the Version from 3.1v to 3.2v, on 15th Nov and by the end of December a big upgrade will happen that will be the upgrade to Version 3.5.
TRON 3.2v will make the performance much better of the solidity nodes. It will use memory database as the default database. This will improve the ability of performance and help with conditions like reboot, outage and other exceptions.
In Q4, TRON’s big update will include the some feature which are following:
- Account state, easier to spot abnormalities.
- Fast Sync function, for complex contracts, the full node is only able to verify results but not the execution process.
- Multi-signature function and anonymous transaction function on the chain, TRON is looking into anonymous transaction and TRON will make it an optional function in Version 3.5.
- TRON will add the BFT consensus mechanism to Version 3.5, increasing TRON’s TPS continuously.
On yesterdays live stream Justin Sun the CEO of TRON updated about progress of TRX network and he talked about the TRON ecosystem on the following four perspectives:
- The development of the TRON network and the TRON ecosystem,
- Plans for the future of the TRON network,
- A demo of our latest DApp,
- Progress of Project Atlas.
Sun told about the progress of TRON network. The TRX network saw a significant growth in the last month. The total number of TRON accounts have increased up to 411,032 and TRX has 20% more accounts than that of EOS. Currently, TRX has 13 times more number of accounts than that on Ethereum (ETH). The highest number of single day transaction voulme on TRX network is 440,135 and it is 49 times higher than of Ethereum daily transaction volume. The average daily transaction volume is 146,041 and it is 29 higher than that of Ethereum.
In the live Stream Yesterday (28th Sep, 2018) Justin Sun expressed some following developments which are ongoing and coming ahead.
98 Billion Token Burn
TRON foundation has finished its 5th coin burn and is planning to burn more tokens up to 4.9 billion old ERC20 tokens. By including past coin burns, TRX will burn up to 98 billion tokens overall, taking up 98.01% of the total 100 billion TRX issued as ERC20 tokens.
Advancement of BitTorrent
TRX announced on Thursday that its up coming project will connect BitTorrent and TRON. It will make the BitTorrent protocol faster for peers, and will uplift both old and new users to run the file sharing protocol for longer time. The uTorrent web under BitTorrent is released and is so far limited in China. Users in China will witness the top downloading service with uTorrent web.
TRX/USD trading pair is now listed on Bittrex, a fiat-to-cryptocurrency exchange based in the United States, meaning that TRX’s fiat transaction is entering a new phase. TRX was listed on the third largest exchange in Europe called BitBay, further influencing the European market. Binance, one of the biggest digital asset exchanges, opened the trading pair of TRX/BNB. One of the largest exchanges in South Korea, Bithumb, completed their TRX token migration.
In addition, quality exchanges and wallets including Kucoin, Exrates, Changehero, Abra, CobinHood, SatoWallet, Exdous, CoinExMarket, Bibox and CoinDeal have listed TRX subsequently. The value of TRX has continued to gain recognition.
The TRON network has cooperated with DapDap (World largest blockchain gaming community), DappReview and DAppworld to support developers in the developer community, online and offline activities, as well as marketing promotion, so as to support developers to roll out high-quality dApp content and enrich the TRON ecosystem as a joint effort.
Looking Forward into Q4
Will all the statistics and developments by Tron (TRX) discussed in the live stream meet up, it shows that TRON is going in the direction and will be well escalating in next coming months. At the time of writing, TRX is trading at a price of $0.022 with a market cap of $1.4 billion USD and having a trade volume of $110 million USD. TRON is showing serious signs of hitting a price of $1 or more as the market has also shown signs of heading towards a similar bull run at the end of last year and earlier this year.