Tron CEO and Co-founder, Justin Sun recently announced that Tron’s Virtual Machine was officially activated on October 8. Sun posted about the important update on his official Twitter page promising that TVM will be 200 times faster than Ethereum.
The original message by the CEO stated: “based on community consensus, Tron will be upgrading to Odyssey 3.1 at 8pm SGT. The Tron Committee function & TVM will go live, marking the start of the Smart Contract Era. Tron will be 200 x faster vs. ETH, 100 x cheaper vs EOS. dApp developers & users, this one is for you!”
The period of important developments started earlier this year when company made an announcement about acquiring Bittorrent. Since then the company has been making important updates on the Atlas project. Tron had however already announced the recent TVM update earlier. Meanwhile the official activation of the project took some more work and time to be completed.
The source also suggests an opinion regarding the significance of the recent development for the company. The opinion states that “if things actually run as intended, this launch will represent a great comeback. The project was being called a scam just a few months ago as there was evidence that some of its code was plagiarized. So many people considered TRX to be too speculative, as well as the code of the Virtual Machine to be a “Frankenstein code” that would not work well. The time of truth has begun for Tron”.
TRX Price Development
Meanwhile, as Tron officially announced the activation of the new project yesterday, on October 8, the price has already seen a positive developments. The new update has a promising influence on the company. The leaders still promise to reveal even more developments and updates in upcoming future.