An Open Letter to the Community on TVM Beta Launch
It’s been over a month since TRON‘s Independence day on June 25th. Now we’ve reached yet another milestone: TRON virtual machine beta version is officially launched today!
Starting from day one, we have been striving for becoming the best in the industry. With the hard work and perseverance of the entire TRON team, I am proud to say that TRON network is now stronger than ever.
TRON MainNet was activated by TRON Independent Group on June 25th, SGT. Currently, 15 of the first 27 Genesis Representatives are replaced by 15 community Super Representatives (Team Tronics, Skypeople, Sesameseed, GryptoGirls, TrxDexCom, CryptoGuyInZA, ，Tronstronics.com, CryptoDiva, Justin Sun, uTorrent, CryptoChain, TronOne, MLG-Global, BitTorrent, Lianjinshu). During this election, we had more than 70 participating SR candidates, reflecting the democratic and autonomous nature of TRON community.
TRON MainNet has been running smoothly. As of July 30th, 2018 SGT, the block height reached 1,009,319, the peak number of single day transaction marked 49,518, global nodes reached 367 and total number of account address was 75,206.
More than 40 mainstream exchanges including Binance, Bittrex, Bitfinex, Upbit, Huobi and OKEx have completed the token migration from ERC20 token to TRON’s TRX without any financial loss of the user;
We’ve destroyed more than 92,424,664,154 ERC20 tokens, 92.42% of the total. Before we completed the migration, the remaining ERC20 tokens will still remain valid for exchange at Binance and Gate.io;
BitMEX, one of the most prestigious digital asset futures exchange, launched TRX contract. Meanwhile, Chargelly added a brand new credit card option for TRX purchase, which means the market potentials of TRX are being further acknowledged;
Mainstream wallets like FreeWallet and Ledger now support TRX, bringing better user experience to our TRX holders;
TRON is also working with PornHub, which will provide more extensive application scenarios for TRON’s technologies；
Most importantly, TRON completed its acquisition of BitTorrent, the leading player in P2P industry with the most pervasive P2P downloading network. BitTorrent provides top-notch downloading services for more than one billion users from 138 countries. The acquisition enables TRON and BitTorrent to become the largest decentralized ecosystem in the world.
Today, we launched the beta version of TVM. In the following month, TVM will be tested by all the TRON community members. On August 30th SGT, TRON will complete its MainNet upgrade and launch the official version of TVM.
TVM is completely compatible with Ethereum, only faster and more affordable. Developers are able to use mainstream developing tools such as Remix, Truffle, and Web3.js as well as wallet extension of the browser to create DApps based on TRON network.
Next month, TRON will provide a sandbox for its global community to test the VM and find bugs. Then, according to the feedbacks received, TRON will initiate a voting campaign among SRs while adjusting the beta version. After reaching a consensus, all SRs of the community will start the upgrade program of TVM.
The official version of TVM, which will be launched on August 30th, is going to be more stable, more secure and equipped with optimized compile and instruction set. The ecosystem, including development tools, developing teams and game engine development, will eventually bring about a more efficient and more user-friendly virtual machine with higher performance.
Finally, I’d like to say a few things about our Secret Project after the BitTorrent acquisition:
We’ve completed initial team building and has set up a development plan for the next 3 months. We will reveal further details by the end of August.
Currently, we are exploring the possibility of using the TRON protocol to improve the BitTorrent protocol, in order to make BitTorrent protocol faster and lengthen the lifespan of BitTorrent swarms. I hope the integration of TRON and BitTorrent will allow both parties to work better as one in the future.
By integrating the TRON network into Bittorrent, we aim to improve on the currently exisiting altruism. At this point, there are no incentives for peers who have completed downloading to continue to seed. We intend to extend rewards to peers who seed torrents, infusing more resources into the torrent ecosystem.
The TRON network will serve as the underlying protocol of the Secret Project. Hundreds of millions of BT users across the globe will become a part of the TRON ecosystem. BT will be the largest application on the TRON network, which will allow TRON surpass Ethereum on daily transactions and become the most influential public blockchain in the world.
The integration of BitTorrent and TRON will offer new possibilities to global payment and settlement of online content. The creators of this content could reach hundreds of millions of global users through this decentralized network without any intermediaries.
Various industries will be significantly affected by these changes.
Secret project will not associate itself with any mining projects, nor will it have any negative impact on BT user experience. For BT users, Secret Project is only going to strengthen the current BT protocol and make it stronger and more competent.
Starting from today, TRON will enter the new phase of expanding our current ecosystem. We are grateful for what we have achieved in the past, and we are looking forward to seeing what the future holds for us.
TRON to the future!
July 30th, 2018