TRON’s [TRX] Justin Sun stops short of revealing ‘secret project’
The TRON [TRX] community may just have to wait for a bit longer for the upcoming ‘secret project’ launch. After unveiling the TRON Virtual Machine’s (TVM) beta version on Monday, founder Justin Sun remained pretty tight-lipped about the secret project, and said that more details would be announced next month.
So far, the initial team building has been completed and a development plan for the project for the next three months has been put in place. He stopped short of shedding light on any other details, which he said will be revealed by the end of next month.
#TRON’s #TVM beta launched today! 15 GRs have been replaced by #TRONSR. Block height has reached 1M+. 40+exchanges have completed token migration to $TRX. Project Atlas with @BitTorrent will bring forth great future for both! TRON to the future! https://t.co/XbSKoU2KP9 pic.twitter.com/3rHLK8r2qH
— Justin Sun (@justinsuntron) July 30, 2018
Earlier speculations from the TRON community that the project could be related to the recent BitTorrent acquisition may turn out to be true. Justin Sun mentioned that the team was exploring the possibility of using the TRON protocol to improve that of BitTorrent, making it faster. TRON also plans to offer rewards to users who seed torrents on BitTorrent after downloading files.
“I hope the integration of TRON and BitTorrent will allow both parties to work better as one in the future,” Sun said, pointing out that BitTorrent will be the largest application on the TRON network.
He believes that this will allow the TRON network to surpass Ethereum in terms of daily transactions and eventually become the most influential public blockchain in the world.
He added that the project will not associate itself with mining projects, but will improve the current BitTorrent protocol and make it more competent.
TVM beta version launch
As for the TVM, which has been touted as a game-changer for TRON, the beta version allows people to test the virtual machine before its official launch. On August 30, the MainNet upgrade will be completed, after which the official version of the TVM will be unveiled.
Moreover, TRON will provide a sandbox which will allow users to test TVM and fix issues with the software. After the testing, TRON will collect feedback, which will be followed by a voting campaign among its Super Representatives. Once a consensus is reached, all the Super Representatives will start upgrading the virtual machine.
Justin Sun highlighted the fact that though the virtual machine is compatible with Ethereum, it is much faster and is more affordable. He believes the official version of TVM will be more stable, secure and user-friendly.
The launch, however, has failed to bring cheer in the crypto market. As of 1132 GMT, TRX fell about 2 percent against the U.S. dollar to trade at $0.036. The coin was trading 1.6 percent lower against Bitcoin at 0.0000045 BTC.
Though the virtual currency started off the day in the bullish zone, it has quickly succumbed to selling pressures and is now trading in bearish territory.
The coin has stumbled after hitting an intra-day high of $0.04, and continues to dip even lower. Currently, it is ranked as the 11th most valuable cryptocurrency, with a market capitalization of $2.40 billion, according to CoinMarketCap.
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