Visitors to Tron Foundation’s official websites will now get to see a countdown for the release of the Tron Virtual Machine, and this has sparked a whole new wave of excitement among crypto-communities. The countdown reads 13 days and 14 hours at the time of writing this, which means that the Tron Virtual Machine (TVM) now has an official launch date – 30th July.
The lightweight virtual machine is custom built on Tron’s personalised ecosystem, and it is Turing complete, which means that the machine is global in terms of computation, and can render a copy of any other virtual machine. The machine can be seamlessly connected to any other dominant ecosystem provided, the environment supports DPS (Delegated Proof of Stake) protocol.
Most importantly, it is also compatible with the Ethereum Virtual Machine (EVM). This means developers that work with the Ethereum network will be able to easily shift to the Tron ecosystem while continuing to work with all of their known programming languages like Solidity. Once a smart contract is deployed on the Tron mainnet, it will be processed on TVM of the SR node to be securely protected from other external connections.
TVM uses the idea of the bandwidth, however, instead of the standard Gas-based system used by Ethereum. This makes transactions on the Tron network completely free of charge, and virtually no coins or tokens would be used up in the process. A fee is charged for network usage if the user manages to exceed the bandwidth.
The company maintains, that is, it stays dedicated to keep improving the TVM in order to keep up with the developers’ demands. They have also additionally conducted a bug bounty program in their Mainnet to reward ethical hackers who manage to track down potential issues in the system, aiming to bring to themselves the best brains in e-security. A strengthened mainnet would definitely help Tron establish themselves as one of the most stable and secure blockchains in the market. The GitHub Bug Bounty program, therefore, saw five exceptionally skilled developers awarded with a total prize money of $25,000.
The company has explained that it will do all it can to review bug reports within 2 days, after which it will respond to the bugs after having assessed the issue and vulnerabilities. It has also stated that the person responsible for identifying the bug will receive his promised bounty within 14 days of categorisation of the said bug. Meanwhile, they have issued a formal welcome to any and all ethical hackers to try and participate in their all new bug bounty program.