The countdown to the launch of the Tron Virtual Machine (TVM) currently reads 1 day and 18 hours at the moment of writing this. This means that on the 30th of July, Justin Sun and the Tron Foundation will activate the testnet to the TVM as well as unveil the new ‘Secret Project’ they have been working on.
In preparation for the launch of the TVM, Justin Sun tweeted the following:
TRON is 80 times faster than Ethereum. With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world! #TRONBT $TRX pic.twitter.com/EsQd34Vq4u
— Justin Sun (@justinsuntron) July 27, 2018
Connecting the dots as to what Justin meant, we are reminded that the Tron mainnet can handle 2,000 transactions per second (tps) which is actually 80 times faster than that of Ethereum at 25 tps. This is the first area where the Tron project will succeed where Ethereum has not yet managed to solve the scalability issues on its platform. With 2,000 tps, DApps will not slow down the network as is the case of Ethereum. Network congestion might happen down the road on the Tron network, but the Tron Foundation has probably anticipated this.
A second advantage Tron has as can be seen from Justin Sun’s tweet, is the additional platform of BitTorrent to further decentralize the web according to the vision of the Tron Foundation. We are constantly reminded that the Ethereum platform is not 100% decentralized with a few organizations or individuals having a majority say as to what happens on the platform. This is how Ethereum Classic (ETC) came to being when a section of the ETH community disagreed with the ‘top management’.
When we look at TRON, there is Super Representation that guarantees no one entity has power over the whole ecosystem. Even Justin Sun had to run for election to become a Super Representative. In this case, we see pure democracy at work.
Thirdly, the Tron Mainnet does not run on ‘gas’ as is the case with the Ethereum platform. Transactions on the Tron network are free as well as smart contract operations. This in turn means that Developers on the Tron network can focus more on developing code that works, rather than how to make transactions on their DApps cheaper for the end user. With the Tron Virtual Machine that can be compatible with the Ethereum Virtual Machine, developers will be able to compile and adjust their existing codes in an environment where it is easy to port to TRON.
In a nutshell, the Tron project is a major threat to the dominance of Ethereum as the choice platform for DApps and smart contracts. If the Tron mainnet manages to enable ICOs (tokenization) on its platform, then Ethereum might as well become obsolete. With less than 2 days to the TVM launch and the ‘Secret Project’ on the 30th of July, TRON triumphing over Ethereum is slowly becoming a reality.