Tron [TRX], one of the top altcoins in the cryptocurrency market has witnessed a hike of more than 18% in the past 7 days. The coin sees the bright side right after Justin Sun, the CEO and Founder of Tron Foundation, launched the Tron Virtual Machine.
According to CoinMarketCap, at press time, the coin was trading at $0.025 with a market cap of more than $1.67 billion. The coin has gone up by more than 2% in the past 24 hours.
This marks the coin as one of the altcoins which has gained the most in the past 7 days alongside NEO, EOS, Monero [XMR], IOTA [MIOTA], DASH and Vechain [VET] amongst the top 20 coins in the cryptocurrency market.
This is the exact moment the whole Tron community was awaiting along with the TVM launch and more insight on Project Atlas.
The Tron Foundation has been working towards improving the Tron ecosystem. The Foundation’s main aim has been to ‘Decentralize the Web’. Also, Tron has acquired BitTorrent, the biggest torrent platform in the world.
The use case of BitTorrent has also been pointed out by Satoshi Nakamoto, the creator of Bitcoin [BTC]. Satoshi had mentioned it as an example in one of his Bitcoin mailing list and the same is now visible on the BitTorrent Project Atlas web portal. Even Charles Hoskinson, the Founder of Cardano and IOHK spoke about the use case of BitTorrent. He stated that BitTorrent is one of the examples for scaling protocol.
The Project Atlas was released in order to integrate BitTorrent and Tron. The main agenda of the project is to the increase the lifespan of the torrent swarms and make it faster. The integration is going to add on to the payment and settlement of the online content on a global level. Moreover, the project will not be associated with mining projects and users will have to interact with each other with the resources provided to them.
Moreover, Justin Sun claims that Tron will surpass Ethereum. The TVM which was launched by the platform is completely compatible with Ethereum’s Virtual Machine. The features of the Virtual Machine is going to be launched by the 27 elected Super Representatives.
To launch the feature of the TVM, a SR will have to first make the proposal which will have to have the signature of all the SRs. This will then require the vote from 2/3rd of the Super Representatives for the proposal to be considered valid otherwise it will be considered invalid. According to the Foundation, these Representatives will be representing the community has a whole.