In one of the most recent announcements from the socially active CEO of TRON, Justin Sun, it was stressed that the network will update to the new version of Odyssey, alongside with the TRON Committee function and Tron Virtual Machine going live on October 8th, 2018.
The agreement on updating to the version 3.1 of Odyssey was reached within the community consensus, and it is entirely designed to officially bring TRON foundation and its network to the new era of decentralization through smart contract utilization.
With the new updates, there come new improvements that should affect TRON as well as TRX in the most positive way possible, so here is what version Odyssey 3.1 should bring to TRON network and Tronics.
Taking Off to the New Smart Contract Era with Odyssey 3.1
As with the latest announcement provided by the CEO of TRON foundation, Justin Sun, we have had the opportunity to learn more about the decentralized future of TRON network and TRX in the sense of smart contract utilization.
Previously, Justin Sun on the head of the foundation already released Tron Virtual Machine on August 31st during a live presentation where he also presented a new project called Project Atlas.
While Project Atlas should assure the increased decentralization while promoting BitTorrent and TRON partnership with the presented program for incentivizing seeders with TRX in exchange for faster download bandwidth.
Now, TRON is focusing on another major leap into a brighter and more prominent future of TRON project by announcing the update to version 3.1 of Odyssey that was achieved with the general community consensus.
As Sun stated, the new update should introduce the overall better performance of the network regarding smart contract operations, stressing the fact that the new update should be most appealing to the users and developers of decentralized applications.
The way the new update will affect TRON is through offering better and more benevolent conditions for the development of Dapps on TRON network as Tron Virtual Machine will also be activated within the update 3.1.
Sun stated regarding the changes that the new version will bring to the network are to be reflected on the price and speed of development of decentralized applications. On this occasion, he used the comparison between TRON network and Ethereum and EOS.
Further, in his announcement, he added that the new update will most certainly make TRON 200 times faster than Ethereum, which already has obvious issues regarding its network scalability, as well 100 times cheaper in comparison to EOS network, which is known as one of the major competitors for Ethereum in the terms of Dapp development.
Currently, the cost of managing a Dapp on EOS network is said to be up to 10,000$ on the annual level for apps that are able to process a single transaction in a second, making it not as available to Dapp developers that do not have enough monetary means for this kind of venture.
Moreover, the speed of utilizing real-time Dapps is said to be compromised on Ethereum network due to the well-known fact that ETH network is having some serious scalability issues that ought to be resolved in the near future as the team on the head with Vitalik Buterin is currently going through some possible solutions with Plasma technology and Sharding developed by Zilliqa (ZIL).
With the new update, TRON network is said to be able to provide a more efficient ecosystem for Dapp creation and development, also allowing the transfer of Dapps that are currently hosted on Ethereum, to TRON network through Tron Virtual Machine.
The effects of the new update are already reflecting on TRX as the currency spiked up by around 12% in the period of the last 10 hours on October 8th when the update to the new system version is scheduled.
Furthermore, TRON could reach the top 10 list with the latest updates to the network by the beginning of 2019, while more roadmap milestones are waiting to be completed by the end of 2018 and the beginning of Q1 of 2019.
BITGUILD to Organize a Massive TRX airdrop
As BITGUILD was announced as one of the elected Super Representatives of the TRON network, to honor this achievement, BITGUILD will be organizing a massive airdrop of TRX units.
Although the gaming portal was elected for the SR position on September 30th, the exact date of the airdrop that will include 5,000,000 TRX is yet to be released.
