Hello everyone, I’m Lucien, CTO of TRON. It’s been over a month since we last met. In the past month, my colleagues and I have been busy with TVM development, token migration, technical integration with exchanges and most importantly, building a DApp ecosystem. Today we launched TVM, which is a historic moment for TRON, for this is a new chapter of our DApp ecosystem. TVM is compatible with EVM, and allows DApp developers on EVM to migrate to TVM, almost for free. Our tech director of public chain Marcus will go into details later. Now I will briefly introduce the progress of the DApp ecosystem and that of exchanges’ token migration.
First I would like to say a few things about the DApp ecosystem. We all know that in order for the developers to work on DApps, things like efficient, user-friendly developing tools, documents, and tutorials etc. serve as some of the most important prerequisites. Ethererum has spent a lot of time on these fronts, and we want to make sure that we do a good job on these, too. Only a well-rounded environment will attract more developers, which is why we’ve been focusing on tools, documents, and tutorials. We have divided the tools into three parts. The first one is development tools; the second one is engine tools, and the third one is third party tools.
For developers’ tool, a user would need tronweb (a TRON equivalent for Ethererum’s web3.js), tronlink (which is similar to Ethereum’s metamask), trontruffle (also similar to truffle), and tronremix (TRON’s version of remix) to develop an entire DApp. Yet truffle and remix have their pros and cons. We are combining the features of these two into one to make things easier for our developers. The other thing is tronscan, TRON’s block chain browser. It’s similar to etherscan.io. We also have tronganache, similar to ganache. In addition, we added a feature called local block explorer which enables developers to test on a virtual local setting more easily.
The above are the basic tools we have for DApp developers, and we will also provide 20 different types of game templates so the developers could refer to them, and easily create a DApp of their own. Detailed documents and tutorials will be provided as well, to help developers learn how to develop a DApp quickly with the tools.
In conclusion, by providing easy-to-use tools and various templates, plus detailed documents and tutorials, we are able to empower our users to develop popular games like fomo3D.
The second part is engine tool. We know that most games on Ethereum now are web games with limited DAU. The most popular ones now, as many users may know, are h5 and app games, and they have the most DAU. Of course, these games are very complicated, as they are developed based on game engines.
We will work with engine suppliers to work on developing engines and public chain SDK. That way developers will be able to develop more complex games, or settle the payment after each game or each day to prevent TPS from being too high.
Moving on, this will be one of our priorities, to differentiate ourselves from Ethereum. Developers will be able create more sizable games based on TRON, which will further expand our DApp ecosystem.
The third tool is 3rd party tool, Take Loom Network as an example, which is a side chain able to carry some of the data from the Ethereum MainNet. It’s mostly applied in games and social apps. It is very popular among developers, because they provide a user-friendly API interface that allows the users to develop new projects more easily.
We will also reach out to Loom Network and try to work out a TRON loom network for more convenient DApp development.
Of course, with all these tools, we will still hold various events to encourage more developers to join our community, in order to build a robust and sustainable TRON ecosystem.
It takes time for a system to grow and evolve, which is why we welcome all kinds of suggestions from the developers of TRON, because your suggestions will motivate us to improve our network, making it a better place for everyone.
What I’d like to emphasize is that our tech department is relatively new and still growing. We’ve hired former engineers from Google and Facebook. There are very senior DApp developers. I believe that as our team grows, we can better engage developers by providing more targeted trouble shooting and more enhanced infrastructure.
That’s it for the progress of our DApp ecosystem.
Next, I will talk about our token migration with exchanges. TRON launched its MainNet on Jun.25th, and the most important thing to do after MainNet launch is the technical integration with exchanges. So far, 40 exchanges including Binance, Huobi, ok, Gate.io, Bittrex provide deposit and withdrawal services. This picture presents a list of these exchanges.
Currently, we have burned about 92 BILLION ERC20 tokens, 92.42% of the total, which means that 92.42% of the tokens in the exchanges are now the new MainNet tokens. Users are now able to withdraw MainNet tokens from the exchanges to vote for SR and realize other operations.
7.58% of the tokens remain as ERC20 tokens, which are still held by users and part of the exchanges. We divide these ERC20 tokens into two parts: on the one hand, exchanges like Bithumb still supports ERC20 tokens; on the other hand, users can also use the old tokens at exchanges like Binance and Gate.io. It’s like depositing the ERC20 tokens into these exchanges, and they will give the users MainNet tokens.
So my part is done. Now let’s welcome Marcus to update us on MainNet launch and recent development progress.
Hi, everyone. This is Marcus.
This is the RoadMap that we released at our last livestream. Following this RoadMap, I will fill you in on our progress, as well as the projects in our pipeline. I’m happy to say that all of our development work is going according to our plans.
On May 31, we released Odyssey 2.0. On Jun 25, we launched our MainNet successfully. Currently, the MainNet has produced 1 million blocks, and it’s very stable. Today we are going to release Odyssey 3.0. Our TVM team, mechanism team and testing team have worked really hard for about 2 months to make this happen.
We will communicate with the SRs between July 31 to August 31. After we reach a consensus, the entire network will be upgraded to a new version. I’m going to introduce it in 4 parts: 1) Operation of the MainNet; 2) Features of Odyssey 3.0. 3) Specifics of the TVM and its ecosystem; 4) Progress of the database.
Operation of the MainNet
The MainNet has been operating smoothly since its launch on Jun 25. Currently, it has produced 1 million blocks; 14 SRs from the US, China, Great Britain, South Africa and other parts of the world have been elected. In addition, we’ve issued more than 200 tokens on the MainNet, and have completed the technical integration with 50+ exchanges. This has been a very smooth and successful launch.
And we’ve designed a detailed super node deployment solution, which has been shared with the community.
This picture will give you a brief idea of the solution.
Introduction to the features of Odyssey 3.0.
1. Our core development is the TVM framework.
2. In addition, we’ve introduced a committee mechanism. Now dozens of parameters can be set in a decentralized manner. TRON is now able to run more stably through the commission mechanism.
3. On top of that, we’ve designed a new resource manager to improve the deployment and management of TRON’s CPU, Ram and Storage.
4. As for the exchange market, we’ve added the feature of resource exchange, to make the price of resources more reasonable.
5. The TRON-database, which has been optimized since the release of the MainNet, is more practical and relevant to the blockchain field, and therefore can provide better performance overall.
Introduction to the TVM
1. First of all, we’ve implemented the TVM framework, under which we could not only port EVM to TRON, but also other VMs. The framework is now compatible with EVM, and can provide a faster speed and lower utility costs.
2. On the VM side, we have two goals: 1. To optimize the compiler, which is very challenging, yet very important. The optimization will allow the code to execute faster with higher efficiency, and thus consume less resource. 2. To Optimize instruction set, through which users can easily perform voting, freezing, trading and other functions in the smart contract. Additionally, we’ve also embedded the resource manager in the VM, which helps to improve resource deployment.
Last but not least, let me introduce our TRON database. After a month’s development, the architecture group has implemented a new blockchain database, which has many advantages. It helps to reduce IO by more than 50%. It also supports abnormal data recovery and breakpoint continuation. It also enables the snapshort feature.
An Open Letter to the Community on TVM Beta Launch
It’s been over a month since TRON‘s Independence day on June 25th. Now we’ve reached yet another milestone: TRON virtual machine beta version is officially launched today!
Starting from day one, we have been striving for becoming the best in the industry. With the hard work and perseverance of the entire TRON team, I am proud to say that TRON network is now stronger than ever.
TRON MainNet was activated by TRON Independent Group on June 25th, SGT. Currently, 15 of the first 27 Genesis Representatives are replaced by 15 community Super Representatives (Team Tronics, Skypeople, Sesameseed, GryptoGirls, TrxDexCom, CryptoGuyInZA, Tronstronics.com, CryptoDiva, Justin Sun, uTorrent, CryptoChain, TronOne, MLG-Global, BitTorrent, Lianjinshu). During this election, we had more than 70 participating SR candidates, reflecting the democratic and autonomous nature of TRON community.
TRON MainNet has been running smoothly. As of July 30th, 2018 SGT, the block height reached 1,005,756 (over 1 Million) we will have a little celebration for this later, the peak number of single day transaction marked 49,518, global nodes reached 362 and total number of account address was 74,112.
More than 40 mainstream exchanges including Binance, Bittrex, Bitfinex, Upbit, Huobi and OKEx have completed the token migration from ERC20 token to TRON’s TRX without any financial loss of the user;
We’ve destroyed more than 92 billion, 424 million, 664 thousand, 154 ERC20 tokens, 92.42% of the total. Before we completed the migration, the remaining ERC20 tokens will still remain valid for exchange at Binance and Gate.io;
BitMEX, one of the most prestigious digital asset futures exchange, launched TRX contract. Meanwhile, Chargelly added a brand new credit card option for TRX purchase, which means the market potentials of TRX are being further acknowledged;
Mainstream wallets like FreeWallet and Ledger now support TRX, bringing better user experience to our TRX holders;
TRON is also working with PornHub, which will provide more extensive application scenarios for TRON’s technologies;
Most importantly, TRON completed its acquisition of BitTorrent, the leading player in P2P industry with the most pervasive P2P downloading network. BitTorrent provides top-notch downloading services for more than one billion users from 138 countries. The acquisition enables TRON and BitTorrent to become the largest decentralized ecosystem in the world.
Today, we launched the beta version of TVM. In the following month, TVM will be tested by all the TRON community members. On August 30th SGT, TRON will complete its MainNet upgrade and launch the official version of TVM.
TVM is completely compatible with Ethereum, only faster and more affordable. Developers are able to use mainstream developing tools such as Remix, Truffle, and Web3.js, as well as wallet extension of the browser to create DApps based on TRON network.
Next month, TRON will provide a sandbox for its global community to test the VM and find bugs. Then, according to the feedbacks received, TRON will initiate a voting campaign among SRs, while adjusting the beta version. After reaching a consensus, all SRs of the community will start the upgrade program of TVM.
The official version of TVM, which will be launched on August 30th, is going to be more stable, more secure and equipped with optimized compile and instruction set. The ecosystem, including development tools, developing teams and game engine development, will eventually bring about a more efficient and more user-friendly virtual machine with higher performance.
Finally, I’d like to say a few things about our Project Atlas after the BitTorrent acquisition:
We’ve completed initial team building and has set up a development plan for the next three months. We will reveal further details by the end of August.
Currently, we are exploring the possibility of using the TRON protocol to improve the BitTorrent protocol, in order to make BitTorrent protocol faster and lengthen the lifespan of BitTorrent swarms. I hope the integration of TRON and BitTorrent will allow both parties to work better as one in the future.
By integrating the TRON network into Bittorrent, we aim to improve on the currently existing altruism. At this point, there are no incentives for peers who have completed downloading to continue to seed. We intend to extend rewards to peers who seed torrents, infusing more resources into the torrent ecosystem.
The TRON network will serve as the underlying protocol of the Project Atlas. Hundreds of millions of BT users across the globe will become a part of the TRON ecosystem. BT will be the largest application on the TRON network, which will allow TRON surpass Ethereum on daily transactions and become the most influential public blockchain in the world.
The integration of BitTorrent and TRON will offer new possibilities to global payment and settlement of online content. The creators of this content could reach hundreds of millions of global users through this decentralized network without any intermediaries.
Various industries will be significantly affected by these changes.
Project Atlas will not associate itself with any mining projects, nor will it have any negative impact on BT user experience. For BT users, Project Atlas is only going to strengthen the current BT protocol and make it stronger and more competent.
Starting from today, TRON will enter the new phase of expanding our current ecosystem. We are grateful for what we have achieved in the past, and we are looking forward to seeing what the future holds for us.
TRON to the future!
– Justin Sun
July 30th, 2018