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Tron (TRX) Enters Digital Democratic Era: Virtual Machine Alongside New Lottery Draw

More hopes await Tron (TRX) in the cryptoverse as the timeline of the altcoin is filled with sundry of colossal developments.

While the Cryptocurrency has for some time been perfecting its Super Representative election to create an independent governance in its ecosystem, today, Justin Sun congratulated the 27 newly elected Super Representative, adding that Tron is ready and set for democracy as the new era arrives.

“Congratulations to all the 27 #TRONSRs, now we are in constitutional phase (after SRs replace GRs. Officially online),” Sun said.

A lover of the Cryptocurrency, Misha Lederman in response to the news stated that the completion of the election is surely a huge milestone for Tron as “7+ billion $TRX are frozen by TRX community to be part of #TRONSR voting every six hours to elect groups, individuals & entities who run the #TRX blockchain”

Lederman added that more breakthrough awaits Tron, pointing that the community has 9 Days until Tron Virtual Machine Launch.

Forthcoming Tron Virtual Machine And New Lottery Draw

Justin Sun today announced that there will be a live stream of the TVM launch come August 30 where the full implementation of the virtual machine will be made available.

In addendum to the previous developments of the altcoin, the founder of Tron said on the day of the TVM launch, there will be a lottery draw.

“#TRON virtual machine launch event. Blockchain the global ecosystem, #TRON to the future. Please wait for the live stream on 10:30am, August 30 (SGT), there will also be a lottery draw, see you there”, Sun averred.

The Virtual machine entered its beta stage after a successful trial launch on June 25. In an interview, Sun said although the team has successfully equipped the launch of the TVM, but they are trying to clarify and make sure that things work out well when launched.

Coupled with the fact that the MainNet was launched about two months ago, the team wants to make sure that it is ready to withstand the TVM, Sun added.

The Founder of Tron had earlier boasted that the virtual machine which is more like a tool for developers will help promote the efficiency of the blockchain technology and its activities in the crypto space.

Not the end, Tron, according to an announcement is now available for trade on one of the biggest Cryptocurrency exchange platform, Coinswitch. It is now clear that Tron’s way beyond the moon is open and going to be smooth.

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Tron (TRX) Price Analysis: Key Levels to Watch

Tron has been trading inside a range visible on the short-term time frames, and a break lower could lead to a drop to the next one visible on the daily chart.

Price has been trading below the 100 SMA on this time frame also, indicating that selling pressure is in play. A break below support could lead to a selloff that’s the same height as the current range, which spans 0.0330 to 0.0400.

RSI is still heading lower and might have some room to go before hitting oversold levels. This suggests that sellers could stay in control for a bit longer and might have enough energy to push for a test of the next support around 0.0280.

Stochastic is also pointing down but approaching oversold territory, so sellers might need to take a break soon. If the oscillators start turning back up, buying pressure could return and lead to a move back to the resistance levels again.

Investors seem unimpressed by the latest set of announcements from Tron, such as their plans for the BitTorrent acquisition and the launch of the virtual machine. Either that or the enthusiasm might keep fading until another set of updates are announced.

Still, it’s worth keeping tabs on their Project Atlas, which integrates the BitTorrent platform with Tron’s protocol in order to incentivize digital content creators and seeding. According to founder Justin Sun, this is in keeping with their ultimate goal to decentralize the internet using Tron.

Meanwhile, the virtual machine has been created as a Turing complete VM that aids in the expansion of the Tron platform. This will be fully compatible with Ethereum to add efficiency while reducing costs and tariffs. The more stable and final version of the VM will be released on August 30 and offer more stability and security to users, so this should give investors something to look forward to.

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