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The Awesome Tron

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Wed, 02/13/2019 - 13:07
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  • Tron’s planned move to WebAssembly support is awesome because it promises explosive adoption growth

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Contents

The title may as well read Awasmsome Tron or aWasmsome Tron, but that would be clunky, and Tron's planned move to Wasm is awesome, so there it is.

Confused? Read on, it all aligns beautifully.

What is Wasm

First, some background on Wasm. Wasm is WebAssembly, a standard designed to be a compilation target for any language and a binary format with the goal of near-native performance for web apps.

That Wasm is a compilation target for any language means that the idea is for Wasm to become the common meeting ground for all developers. And Wasm moving there fast. There's a curated list of languages that compile to Wasm on GitHub, and the progress is nothing to sneeze at.

That Wasm is the format targeting near-native performance for web applications means that whenever you go on the Internet to run an application in your web browser, the chances are the majority of them are going to be in Wasm in the nearest future. This is especially true for online gaming because it requires the highest number of interaction that relies on your input and performance.

See, whenever you run an app in your browser, your browser downloads the app's code from the server and loads it into the browser's virtual machine, and this where you interact with the app. This also means that the virtual machine of your browser must be able to load and run Wasm.

Well, here's the thing — Wasm is supported and contributed to by Mozilla, Microsoft, Google, and Apple.

And as noted earlier, many developer languages already compile to Wasm, and the list is growing. There's great Wasm support in the developer community.

On blockchain

So, your browser loads Wasm code into its virtual machine and runs it. You know what else does that? A decentralized world computer like Ethereum.

Ethereum has the Ethereum Virtual Machine (EVM) that runs the code. To compile into the code that the EVM understands and executes, a developer needs to write the dapp in Solidity. There is also the language called LLL, which is less popular, and Vyper, but Solidity is the one majorly used.

This creates a bottleneck for developer adoption. A developer needs to get comfortable with Solidity before they can code and launch a dapp.

There's an initiative in Ethereum called eWasm that aims to replace the current EVM with an eWasm virtual machine. eWasm is basically Wasm and offers greater and improved performance over the current EVM architecture. Not only that, but adopting Wasm in Ethereum would open the floodgates to developer adoption because any developer would be able to write a dapp in any language they are comfortable with and compile to a dapp.

To quote Lane Rettig, one of eWasm core developers:

I have a personal goal of getting a million or millions of developers building Ethereum smart contract ... Wasm is an important step forward, it's a massive massive massive increase in optionality for developers, they can develop using different languages, different compilers, they can develop their own languages, their own DSLs [domain-specific languages], none of which are really possible in Ethereum 1.0 today.

Wasm Tron on blockchain

While Ethereum has an EVM, Tron has a TVM — a Tron Virtual Machine. And Tron is planning a move to Wasm as well.

To quote the Tron documentation:

Tron is planning to further optimize its TVM based on WebAssembly (WASM). WebAssembly, spearheaded by Apple, Google, Microsoft, and Mozilla, is designed to break bottlenecks of current Web browsers and can be generated through compiling C/C++ and other programming languages. Integrating WASM, TVM will be able to provide high performance and high throughput for blockchain to cope with complex scenarios.

Tron's move to Wasm is a smart foresight that can prove explosive in both developer and user adoption numbers. The former clearly evidenced by Tron investing in developer acceleration programs, the first of which concluded in January 2019.

One other extremely important thing that must be factored in this move and that will play out in Tron's favor is that Tron's blockchain is a variation of dPoS. This means that the move to a Wasm-based virtual machine will have far fewer obstacles (if any at all) than it would for projects like Ethereum.

So, to reiterate, consider this:

  • Wasm is supported by the software and the Internet's major players — Mozilla, Microsoft, Google, and Apple.

  • Millions of developers comfortable with their languages will be able to compile to Wasm-based virtual machines.

  • Wasm is on its path to becoming the common meeting ground for the majority of languages.

What else is there?

Wasm is becoming the technical backbone for how people develop and interact with applications in this vast digital space that will also be relying on blockchain. And this is awesome.

Is there anything else? People use the technology to rely on in their interaction and the social layer — and decentralized reputation, in particular — must play an important role in the adoption. Dapps running on blockchain and Wasm provide execution transparency, decentralization, and trust, but people create the dapps, and people use the dapps, this is where reputation matters the most. Network members must be able to use their decentralized transparent influence score based on their contributions to the network. This will enable the network health to run not only on dapp developers and dapp consumers but on every network member and make the network autonomous and self-governing.

Projects like U°OS network and U°Community are filling this gap along with Wasm adoption.

Time will tell, but right now Wasm does look primed for its own round of awesomeness in the blockchain space.

About the author

Evgeny Konstantinov (aka Ake Gaviar) is a decentralist, working with open source projects and communities.

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Sat, 03/28/2020 - 18:45
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  • Crypto investors do not see an alt season coming for many months ahead, as the crypto market corrects.

Cover image via stock.adobe.com
Contents

As the bitcoin price fails to see upside momentum, the crypto market is at risk of a deeper pullback in the short-term. While the bitcoin price sustained the $6,000 level for an extended period of time, altcoins have continued to see more downside.

Well-known trader DonAlt said:

“BTC looks like it could go up, down or sideways. Alts look like they could go down, down or down.”

The bitcoin price has been on a decline as of late primarily due to the drop in appetite for high-risk assets. Altcoins present additional risk, which investors are seemingly unwilling to take.

Altcoins seem battered, as crypto market loses tens of billions of dollars

Since March 7, within about three weeks, the valuation of the crypto market has dropped from $264 billion to $175 billion, by around $89 billion.

Consequently, altcoins underperformed against both the USD and bitcoin, as investors flocked to stablecoins like Tether.

After the overnight 5 percent drop in the bitcoin price, technical analysts foresee a steep drop ahead for bitcoin in the near-term. Strong support levels for bitcoin are found at $5,800 and $5,250, according to crypto trader Michael van de Poppe.

Poppe said:

“Brokedown after a distribution pattern and clear rejection of the $6,900 area. On the first support around $6,000-6,100 here. Might be testing $6,400 before continuing to drop, primary level for support is $5,800 and more heavily the $5,250 area.”

The altcoin index perpetual futures on FTX indicates a massive 56 percent drop in the altcoin market within merely 43 days, dropping to levels unseen since 2017.

The altcoin index perpetual futures on FTX drop as crypto market slumps
Source: TradingView.com

Market is exhausted

Similar to the U.S. stock market, based on the performance of altcoins in the past two weeks, it is highly unlikely that the altcoin market sees the so-called “alt season” until the global economy rebounds from the economic consequences of the coronavirus pandemic.

There is a clear lack of buy orders and buying demand across all exchanges and assets within the crypto market, increasing the probability of a larger correction to hit the entire asset class in the near-term.

As financial analyst Koroush AK said:

“Most businesses and individuals still have 1/2 months runway. Assuming handling the virus lasts several months not several weeks. Let's see how many want to be holding, let alone buying, bitcoin when struggling to pay bills and put food on the table.”

The low cash buffer of small businesses, which on average is estimated to be 29 days, leaves the U.S. and European economies at risk of continuous decline in the first half of 2020.

About the author

Joseph Young is an analyst based in South Korea that has been covering finance, fintech, and cryptocurrency since 2013. He has worked with various recognized publications in both the finance and cryptocurrency industries.

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