TRON Hard Fork Coming Soon! Will TRX Rise or Fall?
TRON’s CEO Justin Sun announced that his platform will be adding a group of upgrades this week. A TRON hard fork will take place on February 28th and will add four new features.
#TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go! #TRX $TRX
— Justin Sun (@justinsuntron) February 24, 2019
TRON hopes the new set of upgrades will up its appeal to institutional users—a growing trend in the cryptocurrency space. Odyssey 3.5 will include new features such as account management and multi-signatures that will boost the security of blockchain transactions on the platform. The second upgrade will focus on the dynamic energy management system, which seeks to improve TRON’s blockchain efficiency.
Many of the Proof-of-Work (PoW) systems like Bitcoin consume a lot of energy and TRON seeks to streamline its network performance to avoid this. This upgrade also seeks to manage the network’s energy more efficiently.
The new upgrade focuses on the performance of the TRON Network. Odyssey 3.5 is said by Sun to improve the network’s performance by 50%. Since its birth, TRON has outperformed many of its competitors by transaction speeds. However, Sun’s tweet is extremely vague and gives little to no information on how this will be done. Even TRON’s official Twitter hasn’t released any news on the hard fork.
Lastly, the TRON Virtual Machine will get an upgrade. The co-founder states that it will receive ‘better’ safety, but no details have been provided at this time. It’s unknown if the project plans on releasing a full report of the upgrade before the hard fork takes place.
According to CoinMarketCap, TRX is currently the ninth-largest digital currency. At the time of writing, the digital currency is trading at $0.024 a coin, up 1.57% in 24 hours. The news of the TRON upgrades has barely affected the price of the digital currency. Are TRON enthusiasts waiting until they receive more information on the hard fork before taking action?
What do you think?
Featured Image: Twitter