Tron, one of the largest blockchain-based platforms and owner of BitTorrent, will launch hard fork 3.5 on February 28th.
Justin Sun, Tron CEO, has confirmed the news on social media that the hard fork will include Institution-friendly features. Other features such as multi-signature and account management capabilities will also be part of the hard fork.
Tron, a competitor to Ethereum (ETH), is preparing to enhance its demand for institutional users. Upgrading the blockchain to suit institutional investors seems like a logical step to attract this category of investors to add Tron to their portfolios.
The multi-signature and account management features will bring more security for blockchain activities. These features are most suited for institutions who have multiple personnel managing their crypto investments. According to Justin, with this 3.5 upgrade and partnership with BitGo, Tron is ready for institutional involvement.
Another feature of the upcoming hard fork is the ‘dynamic energy system’ which is particularly designed to improve the blockchain efficiency. Energy consumption is a huge concern for the blockchain and Tron addressing this by streamlining the network performance (expected to be up by 50%) and resource management.
Tron, by far, has outperformed ETH as far as transaction speed is concerned. This planned hard fork will make it even better, however, there were no specifics on how this would be achieved.
Over the past week, TRX has remained stable despite the huge market wide pump and dump. In 2019, TRX has been one of the top performing altcoins with a gain of 30% since January. This week’s hard fork and network upgrade is likely to push prices even higher for TRX.