Sifting Through the Tron Hard Fork Ashes: How the TRX Network’s Updates and Changes Transpired
Tron (TRX), one of the largest digital currencies in the market has launched a new hard fork on February 28. The date is the same as when Ethereum (ETH) implemented the Constantinople hard fork. Ethereum is also a competitor for Tron and EOS.
The new upgrade for the Tron network is called Odyssey 3.5 and it includes several new features. For example, it implemented the multi-signature feature and new account management options and performance improvements as well.
According to a new document released by the Tron Foundation, each transaction created in an account will be requiring authorization by a permission account. Moreover, the transactions will also require a signature from the accounts. This is very important for Tron and the crypto community because it creates the necessary things for institutional investors to enter the market.
The network has also included a dynamic energy adjustment that would improve the performance of the Tron network as much as 50%. It also allows for a virtual machine safety and events server for decentralized applications.
During a Telegram-based AMA (Ask me Anything), Justin Sun commented:
“This MainNet upgrade is a significant one for TRON since last December. Previous upgrades were mainly for setting up the network, while this upgrade is the first major improvement of the network performance.”
The Multi-Signature implementation is very important for institutional investors because they will be able to manage their wallets with other interested parties. Companies can implement different security procedures allowing them to operate securely.
At the time of writing this article, TRON is being traded around $0.022 and it has a market capitalization of $1.52 billion. In this way, TRON became the 10th largest cryptocurrency in the space. It has a larger capitalization than other cryptos such as Monero (XMR), IOTA (MIOTA) or Bitcoin SV (BSV).