February 25, 2019, | AtoZ Markets - Tron, one of the most successful growing platforms for developing decentralized applications (dApps), is ready to upgrade to version 3.5. According to Justin Sun, the founder of TRX, the Tron hard fork will occur on the end of February. Will this help TRON become a stellar cryptocurrency?
Details of Tron Hard Fork 3.5
Experts believe that Tron can eventually overtake the blockchain market and beat Ethereum. At the moment, the company Tron (TRX), is the 9th largest blockchain-based platform in the market with a $1,591,567,165 USD market cap. The company announced the imminent launch of a rigid plug of its network with four new features that might contribute to the struggle for a decentralized Internet.
What can investors expect after the Tron Hard Fork? The new features after the 3.5 updates include:
- Multi-sig and account management, institution ready.
- Dynamic energy tuning in real-time network performance.
- 50% increased productivity and resource utilization.
- Better VM security, event server for Dapps.
The upcoming Tron hard fork were announced by its founder and CEO Justin Sun, who did this through his Twitter:
According to the latest tweet of Justin Sun, the Tron upgrade is scheduled for February 28, 2019. This announcement caused a great number of reactions from Reddit and Twitter users, most comments were positive, such like the ones below:
Thus, a number of comments on Reddit were less positive. Since most of the holders of TRX were concerned whether the upcoming changes will affect the Tron price. However, a user under the nick beeshavekneestoo tried to clarify and calm down the platform users, by saying the following:
“It’s funny every time I hop in a thread with news like this, the first comment is always about what the price of TRX did today. Relax on price guys, this is a great update, the features Justin is talking about adding are important and he gave a hard date for the upgrade not some “in the near future.” Tron has been steadily marching forward and I’m still impressed by Justin and Tron's ability to hit self-imposed deadlines and milestone dates. As far as price is concerned I haven’t checked it in months. I’ve instead been in the telegram and testing out and using dapps, learning some solidity and actually trying to use the network. I understand people want to talk price all the time but it must be tedious even for those people, I certainly find it tedious anyway.”
Another Reddit user, although, has given a hint how the upgrade of Tron might affect the TRX price, by mentioning the well-known trading strategy: "Buy the hype, sell the News".
“Technically, this announcement is news which will eventually create hype. So if we follow the "Buy the hype, sell the News" rule, the selloff should come right now, and then build up slowly over time as the hype grows. Then a big sell off right before the hard fork…” the Reddit user concluded.
What Are the New Features of Tron 3.5 Upgrade?
In one of his recent tweets, Justin Sun explained why the upcoming hard fork 3.5 update is a basic requirement for the company.
An update with multi signatures(multi-sig) implies that the blockchain network requires more than one authorization of data transfer verification. Which in turn, increases the security of the blockchain when performing transactions. Since the usual bitcoin transaction uses a single signature, the development of the new Tron feature will allow this project to step ahead of bitcoin in the crypto market. Last month, TRON developers have launched the BitTorrent (BTT) token via Binance Launchpad. Justin Sun commented that the update, combined with the collaboration with BitGo, will make Tron ready for any challenge.
What is the Dynamic energy management? In simple terms, this is a system designed to regulate energy, depending on what is required on the demand side. This approach improves energy efficiency in the blockchain network. While large power consumption is one of the main problems of blockchain technology, the introduction of this new feature will help Tron (TRX) optimize power consumption.
In the recent interview of Elon Musk, which AtoZ Markets covered, the founder of SpaceX noted that one of the important reasons that Tesla will not engage in crypto-business is the high energy consumption of technologies, which denies the company's vision.
How Tron's Hard Fork will Benefit Blockchain Projects?
Obviously, most blockchain projects want to increase their efficiency in order to improve the services they provide. Sun noted that the upcoming hard fork update will include an increase in blockchain performance by 50%.
To provide a dedicated blockchain system that is convenient, stable, safe, efficient and scalable for developers, Tron (TRX) decided to create a Tron virtual machine in its ecosystem. Also, the company wants to create a more secure virtual machine for developers, as well as an event server for dApps. Creating a more secure virtual machine and event server for dApps is definitely a pen on the cover of the blockchain. It seems like Tron network (TRX), in combination with BitTorrent and some other first-class functions of the blockchain, Tron (TRX) has more chances in gaining more users attention and as a result; profits.
What do you think? Let us know in the comments section below.