Tron’s “institutional” hard fork will take place on February 28
Blockchain startup Tron founder Justin Sun this Sunday announced an upcoming hard fork on February 28 and will update the cryptocurrency protocol to version 3.5.
Together with the update, Tron will bring new multisignature and account management capabilities targeted at institutional users.
“Multi-signatures, account management and storage are the top three requirements for companies. We have received numerous inquiries lately from hedge funds, professional investors, and financial institutions. We are ready with update 3.5 and cooperation with BitGo! ” Sun wrote, referring to the recent announcement of the crypto custody service BitGo, which intends to add TRX support later this year.
Among other improvements, Sun mentioned “dynamically adjusting power according to network performance in real time”, improving performance and resource utilization by 50%, and improving virtual machine security and event server for decentralized applications..
TRX, which stayed away from the Saturday pump of the crypto market, climbed 5% amid this announcement.
Last October, Sun announced that the Tron update at the time would make the cryptocurrency network 200 times faster than Ethereum and 100 times cheaper than EOS..
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