Tron (TRX), the blockchain and dapp development platform, ranked 9th-largest cryptocurrency by market capitalization, is undergoing a major hard fork that will include multiple upgrades on February 28, 2019.
The upgrade is dubbed the 3.5 hard fork and will include major performance features and improvements including multi-signature, account management, and custody protocols.
Justin Sun, the founder of Tron and CEO of the Tron Foundation, announced the upgrade and its entailing upgrades via Twitter:
#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 (TRX) Hard Fork Is Necessary for Institutional Investment
According to Sun, the Tron Foundation has received numerous demands from hedge funds, mainstream investors, and financial institutions.
The 3.5 hard fork purportedly fills these demands by including 3 key improvements: multi-signature, account management, and custody protocols, which are necessary for institutional investment.
Explaining the reasoning for the hard fork, Sun responded to his prior tweet:
Multi-sig, acct mng and custody are three major requirements from institution. Recently we have received numerous demands from hedge funds, mainstream investors and financial institution. With 3.5 upgrade and the partnership with @BitGo, #TRON is ready! #TRX $TRX https://t.co/w95p3Jy4tN
— Justin Sun (@justinsuntron) February 24, 2019
Tron (TRX) Price Performance
Per the announcement of the 3.5 hard fork, the price of Tron (TRX) has reacted positively, seeing a 1-day gain of over 8% from $0.024 to $0.027 on February 24. However, the gains have since subsided and are again hovering around the $0.024 price range.
Will institutional investors take a liking to Tron (TRX) with its new features and protocol improvements included in the 3.5 hard fork? Let us know what you think in the comment section below.
