TRON Foundation (TRX)’s CEO Justin Sun announced the long-awaited 3.5 upgrade of their blockchain, which will take place on February 28th.
The backward incompatible update, commonly known as a hard fork, will deliver a massive array of innovations, the most significant being multi-signature wallets, institutional readiness, and improved overall security. Sun added that TRON would see dynamic energy adjustment upgrades, as well as better VM safety and even an events server for DApps.
Maybe the most critical update in the 3.5 hard fork is the utilization of multi-signature wallets. The feature allows multiple users to sign a transaction before it reaches the blockchain, thus – increased security.
The other significant feature is the newly-established events server for DApps. TRON has become a leader in hosting DApps. And while most of the DApps are still in their early days, TRON is building upon its portfolio of tools to help the ecosystem.
The network performance boost in the 3.5 upgrade is stated to be at least 50% more effective and achieve better transaction rates and faster transaction speed.
TRON (TRX) is processing over 1,5 million transactions per day with close to 2 million accounts on its networks. With the 3.5 upgrade, Sun believes users can do more, do it faster and with better security.
With $1,6 billion in total market capitalization, TRON ranks in at #9 in the Cryptobrowser.io top 100 charts based on market cap. Trading volumes have spiked today, most probably due to the news of the hard fork. However, TRON also is suffering from the bearish trend of the market in the last 24 hours. As of press time, TRON is traded at $0,024, and trading volumes are around $260 million.