Tron (TRX) which has been one of the most talked about cryptocurrencies in recent months, is reportedly to undergo a hard fork upgrade on February 28th, 2019.
The details were announced on Twitter by Justin Sun, the founder of Tron.
#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
What is a Hard Fork?
A hard fork in blockchain is defined as a change to the protocol, leading to old rules being invalid and all nodes working in accordance with the new rules to upgrade their software.
Tron will be undergoing a hardfork known as backwards incompatible upgrade. It can be compared to a newer version of Microsoft Word not being able to read an older version of Microsoft Word’s file which consists of characters and fonts.
Justin Sun’s Aggressive Moves
Justin Sun, also known as a protege of Alibaba’s Jack Ma has pursued an aggressive expansion program for Tron. It’s acquisition of the most popular peer to peer sharing platform BitTorrent highlighted Tron’s seriousness in trying to decentralize the web.
BitTorrent’s Initial Coin Offering (ICO) was extremely successful with a 600% hike in value following issuance.
Sun is also known for publicly criticizing Ethereum, and has clearly outlined its vision of overtaking Ethereum in terms of transactions and decentralized applications being successful.
February 28th – The Day of Hard Forks
It’s not only Tron that will be undergoing a hardfork, but also the world’s second-ranked cryptocurrency Ethereum which will be carrying out the long-awaited Constantinople upgrade.
At the time of writing both Ethereum (ETH) and Tron (TRX) have suddenly dropped after a sudden spike yesterday, 24th February. Ethereum has a current market capitalization of $14,667,543,707 with a price of $139.69 while Tron’s (TRX) market capitalization is $1,611,812,440 and a price of $0.024172.
Subscribe to our newsletter The Raven’s Dispatch!