It looks like Justin Sun likes being the highlight of the crypto development, obviously for positive reasons. It's not been long that TRON launched BitTorrent (BTT) token which created frenzy and excitement amongst the crypto enthusiasts. The dust of BTT launch has still not settled down, when Justin Sun, the creator of TRON, announced via tweet that TRON would be undergoing a major 3.5 TRX hard fork upgrade on 28th February 2019 ( a backward incompatible upgrade) which would make it ready for partnership with BitGo. TRON upcoming events are almost one of the most sought after news that the crypto enthusiasts are looking out for, now that the major TRON (TRX) event is the hard fork upgrade.
We mustn’t forget that even Ethereum has announced the major Constantinople hard fork upgrade sometime between Feb, 26 and Feb, 28th, 2019. Even the TRON hard fork date is a couple of days away. So, it looks like the shortest month of the year has got some critical and prominent crypto events running. This is exactly what Justin Sun tweeted about 4 major developments that would be following the hard fork, which shall be explained in the latter part of the article.
As of now, dapps are being developed on TRON and EOS increasingly as both of these smart contracts have overtaken Ethereum since TRX mainnet launch, in terms of the number of applications launched on their respective networks. TRON claims that its platform offers more flexibility to the developers leading to compatibility with the projects and smart contracts. The reason for this hard fork upgrade is numerous demands from mainstream investors, hedge funds and financial institutions, as given by Justin Sun, himself. We will update you on the Tron next announcements, based on the TRON roadmaps and updates.
The multi-signature upgrade is a huge development wherein it leads to more and advanced security system by developing the need for more than one authorization for the transaction validation, which helps create a form of division of labor while performing a transaction. This would act as a big step for the BitGo collaboration and it would be ready for any challenge when it comes to any sort of security threats.
Once you know the requisition from the demand side, it enhances the energy efficiency of the blockchain network. This process is called dynamic energy management. As we know, large consumption of energy is a major concern in the blockchain technology, This feature would help TRON streamline its energy consumption, which is a big solution for higher efficiency. This dynamic energy is so important that it can mend the entire performance of the network. Recently, Elon Musk, the founder of Tesla said that the only reason why Tesla can’t go into the crypto industry is because of its high energy consumption factor, which is not exactly at par with the company’s vision.
Now, it makes sense what Dynamic energy adjustment can do for its long term developments. This can take TRON to a different level altogether.
This point is not jargon and is self-explanatory. Obviously, most of the blockchain technology wants to be more and more effective to better the services they are offering. Justin Sun noted that Tron seems to be one of the underestimated projects in January 2019 due to the fact that it erupted from an ERC20 network, which mostly shadowed its potential.
But TRON has been performing like never before, it has outstripped Ethereum by an average of 352% by the daily transaction and January was the 3rd consecutive month where TRON has been outperforming Ethereum. Now, this hardfork upgrade would give a boost to TRON’s performance and after this, well, beyond the sky is the limit.
We know that TRON has already built a Tron Virtual Machine (TVM) with the aim of providing a custom-built environment that is secure, stable and scalable for the developers. Now, it wants to build a more enhanced and advanced safety enabled virtual machine for the developers as well as an event server for dapps.
This hard fork upgrade would lead to the partnership between TRON and BitGo, which would enable the institutional investors' trade TRX with confidence as BitGo is an industry leader in institutional crypto financial services. Even BitGo CTO Ben Chan said that this partnership would be an important step for the institutional investors who look out for a wallet provider and a custodian, supporting a wide range of digital assets.
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2019-09-03 13:16:21.151865 | 2 min