Tron, one of the fastest growing blockchain development platforms, will hard fork on February 28 to introduce a host of institution friendly features, the company’s CEO said. In a February 23 tweet, Justin Sun said that the hard fork will deliver institution-handling capabilities, as well as other features such as multi-signature abilities and account management options.
Tron’s 3.5 hard fork will also bring features like a 50 percent performance improvement, better virtual machine safety and events server for decentralized applications (dApps), and dynamic energy adjustments to real-time network performance. Energy consumption is one of the biggest concerns large networks such as Bitcoin and Tron, which is why the company decided to focus on better energy management.
Sun said that the company has seen a rise in demand from hedge funds, financial institutions, and mainstream investors. He also revealed that the company will partner with BitGo, a cryptocurrency exchange.
Tron’s latest update is part of the company’s wider growth plan. Under Sun’s management, Tron has pursued an aggressive expansion program, which led to the company acquiring BitTorrent, the operator of popular torrent client uTorrent. After buying out BitTorrent, the company completed an ICO, with its price since spiking to 600 percent of its value at the point of issuance.
The news about the next hard fork seems to have saved Tron from an epic loss. On February 24, the crypto market experienced a $17 billion dump, with heavyweights such as Etehreum and EOs shedding 14 and 15 percent, respectively.
Tron, on the other hand, lost just over 5% in the recent slide as it fell back to $0.024. TRX currently has $1.63 billion market cap and is likely to climb the charts again this week.