The new Tron hard fork brings concrete improvements like 50% improved network performance, multi-sig features, better safety, and dynamic energy adjustment.
By Bhushan Akolkar
Updated
3 mins read
TRON is currently one of the most talked-after blockchain projects in the global blockchain and crypto community. Over the last year, the TRON blockchain network has made significant progress. In mid-2018, TRON acquired the peer-to-peer global internet network BitTorrent. Ever since then, TRON is on an exponential growth trajectory.
On Friday, February 28, TRON underwent a successful hard fork bring new sophisticated upgrades to its blockchain network. Justin Sun, the founder of TRON Foundation, had informed the community priorly before the event.
We will release 3.5 version in 12 hours! #TRON #TRX $TRX https://t.co/w95p3Jy4tN
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 28, 2019
The latest hard fork in the TRON blockchain network has led to the release of the much-awaited Odyssey 3.5 upgrade. Some of the most important features this hard fork brings are the multi-signature addresses and account management. These features are like to attract more institutional players to the TRON platform.
Besides this, some of the other upgrades by the Odyssey 3.5 hard fork includes:
On the successful execution of the Odyssey 3.5, the head of Tron public chain division, Marcus Zhao, made the announcement on Twitter. He also provided the link for the Odyssey 3.5 GitHub page.
Odyssey-v3.5 have been released! the TIP12,TIP16 and TIP17 have been implemented in 3.5.
check 3.5 release herehttps://t.co/Oh0utkKUew
check the TIP12,TIP16,TIP17 herehttps://t.co/s7EV0TxrUl— Marcus (@cccmarkus) February 28, 2019
During the recent Ask-Me-Anything (AMA) session on the Telegram Group, TRON founder Justin Sun spoke at length on the new upgrades. He also spoke on other topics like future developments, BitTorrent Token (BTT), and the recently held hard fork. In his initial remarks for the Odyssey 3.5 upgrade, Sun said:
“This MainNet upgrade is a significant one for TRON since last December. Previous upgrades were mainly for setting up the network, while this upgrade is the first major improvement of the network performance.”
Furthermore, Sun explained the merit of introducing multi-signatures. He explained how the multi-sig feature will help investors to easily manage TRON (TRX) and Tron-based cryptocurrencies. He said:
“Multi-signature is essential to institutional investors and investors with high net worth because institutional investors usually use institutionalized approaches to keep cryptocurrency assets, which are managed by multiple parties and with multi-layer procedures. Therefore, multi-signature allows multi-layer management of cryptocurrencies. It’s fair to say that without multi-signature, there will not be institutional investors.”
If big players are to join the Tron blockchain network in the future, the Tron Foundation could see unprecedented growth.
Last month, Justin Spoke had a conversation with CoinSpeaker in an exclusive interview. Sun detailed about the Tron project and how it differs from its peers like Ethereum and EOS with better scalability options.
He also explained his plans to completely decentralize the internet. The acquisition of the BitTorrent platform in mid-2018 was a step in that direction.
Last month, Tron also launched the BitTorrent (BTT) token, a Tron-based dApp, with TRC-10 compatibility. The BTT token will be used by BitTorrent’s 100-million client base to pay for higher network speed and faster downloads.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
