Tron (TRX), the blockchain and dapp development platform, ranked 9th-largest cryptocurrency by market capitalization, is undergoing a major hard fork that will include multiple upgrades on February 28, 2019.
The upgrade is dubbed the 3.5 hard fork and will include major performance features and improvements including multi-signature, account management, and custody protocols.
Justin Sun, the founder of Tron and CEO of the Tron Foundation, announced the upgrade and its entailing upgrades via Twitter:
According to Sun, the Tron Foundation has received numerous demands from hedge funds, mainstream investors, and financial institutions.
The 3.5 hard fork purportedly fills these demands by including 3 key improvements: multi-signature, account management, and custody protocols, which are necessary for institutional investment.
Explaining the reasoning for the hard fork, Sun responded to his prior tweet:
Per the announcement of the 3.5 hard fork, the price of Tron (TRX) has reacted positively, seeing a 1-day gain of over 8% from $0.024 to $0.027 on February 24. However, the gains have since subsided and are again hovering around the $0.024 price range.
Will institutional investors take a liking to Tron (TRX) with its new features and protocol improvements included in the 3.5 hard fork? Let us know what you think in the comment section below.
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