Photo: QuoteInspector
The 28th of February promises to be an important day for the crypto world. Not so long ago it was that on this day two very important upgrades, the long-awaited Constantinople and St. Petersburg, are expected to take place on the network.
And now it has become known that , the development platform and the owner of BitTorrent (which ICO in just matter of minutes), that positions itself as one of the main rivals for in many aspects including launch, is also preparing for an important update.
Just on the same day, Fabruary 28th, the network will perform a hard fork upgrade to version 3.5.
Expected Results
As it was disclosed by ’s CEO Justin Sun, the launch of the 3.5 network upgrade will bring a range of very useful features for institutional users. According to Sun, thanks to the hard fork, four institution-handling features will be introduced.
Multi-sig, acct mng and custody are three major requirements from institution. Recently we have received numerous demands from hedge funds, mainstream investors and financial institution. With 3.5 upgrade and the partnership with , is ready!
— Justin Sun (@justinsuntron)
Such a choice for the further directions of the network’s development is explained by the rising demand from the side of institutional investors such as hedge funds, financial institution, mainstream investors, as it has been stated by Sun. It has been also informed that has entered in a partnership with BitGo exchange.
The list of new features includes institution-ready multi-signature addresses, enhanced virtual machine safety and events server for decentralized applications (dApps), 50% performance increase and dynamic energy adjustments to real-time network performance which will ensure higher energy efficiency and more feasible energy consumption.
In general, it is expected that all the features that are to be introduced will ensure smoother functioning of the network. At the current moment, it is already proved that is able to process 748 transactions per second. The upgrade will also facilitate account .
What’s more, it is said by the company that the multi-signature upgrade, which presupposes a necessity of multiple authorizations for transactions validation, will help () to outpace other major , including .
Impact on TRX Price
Nevertheless, the hasn’t resulted in the growth of the TRX price, instead, during the last 24 hours, it has lost over 9 percent of its value. Worth noting, that all the major cryptos more or less sharp declines as well, as lost around 8.33%, – a massive 15.38%, and declined by 15% correspondingly.
But there is still some hope that the situation will change after February 28, when the hard fork is scheduled. And it will be rather interesting to see what impact these updates will have on coin’s price and market cap after the implementation. At the press time, the coin is traded for $ 0.024 and its market capitalization makes around $ 1.56 bln.
Published at Mon, 25 Feb 2019 16:18:22 +0000
