TRON (TRX) to Target Institutional Investment in Upcoming Hard Fork

TRON (TRX) to Target Institutional Investment in Upcoming Hard Fork

TRON (TRX) is gearing up for a hard fork which will target institutional investors, as told by TRON CEO Justin Sun on February 23, 2019.

An Upgrade Is Coming

While the blockchain community is still waiting on the Constantinople hard fork to take place, it seems TRON will be launching a hard fork of its own on February 28, 2019. This was announced by Justin Sun, the CEO of TRON, via Twitter on February 23, 2019.

“#TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go! #TRX $TRX,” the tweet read.

Institutional Goals

One of the main takeaways from Sun’s announcement is that the new upgrade is made to appeal to institutional investors and is equipped to handle the processes that come with that.

This isn’t the only move the TRON has made towards attracting the demographic. On February 19, 2019, the firm announced it’s induction into BitGo’s roster.

“This partnership with BitGo will let institutional investors trade TRX with the confidence,” said Justin Sun, founder of TRON and CEO of BitTorrent.

“As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.”

Besides the tools that are designed for institutional investors, other features will be added in the upgrade such as multi-signature abilities and account management options.

An Aggressive Pursuit

TRON is known to be one of the most aggressive blockchain firms in the industry and shows no signs of slowing down.

In June 2018, they purchased BitTorrent, one the largest torrenting platforms in the world and when their BTT token ICO was launched in January 2019, it exceeded the initial goal within minutes.

Now, they seem determined to take on the broader financial world, and this hard fork appears to be a step in the right direction.

TRON has also gotten involved in some philanthropic work, teaming up with the ALS Association to track donations being made as well as pledging financial support of $250,000.

Published at Tue, 26 Feb 2019 07:00:18 +0000