Altcoins

Tron’s Justin Sun: Multi-sig, account management and custody are three major requirements from institutions

from Amb Crypto 5 years ago 0 0 880

Tron [TRX], the ninth-largest cryptocurrency is all set to undergo a hard fork on February 28, 2019, and the development was announced on February 23 by the Chief Executive Officer and Founder of Tron Foundation, Justin Sun, through his Twitter handle.

The CEO wrote,

“#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 hardfork is expected to add numerous new features to Tron’s blockchain platform. Along with the addition of new features, the hardfork will roll-out some major improvements, including multi-signature, account management, and custody protocols.

Sun highlighted that the team had also received multiple demands from hedge funds, and added,

“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 @BitGo, #TRON is ready! #TRX $TRX”

Tron [TRX] performed comparatively better than other coins on the CoinMarketCap list on February 23. When most major coins were falling by double digits, Tron [TRX] managed to put an end to the crash at around 6%. The foundation is overly positive about the coin’s performance in the market. However, the coin slipping from the eighth position has harmed investor sentiments.

At press time, TRX was valued at $0.0240 with a market cap of $1.6 billion. The coin registered a 24-hour trading volume of $262 million while it fell by 6.06% within the past day. The coin reported a fall of 2.29% over the past seven days and was still noting a minimal fall by 0.54% over the past hour. The coin noted the highest trading volume on OKEx. The noted trade volume of the coin on OKEx was $24 million via the TRX/USDT pair.