On June 18th, Tron Foundation, which is one of the leading blockchain-based decentralized protocols, announced a major upgrade on Tron’s MainNet – Odyssey.
Basically, the TRON network aims for creating entertainment-focused decentralized applications (DApps). The platform also claims that developers can create DApps on both the TRON protocol as well as the Tron Virtual Machine.
Reason behind updating Tron’s Mainnet
According to the blog post, The mainnet shall soon be upgraded to new version 3.6 with several new features coming to the network. The upcoming features are designed to make DApp creation easier and also enhance the protocol data, which automatically detect any malicious software on the network or on the developer’s device.
The main objective behind this upgrade is that it is directed towards rebuilding the security and usability of the TRON blockchain.
What new features you can expect on the updated version of Tron’s MainNet – Odyssey
New instructions are added for the TVM, including create2, bitwise shifting, and extcodehash, supporting more new features;
Allow contract deployer to clear his contract existed ABI, further improving the privacy of the contract;
Implement a more lightweight built-in event server, providing convenience for DApp developers to customize their own event service when they choose to switch on this feature.
Enhance protocol data check to prevent malicious data on the chain;
Add transaction permission settings for users, compatible with multi-signature;
Optimize the P2P network and the block/transaction broadcasting process for gRPC/HTTP interface, further improving the stability of the TRON network.
Additionally, the blog post also states that the TRON public chain can perform tens of thousands of transactions per second (TPS). According to its website, TRON consistently performs 2,000 transactions per second, dwarfing a purported Ethereum (ETH) network TPS of 25 and a Bitcoin (BTC) network TPS of 3-6.
Anyways this shall be an interesting step for every TRON fan out there, as it is highlighting the Foundation’s commitment to upgrading and expanding the protocol. When will the upgrade launch? Stay tuned with coinpedia to know further developments.
So, now most of the users holding Tron coin are eagerly waiting for the pump! Will Tron Price Pump following the upgrade?
According to coinmarketcap, TRX coin is currently trading at $0.033113 or 0.00000362 BTC with 1% loss. At present Tron is standing in 12th position with $2,208,052,814 market cap value. Well, as a result of upgrading tron’s mainnet, I hope TRX price may increase slightly in the coming days.
Now coming to the technical indicators,
- The Chaikin Money Flow indicates the Bullish Trend, continuous Buying Pressure, rising prices coinciding with CMF values above 0
- The Bollinger Band is showing compressing volatility in the market.
- The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
- The Relative Strength indicator has turned bullish on the one-hour time frame which is above 50 levels.
- The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
- The Parabolic SAR markers are above the candles and showcased a bullish market.