BitTorrent owner and blockchain development platform TRON will be upgraded via a hard-fork by the end of this month (February), according to CEO Justin Sun announcement he posted on social media that we are looking more into in our altcoin news today.
TRON presents itself as a strong competitor to Ethereum (ETH) which aims to increase its appeal for institutional investors and users by launching crypto tokens and other crypto offerings. According to Justin Sun, the hard fork for TORN will provide institution-handling capabilities but will also offer other features such as multi-signature possibilities and better account management options.
The TRX token seems to be reacting well to the news when they initially surfaced a couple of days ago before Bitcoin started going down the road again and dropped by more than 8 percent on Sunday according to the intraday analysis.
With Sun in charge, the company started a massive expansion program including the acquisition of BitTorrent and the other popular torrent client uTorrent in 2018.
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At the same time, the crypto community wasn’t too happy of Sun’s criticism of Ethereum.
As previously reported, some users expressed their dislike about Tron after Stellar’s (XRM) Jed McCaleb attacked the platform when he was interviewed last year. Investors are positive that the next phase of TRON will be further fueled by the BTT token. TRX has also hundreds of dApps with thousands of active users as well.
In January alone, BitTorrent completed its initial coin offering (ICO) that helped the platform raise funds after which its token reached a stunning spike in price up to 600 percent soon after it was issued.
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