The Tron (TRX) network is about to undergo major surgery update on July 11, and TRX and other key metrics have seen a steady upward trend as the upgrade approaches. The upcoming Periander upgrade brings significant improvements to the Tron network, while TRX is experiencing an increase in on-chain stats.
The latest Tron Network update, Great Voyage—v4.7.2 (Periander), introduces four critical upgrades aimed at improving the functionality and usability of the network. These upgrades include an advanced Stake 2.0 mechanism, seamless compatibility with Ethereum’s EIP-3855, streamlined smart contract interface calls, and a revamped P2P network module.
Tron’s Periander Upgrade
The new Stake 2.0 mechanism gives users greater flexibility in deploying and staking their resources, with the ability to customize hold periods for delegated resources to suit their individual needs.
Ethereum’s compatibility with EIP-3855 promotes interoperability between the two ecosystems, attracts more developers to TRON, and reduces migration costs for projects on both chains.
On the other hand, the streamlined smart contract interface call provides developers with estimated transaction costs for deploying their contracts, simplifying smart contract development.
Finally, the renewed P2P network module improves the connection efficiency, availability, scalability and transmission efficiency of the TRON network.
TRON founder Justin Sun highlighted the organization’s commitment to fostering the growth of the TRON ecosystem and attracting more developers, capital, and users to the platform.
With over 169 million users worldwide, TRON has processed over 6 billion transactions and has a total locked value (TVL) of over $5 billion. It has built an extensive ecosystem that includes NFTs, DeFi, GameFi, stablecoins, the metaverse and cross-chain solutions, and houses the largest USDT circulating offering worth over $46 billion, making it an industry leader.
Overall, the TRON MainNet Periander upgrade brings significant improvements to the Tron network, giving users and developers greater flexibility, compatibility, and efficiency. The upgrade encourages greater participation in the network, attracting more developers to the platform and boosting ecosystem growth.
The revamped P2P network module provides a robust infrastructure that enables developers and users to explore new possibilities and drive innovation within the TRON ecosystem.
On-chain stats show a bullish trend for TRX
As the TRON network upgrade day approaches, the platform has according facts from DeFiLlama.
Since the beginning of the month, TRX trading volume has gradually increased, indicating a growing demand for the token. In the past few days, TRX’s trading volume has reached over $9 million.
In addition, network activity on TRON has also increased in recent weeks. On-chain activity, such as the number of transactions and unique addresses, is an essential metric to consider.
Leading up to the upgrade, TRON’s on-chain activity has increased, suggesting a growing demand for TRX. In the past three days alone, there have been more than 20 million transactions on the TRON network.
This growing network activity and the use of the TRON network are positive indicators for the TRON ecosystem and may lead to further growth in the future.
On the other hand, TRX has been in an uptrend since June 20, starting with a value of $0.06788 and now trading above $0.07784. This represents a significant gain of 13% over the last 14 days and 4% over the seven day period.
However, TRX is currently facing its annual high resistance at the same trade level. This could potentially cause a delay in reaching new yearly highs if it is unable to surpass its closest resistance.
Featured image of Unsplash, chart from TradingView.com