Categories: Analysis 2

EOS Hard Fork in 10 Days, Major Updates for Tron, Neo

The Cointelegraph Analytics team have released a summary of the most anticipated upcoming events for major coins including EOS, Tron (TRX) and Neo (NEO).

EOS, the seventh-biggest cryptocurrency by market cap, is expected to have its first consensus upgrade on Sept. 23, as EOS block producers (BPs) have agreed to activate EOSIO v1.8 on the EOS mainnet on this date.

Tron to update the Sun Network

According to Cointelegraph Analytics, Tron is soon expected to release an update for the Sun Network that was officially launched on Aug. 11.

The Sun Network is a sidechain scaling solution that is designed to deliver supposedly unlimited scaling capacity for the Tron network. Additionally, the solution will purportedly allow decentralized applications (DApps) to consume less energy and run with higher security and efficiency.

As noted by Cointelegraph Analytics, resource consumption on the sidechain will be 100 times less, which will purportedly lead to a surging number of DApps.

EOS to have its first hard fork on Sept. 23

According to EOS Nation, a major BP, the upcoming event is the largest upgrade to the EOS network since it was launched. It is also the first update to require a hard fork, which is a split of the source blockchain into two separate networks that will have their own transaction histories. EOS Nation says 29 of the 30 top BPs have committed to upgrading at publishing time.

As noted by Cointelegraph Analytics, apart from small improvements in security and scalability, EOSIO developer company Block.one has reportedly simplified the operation of future hard forks.

Big Neo update coming

Neo, the 20th-biggest coin by market cap at publishing time, will have a major upgrade to NEO 3.0 in the second quarter of 2020, as previously reported. The upgraded version is expected to be launched as a new blockchain network, where users will need to swap their existing tokens for new ones.

According to Neo co-founder and core developer Erik Zhang, the update is necessary because a number of architectural improvements to Neo’s performance are not compatible with its current blockchain.

Cointelegraph Analytics notes that the current version of the Neo blockchain is only receiving bug fixes and has the simplest set of features, while the NEO 3.0 upgrade will have a number of improvements.

Those improvements will include cheaper transactions and deployment of smart contracts and a faster blockchain powered by a unified transaction model.

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