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Tron [TRX] Hard Fork: TIP12, TIP16, and TIP17 implemented in Odyssey 3.5 update

Namrata Shukla



Tron [TRX] hardfork: TIP 12, TIP 16, and TIP17 implemented in Odyssey 3.5 update
Source: Pixabay

The much-awaited Tron hard fork was finally launched, with new features, updates, and fixes added to the platform. The Chief Executive Officer and founder of the Tron foundation, Justin Sun, announced the release of the Odyssey v3.5 update via his Twitter handle.

Source: Twitter

Source: Twitter

The update also talked about the Tron Improvement Protocol [TIP] that was implemented as a part of the update. These updates included TIP12, TIP16, and TIP17.

TIP 12

This protocol is based on the event subscribe model of Tron that is used to subscribe to blockchain events, transaction events, contract logs, and contract events from Tron Full Node. This will enable developers to set up filters to subscribe to specific events in order to export them for further development.

The motivation behind enabling the protocol was to allow DApps developers or exchange to subscribe to an event triggered on Tron.

TIP 16

This protocol is about the standard interface of account multi-signature. According to the blog, standard transactions on cryptocurrency networks can be referred to as single-signature transactions as they require only one digital signature for a transaction to be completed. However, multi-signature requires the signatures of a transaction to reach the customized weight before execution.

The scheme includes three kinds of permissions – owner-permission, witness-permission and active-permission. Here, the owner-permission has the authority to carry out all contracts, while witness-permission is used for generating blocks and active-permission is custom permission [combination of contracts permission sets].

The motivation behind this protocol was to support account control which can be controlled by several private keys.

TIP 17

This protocol is about the standard interface of the adaptive energy limit model. The blog elucidated that the current Tron network requires Energy consumption for the creation and operation of smart contracts. This energy can be obtained by freezing TRX and the obtained energy = TRX/Total TRX* Energy Limit of the whole network for obtaining Energy frozen.

The blog stated:

“For example, if the total amount of TRX frozen for Energy in the current network is 1_000_000_000 TRX, and an account with 1_000 TRX frozen accounts for one millionth of the total amount frozen, then the Energy limit for that account is 32400 Energy.”

However, the blog explained that the energy will be wasted if certain accounts freeze TRX and have the corresponding energy but fail to use it. The Adaptive Energy Limit Model thus helps in automatically adjusting the upper limit of energy, according to the current energy consumption tension. The Foundation also mentioned that the motivation to implement this protocol was to avoid wastage of energy resources.

“Specifically, when energy consumption is low, increase the energy limit so that each account can get more energy when energy consumption is high, lower the energy ceiling so that each account has less energy.”