Hassan Maishera
The Hedera team announced via a blog post on Wednesday that HIP-850 will be implemented on the network as the mainnet upgrades to v0.53 soon. The upgrade proposes a significant enhancement to the Hedera ecosystem by granting Supply Keys the ability to update NFT metadata while the NFTs reside in the treasury account.
This HIP introduces the capability for the Supply Key to execute TokenUpdateNftsTransaction, allowing for the metadata of individual NFT Serials to be updated while they reside in the treasury wallet.
Hedera explained that by introducing this capability, HIP-850 aims to address the limitations mentioned above, enabling more dynamic and controlled management of NFT data without compromising asset integrity or trust.
Hedera Hashgraph is a distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0506 at press time, up by 2% over the last 24 hours.
