The Internet Engineering Task Force (IETF) has formally approved TLS 1.3 as the next major version of the Transport Layer Security (TLS) protocol. The decision comes after four years of discussions and 28 protocol drafts, with the 28th being selected as the final version. The biggest feature of the new protocol is that it ditches older encryption and hashing algorithms for newer and harder to crack alternatives (such as MD5 and SHA-224) The protocol has several advantages over its previous version TLS 1.2.
Source: https://www.bleepingcomputer.com/news/security/ietf-approves-tls-13-as-internet-standard/