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Upgrade
/ʌpˈɡreɪd/
To make something better or more advanced than it currently is in terms of performance or capacity.
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Examples:
The software requires a major upgrade soon.
You can upgrade your ticket for a better seat.
Consider upgrading to the new version next month.
Etymology:
The word upgrade originates from the prefix up- meaning higher or further and grade from Old French grade indicating a degree in a scale. It was first used in the late 19th century to refer to a better position or improvement.