TRON 4.0 Launch Scheduled Next Month Featuring Smart Contract Privacy Protocol

12. Jun 2020 Posted by Akolkar B on News

The much-anticipated and long awaited developments are finally coming to the TRON blockchain network next month in July. After a year of development, TRON 4.0 will be launching next month on July 7 with advanced smart-contract privacy features called zk-SNARKS.

zk-SNARKS called as the Zero-knowledge proof is a core privacy technology of the ZCash blockchain network. This privacy features allows transactions to be made anonymous without revealing information like the sender/receiver information or the amount of money being sent.

The announcement from the TRONZ Foundation states: “Extremely excited to announce the #TRONZ Smart Contract Privacy Protocol, an integral part of the #TRON 4.0 protocol, will officially go live on July 7th, 2020! This will mark the first time in history where zk-SNARKs will be implemented on a blockchain-powered by smart-contracts”.

Thus, TRON 4.0 will be the first blockchain platform to host a smart contract privacy protocol. However, this smart contract will be completely an open source and available to any developer within the TRON ecosystem.

However, unlike the ZCash protocol, the TRON 4.0 won’t make TRX transactions anonymous in any way. The TRONZ Foundation which has introduced this smart contract privacy protocol said that they have ensured compliance with global regulations and policies. As a result, privacy will be a standalone feature on TRON 4.0.

The official announcement reads: TRON has been working steadily on developing a safe public chain in compliance with global regulations and policies. Therefore the TRON 4.0 upgrade will not make TRX anonymous in any way, nor will it have added privacy features. TRONZ Smart Contract Privacy Protocol will fully support all TRC20-standard tokens on the TRON network, whether issued or not. Developers can adopt the shielded transaction feature simply by implementing the smart contract.

The four main features of the TRON 4.0 network include:

  • The TPOS Dual-Layer Consensus Mechanism which combines the advantages of DPoS and PBFT to drastically reduce the block ties from 57 seconds to less than 3 seconds.
  • The new TICP cross-chain protocol that sets up the basis for cross-chain communication with the TRON ecosystem.
  • The TRONZ Smart Contract Privacy Protocol being the first blockchain-based privacy protocol supported by a virtual machine.
  • Offering enterprise-grade customized blockchain solutions to financial institutions as well as other businesses.