Friday, April 16, 2021

Tron Closer to Introducing Privacy Technology Based on Zero-Knowledge Proofs –Justin Sun

The founder and CEO of Tron, Justin Sun has once again reminded the Tron community and the cryptocurrency sphere at large about the underway introduction of privacy technology based on zero-knowledge proofs to TRON’s smart contracts.

Details about the Privacy Technology Launching on Tron Network

TRONZ is a privacy initiative that is getting set to fully integrate Zk-SNARKs, the core privacy technology Zcash (ZEC) that runs on TRON blockchain.

TRON Foundation in conjunction with the TRONZ development team is working hand in hand to make Zero-Protocol proof Technology (Zk-SNARKs) a reality. This is expected to provide a high level of privacy on the Tron network, which is the best wish of the teeming users.

According to Tron Foundation on 17th January 2020, below are what to expect once the underway Privacy Protocol Goes into full functionality on Tron network;

  • becoming Largest MPC
  • making blockchain one of the most advanced technologies in the world
  • amassing popularity and attention globally
  • setting a new Guinness World Records

Evidently, zk-SNARK is an important feature of the privacy-oriented Zcash encryption currency. Howbeit, going by the expectation of the Tron Foundation listed above, the TRONZ team plans to build the most efficient, unmatched, and least resource-consuming privacy protocol in the world.

It also plans to apply technical features that have not been revealed or applied anywhere. The TRONZ team has constantly showcased that the underway privacy solution is ready, tested and could go live on the Tron network any moment from now.

Additionally, there would also be an implementation of the Secret Computing Protocol [MPC] to enable signers to securely set parameter parameters.

Conclusively, the upcoming privacy protocol is just one of those developments coming to the Tron ecosystem this year. Recall that the CEO Justin Sun has consistently mentioned that a decentralized stablecoin backed by TRX and BTT will soon launch.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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