Tron, the blockchain platform headed by Justin Sun, has announced the date of its long-awaited update. Tron 4.0 will launch on July 7, with an advanced privacy feature known as zk-SNARKs, according to an announcement by the TRON Foundation.
In an open letter to the community, Sun and the Bitcoin Era Foundation announced that they will celebrate the second anniversary of the TRON mainnet with this release. The update will mark the end of the „Odyssey“ era and the beginning of the „Great Journey“ era, according to the announcement.
As you can read in the press release, this is a protocol that is represented by a smart contract and takes the name „Smart Contract Privacy Protocol“, which will be an integral part of TRON 4.0, as announced by Justin Sun himself.
Poloniex lists the Binance currency after the tensions over Steem
TRON 4.0 a transformation for the platform
The announcement states that the launch of TRON 4.0 will be a transformation for the platform. TRON will go from being a project focused on blockchain technology to being a „trend setter“ for the industry.
In addition, the platform will place greater emphasis on being a user and business friendly public broadcaster. The platform expects to contribute to building a new financial infrastructure for the next generation. Also, TRON 4.0 will seek to become the entry point for financial institutions, companies and users to the blockchain industry.
To achieve this, TRON 4.0 will have other features and improvements. First, it will have the first privacy contract protocol supported by a virtual machine, according to the announcement. The protocol will be energy efficient and will be the most productive and secure protocol available today. Sun said the protocol was developed in one year by the TRON Foundation and will be an integral part of TRON 4.0.
Justin Sun tells about Steem-Hive’s hard fork in the Virtual Blockchain Week
Tron vs Zcash for privacy
The Tronz team launched the MPC Torch Project (Multi-Party Computation) earlier this year, involving a total of 196 developers from around the world, surpassing even Zcash.
Tron uses zk-SNARK technology (Zero Knowledge Non-Interactive Knowledge Argument) which can also be found in the Zcash block chain (ZEC).
„This will mark the first time in history that zk-SNARKs will be implemented in a blockchain powered by smart contracts,“ according to the announcement.
The zk-SNARKs are the core of the ZCash blockchain’s privacy technology. The privacy feature ensures that a transaction can be made without revealing sensitive information such as the amount of money being sent.
The upgrade will also introduce a new type of transcadena TICP protocol. In this way, the Great Journey will be an era of interoperability with other chains in the TRON ecosystem. The developers will have three public networks, according to the announcement, to connect with the world and „start an era of communication between networks“.
Finally, TRON 4.0 will bring an enterprise blockchain solution so that applications can be developed and deployed based on an enterprise’s needs. However, no further details were given about this solution.
Sun first talked about its intention to introduce zk-SNARKs into the Tron network in 2018. Announcing the news on Twitter, he said the launch marks a key moment in Tron’s evolution.