Tron, the blockchain platform led by Justin Sun, has announced the date of the long awaited update. According to an announcement by the TRON Foundation, Tron 4.0 will be released on July 7 with an enhanced data protection feature called zk-SNARKs.
In an open letter to the community, Sun and the TRON Foundation announced that with this launch they will celebrate the second anniversary of the TRON mainnet. The update marks the end of the “Odyssey” era and will announce the start of the “Great Journey” era.
As you can read in the press release, it is a protocol that is represented by an intelligent contract and is called “Smart Contract Privacy Protocol”, which will be an integral part of TRON 4.0, as Justin himself announced Sun.
TRON 4.0 a transformation for the platform
The announcement says that the launch of TRON 4.0 will be a transformation for the platform. TRON is moving from a project that focuses on blockchain technology to a project “Trend marker” for the industry.
In addition, the platform will place more emphasis on being a user-friendly and business-friendly public chain. The platform hopes to help build a new financial infrastructure for the next generation. TRON 4.0 will also strive for financial institutions, companies and users to enter the blockchain industry.
To achieve this, TRON 4.0 has further functions and improvements. First, the first privacy contract log is announced to be supported by a virtual machine. The protocol will be energy efficient and will be the most productive and secure today. Sun stated that the protocol was developed by the TRON Foundation in one year and will be an integral part of TRON 4.0.
Tron vs Zcash for privacy
The Tronz team started the MPC Torch (Multi-Party Computation) project earlier this year, involving a total of 196 developers from around the world and even outperforming Zcash.
Tron uses the zk-SNARK technology (Zero Knowledge Succinct Non-Interactive Knowledge Argument), which is also included in the Zcash (ZEC) blockchain.
“This is the first time in history that zk-SNARKs will be implemented in a blockchain based on intelligent contracts,” the announcement said.
The zk-SNARKs are the core of the ZCash blockchain data protection technology. The data protection function ensures that a transaction can be carried out without revealing confidential information such as the amount of money sent.
The update will also introduce a new type of TICP Transschain 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 channels to connect to the world and according to the announcement “Start an era of chain communication”.
Finally, TRON 4.0 will bring a blockchain business solution that can be used to develop and deploy applications based on a company’s needs. However, no further details were given about this solution.
Sun first spoke of its intention to introduce zk-SNARKs to the Tron network in 2018. said that the start is a crucial moment in Tron’s development.
Tron 4.0 came at an exciting time
Tron 4.0 comes at an exciting time for blockchain smart contract platforms. This release shows TRON’s amazing transformation from a blockchain-focused project to an industry pioneer.
Not only will it be the first choice for small and medium-sized developers creating DApps, but it will also be the gateway for financial institutions and business users to enter the world of blockchain technology.