News Justin Sun: zk-SNARKs on demo Tron network is imminent

Justin Sun: zk-SNARKs on demo Tron network is imminent

-

- Advertisment -

Blockchain network Tron is getting serious about privacy.

The public blockchain is set to start trialling new privacy features called zk-SNARKs on a demo version of its mainnet in the next few days, Tron CEO Justin Sun told Decrypt in an interview.

Further down the line, the features will be introduced to the Tron testnet, and following that, will go live on the official mainnet, he said.

The new privacy features are a type of zero-knowledge proof called zk-SNARKs. They allow for transactions to be made that don’t reveal the transaction information to the network. However, this necessarily results in a less-transparent blockchain and iterations of zk-SNARKs on other blockchains have led to inflation bugs that are hard to detect.

These features will initially by available internally at Tron, but they will be publicly available to developers next week.

Said Sun: “zk-SNARKs are extremely important because they provide a new way for everyone to start using Tron with privacy protection. This is critical to lots of the crypto adopters in the industry.”

Unlike Monero, which has private transactions by default, Sun said these new privacy features will be optional on Tron. This is similar to zCash, which is one of the main proponents of zk-SNARKs.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the modern era as of yet. Luckily, there are tools to...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...
- Advertisement -

Crypto’s price surge was mostly due to limited information – here’s why

As the world becomes more and more digitized, the usage of one of the most popular cryptocurrencies,...

U.S. Authorities Seized Bitcoin Worth a Total of $1 billion

The cryptocurrencies were in the possession of a person who had hacked Silk road, which was detected...

Must read

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether...
- Advertisement -

Read Next
Recommended to you