Tron News Today – Top Headline for Tron TRX, December 18th 2019

  • Tron Starts Testing Unidentified Transactions
  • Tron commences beta-trial for protected transaction
  • Donations to aid project acceptable on GitHub

Of recent, there has been a trend in the crypto sphere. Several crypto projects want to provide their users more privacy and are therefore considering the introduction of Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNAKRs). Zk-SNAKRs is a technology created by the developer of Zcash. This tech provides the prospect to anonymize the transaction figure, also the sender and recipient on a public blockchain.

Since the Juvenile upgrade of Zcash that lessened the storage necessities for private transactions by 97% using zk-SNARks, they have also become practical. It now seems that TRON and its founder Justin Sun are going to join the league of blockchains using zk-SNARKs for the TRX token.

The CEO of TRON Justin Sun declared in a tweet that TRON is set to launch its protected transaction in a beta test. The private transactions are created to hide the sender and receiver’s addresses, transaction amount and transaction input and output. Sun further ask developers to donate to GitHub to aid the project.

Justin Sun has been promoting Tron is all possible ways and manners and even paid over $4 million for the lunch with Warren Buffett that never occurred. TRX has made its way to several crypto exchange platforms and currently pending to be deemed fit for listing on Binance.U.S. Still, SUN is not relenting, as he keeps growing the blockchain and adding a new feature to Tron.

Tron commences beta-trial for protected transaction

In a five-page tweet, Jun Sun declared that Tron has started testing protected transactions for TRX users. An excerpt from the tweet goes thus: “(1/5) #TRON is about to beta-test its shielded transaction. Shielded transactions hide Sender and receiver’s addresses; Transaction input and output; Amount transacted.”

These new protected transactions are founded on zk-SNARK (a zero-knowledge algorithm). Tron will also be employing a multi-party computation protocol (MPC) for creating the needed restrictions safely and transparently. The system is intended to be secure from malicious attacks that hackers may try to run.

Donations to aid project acceptable on GitHub

Justin Sun states that the testing phase is attainable, hence the more developers can partake, the better. Sun is inviting developer teams to donate to the project on GitHub or mail Tron for more details. The private transaction according to Sun will be optional.

Sun has been on the issue of the private transaction since early December 2018. Sun spoke about the early growth of the development, he stated then that a higher level of privacy and anonymity is required in our society today. This leads to a concession of privacy that Sun wants to avert as part of TRON’s vision of a Web 4.0 platform.

TRON (TRX) Price Today – TRX / USD

NamePrice
bitcoin
Bitcoin
$13,008.72
tron
TRON
$0.027

Sun further stated then that not all transactions will be protected. Instead, an option feature will be added to make operation easier for users. He claimed that users should be able to choose if they want a private transaction or not.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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