Connect with us

Altcoins

Tron’s [TRX] Justin Sun confirms imminent launch of new privacy features called zk-SNARKs

Yash Rajan

Published

on

Source: Pixabay

Tron is ready to upgrade the security measures on its demo network. The blockchain-based protocol is set to launch its latest privacy feature called zk-SNARKs. This will soon be integrated onto the Tron mainnet.

The announcement was made by Tron’s Founder Justin Sun. Soon after the announcement, the news spread like wildfire, with Sun disclosing details about the launch and promising that the feature would make Tron more secure. It is going to utilize the zero-knowledge proof method wherein users will be able to carry out transactions without having to reveal any information about the same to the entire network. In terms of cryptography, the zero-knowledge proof lets the prover manifest the verifier regarding the information, without the need to share background details.

Justin Sun commented,

“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.”

Tron is a user-centric platform and an additional security feature would help users explore more secure options for transactions, allowing them to proceed with transactions effectively and efficiently.

This method is entirely contrary to the actual working of the cryptocurrency world. The new addition to the Tron network would be initiated internally and be available to developers next week.

Sun further added,

“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.”

Tron’s latest security feature is similar to that of Zcash, a privacy-centric coin. Monero is already working on similar privacy features linked to transactions, but Tron is going to empower its users by keeping the privacy option open at the user’s discretion.





Subscribe to AMBCrypto’s Newsletter


News

Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more

Jibin M George

Published

on

Crypto News – 24 June

Erik Voorhees on Bitcoin: According to the CEO of Shapeshift, Bitcoin’s relative traceability has allowed governments to become comfortable with it

Read more at https://bit.ly/2WVviJW

Max Keiser on gold’s ‘resurgence:‘ Max Keiser made news after he stated that Bitcoin’s growing popularity as a competing store of value and millennials were responsible for gold resurfacing in the conversation about store of value assets

Read more at https://bit.ly/2Xve2zp

Tron back in the top 10: A month after CEO Justin Sun promised to get Tron back in the top 10 of the world’s largest cryptocurrencies, TRX surged by over 6% to achieve the same by overtaking Cardano

Read more at https://bit.ly/31TXekX

Bank of International Settlements on Libra: While talking about Facebook’s Libra, BIS’s report attested to the need for sound public policy, financial regulation, competition regulation, and data privacy regulation

Read more at https://bit.ly/2Fsoptu

Bitcoin short futures position on the rise: According to a Twitter user, 70% of all Bitcoin short futures position are taken by four traders

Read more at https://bit.ly/31Om4CQ

LocalBitcoins’ Russian Ruble trading charts: According to CoinDance, the weekly LocalBitcoins chart revealed that the Russian Ruble [RUB] recorded towering volumes, even after the June 1 cash-exodus announcement

Read more at https://bit.ly/2JgRWYz

Howard Chu on Monero: According to the Founder of Symas Corp., Monero was “outstripping” other projects in the space which have larger budgets, in light of the new features added to Monero

Read more at https://bit.ly/2Y8IsEQ





Subscribe to AMBCrypto’s Newsletter


Continue Reading