Tron’s Justin Sun Addresses Plans For Private Transactions
Tron was rrecently in the spotlight when a former PayPal software engineer had some pretty exciting things to say about the project.
Udi Wertheimer, an independent developer, BTC supporter, and former software engineer at PayPal, said that Tron would overtake Ethereum some time in 2020.
He details the advantages that the Tron project has over Ethereum:
“TRON: More blocks, more transactions, fast development, business acumen, more use cases, proven to be censorship-resistant so far,” he said.
Justin Sun addresses private transactions
Justin Sun updates the community on the upcoming developments on the Tron network.
In a new tweet, Sun announced that there’s a Tron-based privacy coin is a step closer to reality. Back in January, 2019, Tron CEO revealed plans to have private transactions.
Since then, the blockchain project has added the feature to the testnet in July last year and opened it to beta testers only during the past month.
This week Justin Sun updated his followers on the final steps of the projects.
Back in December, Sun said that Tron would be using zk-SNARKs and shielded transactions in order to hide data such as the recipient and sender addresses, transaction amounts.
Multi-party computation system
The blockchain project also plans to use a system called multi-party computation to secure the network.
This whole process seems to be similar to the one of Zcash (ZEC).
It’s been also revealed that Tron is making the privacy feature optional, but the company didn’t say anything about how users will access the privacy features.
Smartereum online publication posted: “The firm might add privacy features to its main native token TRX or issue a secondary token. Digital currency trading platforms may also play a role. The recent tweet of Sun implies that Poloniex exchange, which is now closely related to Tron, is involved in this project.”
Here’s Justin Sun’s tweet:
— Justin Sun (@justinsuntron) January 6, 2020
The community of fans is excited about the news, as expected.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.