Justin Sun and the Tron Foundation to Launch TRON 4.0 on July 7th

Ethereum World News
Ethereum World News June 8, 2020
Updated 2020/06/08 at 9:36 AM
3 Min Read


In summary:

  • Justin Sun has announced that the highly anticipated TRON 4.0 will be launched on July 7th. 
  • Key to this new iteration of the Tron mainnet will be the new Smart Contract Privacy Protocol that uses zk-SNARKS. 
  • Privacy will be a separate feature on the Tron blockchain and TRX transaction will not be anonymous.
  • The Smart Contract Privacy Protocol will support all TRC20-standard tokens. 

The wait for an exact date of the launch of TRON 4.0 is finally over with Justin Sun revealing that the upgraded Mainnet will be launched on the 7th of July. Justin Sun made the announcement via Twitter with an additional open letter available on Medium. Mr. Sun’s tweet announcing the release date of TRON 4.0 can be found below.

Congrats to @OfficialTRONZ?

After nearly a year in development, TRONZ’s Smart Contract Privacy Protocol will finally be released as an integral part of #TRON 4.0 protocol on July 7.

Its launch will mark a definitive moment for the history and evolution of #TRON blockchain?https://t.co/n9DE3vTWt6

— Justin Sun (@justinsuntron) June 6, 2020

4 Key Features of TRON 4.0

In the elaborate open letter, the Founder and CEO of Tron explained 4 key features of the highly anticipated TRON 4.0 upgrade. The four features include:

  1. The TRONZ Smart Contract Privacy Protocol – The first smart contract privacy protocol supported by a Virtual Machine.
  2. The TPOS Dual-Layer Consensus Mechanism combining the advantages of DPoS and PBFT thus reducing block confirmation times from 57 seconds to 3 seconds.
  3. New TICP Cross-Chain protocol that will usher in a cross-chain era for the Tron ecosystem.
  4. Financial institution and enterprise blockchain solution for the deployment of customized blockchain-based applications.

TRX will Not be Private or Anonymous

TRON 4.0 will be the first blockchain platform to host a smart contract privacy protocol. The smart contract will be open source and available to any developer in the Tron ecosystem.

However, TRX transactions will not be private nor anonymous in any way. The team at TRONZ Foundation, who worked hard to deliver the smart contract protocol, explained that compliance with global regulations and policies is the main reason privacy is a stand-alone feature.

The [smart contract privacy] protocol will mark the first time for a smart-contract powered blockchain to implement zk-SNARKs…

TRON has been working steadily on developing a safe public chain in compliance with global regulations and policies.

Therefore the TRON 4.0 upgrade will not make TRX anonymous in any way, nor will it have added privacy features. TRONZ Smart Contract Privacy Protocol will fully support all TRC20-standard tokens on the TRON network, whether issued or not.

Developers can adopt the shielded transaction feature simply by implementing the smart contract.

Sourced by Ethereum World News

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