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- The Tron community developers have come up with the most efficient and safest privacy protocol.
- Several simulated tests have been completed on the TestNet and the TRONZ Smart Contract Privacy Protocol will go live on 7th July 2020.
The Tron community developers have come up with the most efficient and safest privacy protocol. The protocol built on blockchain technology and zk-SNARKS. It is developed on the Tron network with a landmark for being the first smart-contract powered blockchain.
#TRONZ has completed a public test on🛡️shielded transactions, deployed TestNet, implemented instructions for zk-SNARKS in #TRONVM.
On July 7th, 2020, @OfficialTRONZ smart contract privacy protocol will officially go live as an integral part of #TRON 4.0https://t.co/RawMa8n2O8
— H.E. Justin Sun 孙宇晨 (@justinsuntron) June 29, 2020
Earlier this year in January, TRONZ Foundation organized its first non-profit MPC Torch Project. It was the largest MPC Project which provided credible parameters for privacy protocol. Several simulated tests conducted on the TestNet and the TRONZ Smart Contract Privacy Protocol will go live on 7th July 2020.
Users can choose to opt for the shielded transactions by implementing the smart contract on the TRON Network.
Public Testing Of TronZ Smart Contract Privacy Protocol
In a public statement from the community, they assured that there are sufficient funds to develop the financial ecosystem with 6 million community users. They aim to make cryptocurrency private and secure, however, without the issue of new tokens. Hence, The Smart Contract Protocol is an open-source platform, and everyone is free to use its services free of charge.
Justin Sun, the founder of TRON, is regarded to have guided the team to the safest and efficient privacy protocol. The key security technology of ZCash Blockchain, zk-SNARKS, allows transactions to be performed without disclosing the amount transferred. It is an added security feature that will enable them to keep the transactions anonymous and secure. Thus, It will empower small business clients towards the custom development of financial institutions.
Blockchain-based application software may develop for consensus mechanism, database, and P2P network. Moreover, the protocol system will help build a new blockchain system and reduce the time and cost of projects.
Besides, Out-of-band transactions, transfers of any amount, shielded account mechanism, and verifiable are some of the features of the privacy protocol. Hence, the transaction fees are highly affordable, with the advent of more efficient smart contracts. A diverse set of transactions might deploy for a higher degree of privacy. However, It has been over a year that it was in development and will finally see the light of the day.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
