- Zk-SNARKs to add privacy feature to Tron blockchain shielding transactions.
- Tron to join other privacy coins like Monero, Zcash and Verge.
Tron, the 11th largest cryptocurrency project has been achieving milestone after milestone this year. Besides, the network is working on other ground breaking projects like Project Atlas. This week the founder of Tron, Justin Sun announced to the community that transactions on the network has surpassed 2 million. Sun said that Tron is “rewriting the history of blockchain” and this milestone was just the beginning. Tron will be holding its first ever blockchain conference soon and the community expects the company to release more development news.
Tron is currently considering giving its users more privacy while on the network. The plans were first mentioned by Justin Sun during an interview conducted by Bad Crypto Podcast. The founder shared with listening the plans the company has in terms of future developments as well as adoption of digital assets. In addition, Sun talked about the integration of Zk-SNARKs.
Zk-SNARKs refer to Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. They are development from the commonly known as zero-knowledge proofs. The same technology has been utilized in the privacy focused Zcash (ZEC) and other cryptos as well.
This technology has the ability to introduce a shield that hides the amount of assets being sent besides, it encrypts the transactions. This means that the identity of the wallet will not be visible in public hence increasing privacy within the network.
Sun said that the network is getting ready to carry out the implementation of the tech. It is scheduled for some time in the Q1 of 2019. This upgrade will allow Tron users to transact in privacy and anonymity. The number of anonymous cryptos continue to increase. Some of the existing one include Monero (XMR), Zcash (ZEC), Verge (VG) and Bitcoin Private (BTCP).
“People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that ànd limit how much data you are required to share,” Sun told his listeners.
Tron (TRX) is valued at $0.014 at the time of press. It is up 2.26% against BTC but has recording a 0.20% loss against the U.S dollar in the last 24 hours. Tron is a $970 million crypto that has a trading volume of $78 million (24-hours). The asset has come under heavy selling pressure like most digital assets in the market.
Tron (TRX) Price Analysis: TRX/USD subject to extended move north, over 2 million transactions recorded
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