In an interview TRON’s CEO, Justin Sun stated that the much-advertised privacy addition to TRX testnet dubbed zk-SNARKs, is all set and would make trails on testnet.
One of the industry leaders in decentralized applications and the eleventh largest cryptocurrency by market capitalization, TRON is all set to launch its privacy feature on its testnet in the near future.
The CEO anticipating a smooth implementation of zk-SNARK and is looking forward to integrating the privacy feature into TRON mainnet very soon.
As TRON mentioned about the zk-SNARKs as an addition to their public blockchain, and, are the mechanisms that are zero-knowledge proof. It also allows transactions to take place without compromising the transaction information to the wider network.
Even though blockchains are valued for the transparency factor and public ledge but an additional layer of privacy transaction feature can increase the function of cryptocurrency.
Although the previous records of implementation of a zero-knowledge proof transaction on an otherwise public blockchain are not that attractive; the user would choose to keep transfers transparent as the other cryptocurrencies have been experiencing inflation bugs.
In the interview, Sun reiterated that with the addition of privacy features to TRON, zk-SNARK will add an additional shield for the clients. Zk-Snarks are extremely essential as they provide a different mode for everyone to initiate TRON usage with the protection of privacy, which is critical to a lot of adopters of crypto in the industry.
Previously, Monero (XMR) has been considered the leader in the privacy transaction industry. It has developed an enthusiastic investment base that is a believer of the functionality of cryptocurrency and anonymous transaction; as opposed to the present store of value model demonstrated by Bitcoin.
Nonetheless, as opposed to the widespread private transaction of Monero; TRON plans to integrate zk-SNARKS, to provide TRX users with the choice of anonymous transaction which is similar to Zcash’s process.
Justin Sun in an interview in December 2018, revealed about his intention of integrating zk-SNARKS in Q1 2019. He further added that upon giving users the option to carry out transactions privately adds another layer of security and functionality to TRON.
In this competitive environment of cryptocurrency and mainly the altcoin market, the struggle to find legitimate use ultimately validates the market capitalization and such features as anonymity might provide another layer for TRON.
TRON being one of the largest blockchain-based operating systems in the world has managed to establish TRX and the TRON network as a key promoter of decentralized applications, recording all-time high in daily users’ traffic earlier this week.
Privacy, DApps, and BitTorrent could provide yet another venue for TRON expanding market’s influence. Though the currency would experience tough competition from strong players such as XMR and ZCash, the expanding feature of TRON’s network could attract users to look out for an all-in-one cryptocurrency to opt.