According to Justin Sun, the CEO of the Tron Foundation, they are ready to beta-test shielded transactions. This would allow the network to process private transactions that hide the sender and receiver’s addresses, transactions input and output and the whole amount transacted between parties.
Tron Tests Shielded Transactions
The last weeks of the year are becoming increasingly productive for some cryptocurrency projects. Justin Sun announced on Twitter a few hours ago that they are working on shielded transactions for TRX.
(1/5) #TRON is about to beta-test its shielded transaction.🛡️⛓️
Shielded transactions hide:
1⃣Sender and receiver’s addresses;
2⃣Transaction input and output;
— Justin Sun (@justinsuntron) December 17, 2019
As he explained, these shielded transactions will use zk-SNARK, also known as Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. This allows transactions on the network to be 100% shielded and protected.
In addition to it, he stated that they are using a multi-party computation (MPC) protocol that allows them to work transparently and securely in order to prevent malicious attacks on shielded transactions.
Tron is a highly scalable and fast cryptocurrency that is being used in different decentralized applications (dApps) around the world. Users consider Tron is a very reliable digital asset that provides them with the features they need.
Furthermore, the protocol with its new privacy implementation will be highly scalable, which will allow the whole network to welcome as many participants as desired. In general, private transactions tend to be slower and include larger fees due to their larger size in the network.
In addition to it, Justin Sun said that developers can participate and contribute to the crypto project on GitHub. Those that want more information can easily request it via email.
There are other cryptocurrencies that have already implemented privacy features or that are expected to have privacy solutions in the future. For example, Monero (XMR) is the most popular digital asset with privacy features. Litecoin (LTC), one of the top cryptocurrencies in the market is also working on privacy features for users to enjoy more privacy while using the network.