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- Justin Sun has announced the launch of a beta test version for shielded transactions using zk-SNARKs on the TRON blockchain.
- The technology will be optional and will hide both the recipient, sender and transaction amount on the public blockchain.
Currently there is a strong trend in the crypto scene. More and more crypto projects want to offer their users more privacy and are therefore investigating the introduction of zk-SNAKRs. The technology, which was designed by the developers of Zcash, offers the possibility to anonymize the transaction amount as well as the sender and recipient on a public blockchain.
Since the Sapling upgrade of Zcash, which reduced the storage requirements for private transactions by 97% using zk-SNARks, they have also become practical. It now appears that TRON and its founder Justin Sun are going to jump on the bandwagon and implement shielded transactions using zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) for the TRX coin.
Justin Sun announces beta test for zk-SNARK
As Justin Sun announced today in a tweet, TRON is about to launch its shielded transaction in a beta test. The private transactions are designed to hide the sender and receiver addresses, transaction input and output, and transaction amount.
(1/5) #TRON is about to beta-test its shielded transaction.🛡️⛓️
Shielded transactions hide:
1⃣Sender and receiver’s addresses;
2⃣Transaction input and output;
3⃣Amount transacted.— H.E. Justin Sun 孙宇晨 (@justinsuntron) December 17, 2019
For the shielded transactions, TRON uses the aforementioned zk-SNARKs technology to realize “fully shielded” transactions. As Sun wrote, TRON uses a multi-party computing (MPC) protocol, as does Zcash, to transparently and securely create zero knowledge proofs and prevent malicious attacks from shielded transactions.
In this regard, Sun further explained that the protocol works in such a way that only one participant needs to be honest to protect the integrity of the parameters (zero knowledge proofs). The process of generation will also be scalable so that as many participants as possible can contribute to the security of the proof:
This means that we can open the doors to anyone who wants to contribute! If you are interested, please refer to https://github.com/tronprotocol/tron-mpc-testnet.
At the time of writing, Sun did not specify an exact launch date for the public beta version. But we will keep you updated.
TRON’s private transaction will be optional
Sun’s plan to implement private transactions for TRON is not new. As early as December 2018, Sun spoke about the initial progress of the development. The TRON founder explained at the time that a higher level of privacy and anonymity is urgently needed in today’s data-driven society, as both websites and search engines monetize user data. This leads to a compromise of privacy that Sun wants to prevent as part of TRON’s vision of a Web 4.0 platform.
Sun also stated at the time that not all TRON transactions will be necessarily shielded. Instead, TRON intends to implement the feature as optional. He said that users should be able to decide if they want a private transaction.
Most recently, Tezos had announced to investigate the introduction of zk-SNARKS and expected to introduce it in 2020. Previously, Cardano had also shown interest in the zero knowledge proof technology. In addition, Ethereum is also focusing on greater interoperability with Zcash with the Istanbul hard fork.
The price of TRON (TRX) has dropped by about 3.3% in the last 24 hours, during yesterday’s price crash on the crypto market.
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