Release of the First-Ever Smart Contract Privacy Protocol on July 7th
Following nearly a year’s worth of effort in research, development, and testing, we are excited to announce that the TRONZ smart contract privacy protocol will officially go live as an integral part of the TRON 4.0 protocol on July 7th, 2020 (SGT). The protocol will mark the first time for a smart-contract powered blockchain to implement zk-SNARKs.
In January, TRONZ Foundation held its first non-profit MPC Torch Project, which included the participation of a total of 196 crypto community members from various countries and industries. Participants outnumbered those of the Zcash MPC Project, leading it to become the world’s largest MPC Project while providing the initial credible parameters for privacy protocol. For transparency, all results will be open-sourced, and we will continue to take measures in developing privacy protocols for blockchain growth.
We have completed a public test on shielded transactions, deployed TestNet, and implemented instructions for zk-SNARKS in TVM. On July 7th, 2020, the TRONZ Smart Contract Privacy Protocol will be released as a feature on the TRON (TRC20) network.
TRON has been working steadily on developing a safe public chain in compliance with global regulations and policies. Therefore the TRON 4.0 upgrade will not make TRX anonymous in any way, nor will it have added privacy features. TRONZ Smart Contract Privacy Protocol will fully support all TRC20-standard tokens on the TRON network, whether issued or not. Developers can adopt the shielded transaction feature simply by implementing the smart contract. These protocols are groundbreaking developments in smart contract development.
As TRONZ Foundation has adequate funds and very active developers on board, it currently does not intend to issue any tokens. We have decided to make the TRONZ Smart Contract Privacy Protocol fully open-source, available to everyone free of charge. Furthermore, the TRONZ Foundation will dedicate sufficient capital to helping develop the TRON community. The team will not only continue to work towards our vision of blockchain privacy but also refine our technologies to support the TRON ecosystem with 6 million TRON community users.
We would like to express our sincere gratitude to Justin Sun, founder of TRON, for his support of the TRONZ Smart Contract Privacy Protocol. We would also like to thank TRON Foundation for their assistance with this project, which enabled us to fully dedicate ourselves to the development of the protocol and deliver the safest and most-efficient zk-SNARKs technology in blockchain. We look forward to unveiling the protocol on July 7th!
The TRONZ team consists of TRON community developers with extensive experience in cryptography, advanced computer science, and specialization in cryptographic protocols. The zk-SNARKs based TRONZ Smart Contract Privacy Protocol developed by the TRONZ team on the TRON network is the safest, most efficient, and least resource-consuming privacy protocol and the world’s first privacy protocol to be built on a smart contract powered blockchain.