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Fast Facts: TRON 4.0

TRON 4.0 also named Great Voyage is set for July 7th!

Let’s take a quick look at what Tron is, and a quick recap of this update called Great Voyage.

This is by no means a full overview but a quick snapshot of the coming upgrade. At Huobi, we strive to educate the community, and therefore most technical terms will be defined so you can learn more about these concepts.

What is TRON/ TRX?

Decentralize the Web TRON is dedicated to building the infrastructure for a truly decentralized Internet. The TRON Protocol, one of the largest blockchain-based operating systems in the world which offers scalability, high-availability, and high-throughput computing (HTC) support that serves as the foundation for all decentralized applications in the TRON ecosystem. It also provides better compatibility for Ethereum smart contracts through an innovative, pluggable smart contract platform.

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  1. TRONZ Smart Contract Privacy Protocol Support ZK-SNARKS. Allowing the smart contract to be more private to keep privacy top of mind for your transactions and more.

What is ZK-SNARKS?

Zk-SNARKS stands for a zero-knowledge succinct non-interactive argument of knowledge. Basically, it is a privacy feature that allows no interaction between the prover and verifier.

2. New TPOS Dual — Layer Consensus Mechanism combining the advantages of DPoS and PBFT thus reducing block confirmation times from 57 seconds to 3 seconds. This will increase transactions per second meaning you can send transactions faster to decrease waiting for confirmations.

What is DPOS?

Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. DPoS is designed as an implementation of technology-based democracy, using the voting and election process to protect the blockchain from centralization and malicious usage.

What is PBFT?

Practical Byzantine Fault Tolerance is an excellent consensus algorithm for enterprise consortiums where members are partially trusted.

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3.New TICP Cross-Chain Protocol that will usher in a cross-chain era for the Tron ecosystem.

What is a cross-chain?

A cross-chain is the interoperability between two relatively independent blockchains. In other words, it allows blockchains to speak to one another because they’re built in a standardized way.

4.Customized blockchain-based apps for institutions and enterprises. Developers will now be able to set up a customized application chain to solve problems in a variety of business cases.

That's the quick fast facts about the new TRON 4.0 upgrade happening on 7/7/2020.

What project upgrades would you like to see us cover next?

Send us a message on Twitter to let us know at@HuobiGlobal!

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Risk Reminder:

1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.

2. Huobi Global’s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.

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