Justin Sun, founder and CEO of Tron Foundation, has announced that Tron Virtual Machine (TVM) will add a cutting-edge security function. This upgrade was proposed and approved by the Tron (TRX) community.
Zero-knowledge proofs will go live on Tron (TRX)
In his recent tweet, Mr. Sun disclosed that the 39th Proposal on Tron (TRX) network governance has been approved officially today, Aug. 14. This proposal introduced the implementation of zero-knowledge proofs technology into the Tron (TRX) blockchain mechanism.
In cryptography, zero-knowledge proofs are used for secure, peer-to-peer verification of some value.
Justin Sun is very proud of the implementation of the new feature. He underlines the significance of this community-driven initiative:
The #TVM that supports zero-knowledge proof verification is a major innovation project in TRON ecosystem and another milestone in the construction of the TRON ecosystem.
This proposal was published only three days ago. On Aug. 11, Mr. Sun invited all developers and enthusiasts to discuss the ZK-proof upgrade.
Crucial release for the Tron (TRX) ecosystem
This release brilliantly upgrades the level of security of the transactions in the Tron ecosystem. It allows for the activation of the Schielded TRC20 contract that supports the obfuscation of the transaction amount, source address and destination address.
ZK-proof implementation will be of particular importance for dApps developers. Now, Tron-based decentralized applications may guarantee a high level of privacy for users' data.
As covered by CryptoComes, Justin Sun emphasized that decentralized financial instruments are in the spotlight for the Tron ecosystem in 2020.
In addition, in three days, on Aug. 17, JUSTSwap—a native decentralized exchange on the Tron Network—will onboard its first traders.