TRON is a platform blockchain that utilizes smart contract technology and a delegated proof-of-stake consensus model to aid in establishing what the whitepaper describes as a “truly decentralized Internet.”
The fourth iteration of TRON will be launched on the 7th of July. The key feature of this iteration will be a new smart contract privacy feature based on Zk-Snark technology.
The project gained popularity in 2018 when the Tron Foundation purchased the BitTorrent peer-to-peer file sharing platform. According to recent data, the BitTorrent platform has almost 12.9 million monthly active users.
Tron smart contracts run on a Bandwith and energy system. It provides an option either to stake TRX tokens, or to forego standard TRX based individual smart contract operation gas fees.
As long as the users are willing to freeze tokens for a period of time, this system allows them to perform transactions on TRON without paying any fees. For example, a user on a TRON smart contract-based gambling Dapp, provided they have enough TRX on their wallet/Dapp browser, can freeze tokens and conduct multiple fee-less transactions during a gaming session
Constituents of Tron blockchain
The Tron blockchain is made up of three layers, a core layer, an application layer, and a storage layer. The Core layer computes instructions provided in either Java or the Solidity smart contract language and executes programming logic. The application layer is utilized by developers to create applications powered by the TRX digital currency. The storage layer is designed to store blockchain data and network state data, which preserves the status of smart contracts.
According to a report, the protocol upgrade “will not make TRX anonymous in any way, nor will it have added privacy features.”
TRONZ plans to build three types of zk-SNARKs for TRC-20 smart contract i.e. mint, transfer, and burn.