Tron pioneers new “Guinness world record” anonymous blockchain technology

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Tron

It seems that, according to Tron leaders, the company has more or less solved the ‘Byzantine generals problem’ when it comes to anonymous blockchain transactions.

 

A press release today shows how Tron is excited to pioneer a new system based on a protocol called “zk-SNARKs” which stands for: zero knowledge succinct non-interactive arguments of knowledge systems, in order to maintain privacy for blockchain transaction partners.

 

Apparently, this technology is built on a system called multiparty computation (MPC) which sets up joint computation activities with a limited authentication and identifier footprint.

 

Company heads are playing some things close to the vest, according to coverage by Andrey Shevchenko at Cointelegraph.

 

“While the team claims its implementation is the ‘most efficient, and least resource-consuming privacy protocol in the world,’ no technical details were released,” Shevchenko writes today.

 

As for the underlying zk-SNARK process, that’s something that’s been covered in tech reports on various stakeholder activities.

 

“Put simply, a zero-knowledge proof is a situation in which each of two parties in a transaction is able to verify to each other that they have a particular set of information, while at the same time not revealing what that information is,” writes Jake Frankenfield at Investopedia. “For most other types of proof, at least one of the two parties must have access to all of the information, meaning that a zero-knowledge proof is a deviation from the norm.”

 

However, it turns out Justin Sun had been teasing the new project for weeks, as in a report by CryotoBriefing earlier this month:

 

“Sun revealed in December that TRON will use zk-SNARKS and shielded transactions to hide transaction data — such as sender and recipient addresses, inputs and outputs, and transaction amounts,” Mike Dalton wrote Jan. 6. “TRON will also use a system called multi-party computation (MPC) to secure the system. The entire approach borrows heavily from Zcash.”

 

Will TRON’s new take on this take off?

 

What do you think? Let us know. 

 

 

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