Zero Knowledge Proof in the Tron Network Providing For Public And Private Transactions

Maheen Hernandez By Maheen Hernandez February 1, 2019 Off
tron trx

Tron is winning by a clear margin when compared to the rest of the cryptocurrencies in the top 30 positions. This crypto is the only one with a gain in double digit.

The ERC20 Wallet consulting service of Tron has been shut down today. And, it seems that Binance can be of some help.  Ever since the main net service of Tron has been launched, there was a section in the main net that provided TRX holders with a chance to swap their ERC20 Tron Tokens. This facility is now closed ending January 31, 2019.

The price of Tron; however, is following a descending support line on the weekly chart.  A bullish cross has not yet occurred. The MACD line is not positive, and it is moving up with strength.  The daily chart pronounces the bearish trend even louder.  There is a highly marked bearish divergence.  The first support area is at $0.018 through $0.019.

At the time of writing the news, Tron was trading at $0.0260.  While Tron has been delivering on major fronts after the coming of the main net, they are now looking to make Tron a privacy coin. If this happens, it is likely to make Tron the only widely used smart contract platform with privacy features. They are planning to make this happen by making use of ZK-SNARKs.

The shielded wallet will help with performing a transaction that is untraceable. This gets done without violating the consensus rules applicable to the blockchain.

In real-time transactions, clients might want some transactions to be public and some private.  Therefore, it is facilitated to provide the investors with the choice of whether they want to keep the transaction private or public. For whatever reason, clients are provided with the option of switching over between open and private modes.

Zero Knowledge Proofs will be used to improve the privacy factor in the network during the first quarter of 2019. The decentralized smart contract platform will disrupt the monopoly exerted by the high tech companies. Facebook, Amazon, and Google have been exerting their oligarchy over every internet user by making use of the user data to monetize from advertising revenue.  Now it will be possible for every investor to keep their data private and they will be able to monetize on their data; ZK-SNARKS is a step towards achieving that goal.

In just a couple of weeks, the value of TRON has doubled over the past two months. Tron based dAapps are showing consistent cash flows too. We need to see how the forthcoming days unfold.

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