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Justin Sun reveals new features and enhancements of TRON 4.0. If the upgrade succeeds TRON Network is going to lay a great challenge to its competitors.
TRON founder Justin Sun has provided a taster of what the TRON community can expect with the network’s forthcoming upgrade. TRON 4.0 will be the largest update yet to the smart contract blockchain, introducing a slew of new features and enhancements.
In a video elaborating on his grand vision of the TRON network, Sun emphasized three features that will be at its heart:
- Privacy: Users will be able to make anonymous transactions, and to convert privacy tokens to traceable assets if desired.
- Scalability: TRON 4.0 will be able to process more transactions, more quickly.
- Interoperability: TRON will evolve into a hub that will connect sidechains, enabling third party blockchains to integrate with TRON and leverage its network effects.
In addition, TRON 4.0 will be more appealing to enterprises. Up until now, the network has attracted consumers and gaming developers primarily; the next upgrade will change that by introducing customizable blockchain solutions for businesses.
Crypto Networks Get a Fresh Coat of Paint
TRON’s network upgrade will arrive in the same quarter as rival networks NEO and Ethereum are undergoing major updates, and when new blockchains such as Elrond and Matic are launching. The stakes have been raised, with mature networks such as Ethereum and TRON engaged in a battle for users, developers, and benchmarks that validate their technical superiority.
Here’s what Justin Sun has to say about the main components of TRON 4.0:
“We will provide zk-SNARK technology inside of the TRON network as an option for developers… So if a customer wants privacy, we will give them privacy”.
According to Sun, these transactions will be “completely anonymous,” preventing third parties from tracking them.
“TRON will introduce a Byzantine Fault Tolerant mechanism into the TRON protocol this year. This will dramatically improve the scalability… I think after this upgrade … we will far outperform other protocols”.
Sun sees this achievement making TRON “the only choice for dApps and other token developers, if you really want to enjoy a cheaper, free and safe experience for your customer and the community”.
“TRON is a well-known blockchain, but if you want to have your own blockchain, you can also build on top of TRON. So basically, in the future TRON will become a hub and every other blockchain can plug into TRON hub and communicate with each other. So TRON will not only become a blockchain but the mother of all blockchains”.
On enterprise adoption:
Sun acknowledges that major enterprises typically require custom blockchain solutions. With TRON 4.0, this will be possible.
“For example, if a large financial institution wants to build a blockchain but they don’t want their books to be traced by the public, they can have a privacy feature-enabled blockchain, but this blockchain can plug into the TRON hub, which means they can communicate with other blockchains in the TRON ecosystem”.
Faster, Stronger, Slicker
If Sun’s vision of Tron 4.0 comes to pass, the network should be able to lay a challenge, not only to nearest competitor Ethereum, but also to interoperability protocols such as Cosmos and enterprise solutions like Hyperledger. It is unlikely that businesses will flock to TRON in their droves, or that version 4.0 will attract privacy purveyors en masse. The introduction of these features, however, will extend TRON’s value proposition, making it a blockchain-of-all-trades that can be deployed for a myriad of purposes, for consumers and businesses alike. Most of the items on Sun’s wish list are scheduled for introduction in Q3, meaning the TRON community shouldn’t have to wait long to put the revamped network through its paces.