- TRON CEO Justin Sun has revealed the launch date of TRON 4.0. The upgrade will be launched on July 7.
- According to Sun, TRON 4.0 will have the first protocol which offers privacy smart contract.
TRON CEO Justin Sun has revealed the official launch date for the fourth iteration of the platform. In an open letter to the community, Sun and the TRON Foundation announced that they will celebrate the second anniversary of the mainnet with the launch of TRON 4.0. The update will mark the end of the “Odyssey” era and the beginning of the “Great Voyage” era, according to the announcement.
TRON’s Great Voyage
The announcement states that the introduction of TRON 4.0 will mean a major transformation of the platform. TRON will evolve from a project focused on blockchain technology to a “trendsetter” for the industry. In addition, the platform will place greater emphasis on providing a user and business-friendly public blockchain. Sun expects TRON 4.0 to help build a new financial infrastructure for the next generation. According to the announcement it is also designed to become the entry point for financial institutions, businesses and a broad mass of new users into the blockchain industry.
To achieve this, TRON 4.0 will have the following features and improvements. First, it will have the first protocol enabling private smart contracts supported by a new virtual machine. The protocol will be “energy efficient and will be the most productive and secure protocol available” today. Furthermore, Sun said the smart contract privacy protocol was developed in one year by the TRONZ Foundation and will be an integral part of TRON 4.0.
On the other hand, the Delegated Proof of Stake (DPoS) consensus mechanism will be improved. The developers of TRON combined the “advantages of DPoS and PBFT (Practical Byzantine Fault Tolerance), which is supposed to reduce the block confirmation time from 57 seconds to 3 seconds, which enhances safety and circulation on the blockchain, according to the announcement.
The update will also introduce a new type of cross chain TCIP protocol. In this way, Great Voyage will be an era of interoperability with other chains in the TRON ecosystem. The developers will have three public networks, according to the announcement, to connect with the world and “start an era of communication between networks”. Finally, TRON 4.0 will bring an enterprise blockchain solution so that applications can be developed and deployed based on an enterprise’s needs. However, no further details were given.
As reported by CNF, Sun has been hyping expectations for TRON 4.0 in recent weeks. In late May, TRON’s CEO conducted a survey through his Twitter account to compare the project’s popularity with his competitor, Ethereum 2.0. Although some members of the crypto community claimed that Sun had manipulated the results, TRON 4.0 received 52% of about 100,000 votes.
(1/2) Open Letter on the Great Voyage: TRON 4.0
1. TRONZ Smart Contract Privacy Protocol
2. The New TPOS Dual-layer Consensus Mechanism
3. New TICP Cross-chain Protocol
4. Financial institution and enterprise blockchain solution
AND other updateshttps://t.co/61S9zMsTOc pic.twitter.com/Q3J1Tk049S
— Justin Sun (@justinsuntron) June 7, 2020