The developers of Tron (TRX), one of the largest platforms for building and deploying decentralized applications (dApps), are reportedly planning to release a set of upgrades and new tools to enhance the blockchain network’s functionality.
As noted by Misha Lederman, the co-founder of IAmDecentralized.org, a platform that is being created to support the ongoing development of decentralized technologies, the Tron blockchain ecosystem is set to deliver the following “major development”:
- “BitTorrent Speed, $BTT,”
- “Institutional-friendly multi-signature & account management,”
- “USDT-TRON stablecoin launch on #TRX blockchain,”
- “Implementing privacy option for transactions.”
Lederman, who’s known for being one of the most vocal supporters of Tron (especially on Twitter), revealed that Tron’s major developments (listed above) will be launched in the “coming weeks and months” of Q2 2019.
"BitTorrent Speed" And Multi-Sig Wallets Launched
After acquiring BitTorrent last year for $140 million, Tron’s userbase may have increased significantly as the peer-to-peer (P2P) file sharing solution reportedly has more than 100 million users. In order to improve the existing functionality of BitTorrent and its native BTT token, Tron’s developers are launching “BitTorrent Speed,” an application that will compensate network participants in BTT in exchange for providing bandwidth and seeding.
On February 24th, Tron founder Justin Sun had announced (via Twitter) that the following set of updates would be integrated on the dApp development platform (Tron’s version 3.5):
- “hard fork upgrade” (already activated on February 28th),
- “Multi-signature [wallets] and [new] account management features for institutional investors,"
- “Dynamic energy adjustment to real-time network performance,”
- “50% up performance & res usage,”
- ”Better [virtual machine] VM safety, events server for dApps.”
As explained by Sun in a video he posted from his official Twitter account (on March 7th, 2019), Tron’s partnership with Tether Ltd., the developer of the world’s first and largest stablecoin (USDT) involves the development of a Tron-based USDT token that offers “TRX holders a new way of value storage, provides dApp users a new way to play [or access] dApps, and increases legitimacy with institutional investors.”
Adding zk-SNARKS To Tron's Ecosystem
Moreover, the partnership between Tether Ltd and the Tron Foundation will involve the creation of a new TRC-20 compliant USDT stablecoin that will provide interoperability with applications and protocols across Tron’s ecosystem.
Notably, Tron’s development team is planning to integrate zCash’s zk-SNARKS privacy technology - which is intended to provide Tron’s users the option to conduct private transactions.
During the “Bad Crypto” podcast, Sun revealed why he is planning to incorporate the zk-SNARKS on the Tron network. He remarked:
People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that and limit how much data you are required to share.