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TRON Is “Getting Ready” for Version 4.0 – Here’s All You Need to Know

TRON Founder and CEO Justin Sun recently set Twitter on fire with the TRON 4.0 launch announcement.
Founded in 2017, TRON is mainly designed to exploit blockchain technology and the Peer-to-Peer network to erase the need for middlemen in its ecosystem. Fuelled by the ambition to create a fully decentralized blockchain, the platform has partnered with various firms and attracted many developers and users.
Sun’s latest tweet about TRON 4.0 triggered new excitement among blockchain users and fans. But what exactly will the upgrade entail? Read on to learn all there is to know about the imminent TRON 4.0 and how this could reshape the decentralized applications (dApps) race in 2020.
Sun’s Big Update TRON 4.0
Shortly after Sun revealed the imminent upgrade to his platform, the company’s Tecompany’sor Marcus Zhao explained via a tweet that TRON 4.0 would have new features such as a 2-level consensus mechanism, inter-chain collaboration, and an organizational version of the network.
The exact date and time of this upgrade have not yet been announced, but TRON 4.0 will have new and exciting features that will boost privacy on the blockchain.
The TRON 4.0 announcement is most likely to be Justin Sun’s answer to Vitalik Buterin’s Buterin’s ETH announcement, which has been encountering some delays for the launch of ETH 2.0.
With the delays of ETH 2.0, it is TRON 4.0 that is ahead of the dApps race, and there could be key features that will be added soon in the following weeks and months to come.
TRON surely still needs to do a lot compared to other blockchains that already offer some solutions not permitted by TRON, such as the prominent Non-Fungible Tokens (NFTs) used in games.
Many are hoping that Sun’s significant plSun’so upgrade of the blockchain to version 4.0 will bring in some much-needed improvements and features that will make the platform more attractive to developers and users.
TRON Now Focused on Privacy
In 2018, Justin Sun was considering implementing privacy on the blockchain using the ZK-snarks. The TRON founder stated that integrating zero-knowledge proof into the network was the best way to improve the privacy of the whole system.
The implementation of the privacy feature was initially slated for Q1 last year, but delays have ensured that the upgrade will now be released in the forthcoming 4.0 version.
TRON plans to use zk-SNARK tech to bolster the blockchain’s privacy as announced in Dec. 2019 that they would launch their shielded transaction in a beta test.
Sun explained that these private transactions are designed so that the sender and receiver addresses, transaction input and output, and transaction amount are kept top-secret. However, the TRON team hasn’t confirmed that the upcoming version will use the zk-Snakrs.
TRON is currently in version 3.0, a phase that introduced the TRON Virtual Machine (TVM) and allowed the creation of smart contracts and TRC20 tokens, hence marking a crucial stage in the blockchain’s version 4.0 will introduce other new capabilities such as privacy features supported by TVM, the second level of consensus, the possibility of cross-chain, and a section dedicated to corporate use cases.
Will TRON 4.0 Rival Ethereum 2.0?
It is worth pointing out that the Ethereum community is also presently working hard to implement ETH 2.0. So Is TRON trying to surpass Ethereum 2.0 with its version 4.0 launch?
It seems like TRON wants to outdo Ethereum, especially in the dApps category and other features, such as scalability and privacy.
The TRON blockchain has always compared itself to ETH, the world’s 2nd biggest blockchain, and Justin Sun even considers his platform superior to Ethereum in terms of privacy, scalability, and dApps.
The long-awaited switch to the proof-of-stake algorithm on ETH might be postponed once again as developers grapple with bugs. Meanwhile, competing blockchains such as Tezos and Zilliqa have already successfully ventured into staking.
Nevertheless, Ethereum did gain on EOS and TRON in the decentralized applications because of the explosive growth of the decentralized finance ecosystem, according to a recent DappReview report published in April 2020.
BitTorrent CEO has outlined the main features TRON 4.0 will own, and he mentions that the upgrade focuses mainly on privacy, followed by blockchain interoperability and scalability.
Keywords for #TRON 4.0: Privacy, blockchain interoperability, high scalability, and enterprise applications. https://t.co/JnRExswvi7
— H.E. Justin Sun?????? (@justinsuntron) May 23, 2020
Interestingly, Ethereum 2.0 also focuses on improved interoperability and scalability, which has led some to accuse TRON of a feeble attempt to match its rival.
For instance, a blockchain enthusiast by the name of Crypto Whale tweeted:
When you try competing with ETH 2.0, so you invent some bogus update for your shitcoin. ??♂️
— Mr. Whale (@CryptoWhale) May 23, 2020
But still, with the imminent launch of version 4.0, TRON seems determined to herald the next generation of Internet entertainment and lead the dApps race with its upcoming 4.0 upgrade.
Author’s Thoughts
Justin’s announcement and the projected launch of ETH 2.0 in Q3 of this year look like we are about to witness a key blockchain evolution in 2020.
Ethereum 2.0 launch was supposed to take place in January this year, but the platform’s proof-of-stake consensus faced delays due to unresolved technical issues.
Sun and his TRON blockchain may have a golden opportunity to overtake their rival in the dApps race if they can roll out their 4.0 version with minimal delays.
With an operational product and a fast-growing user base, TRON may rise to new heights with the imminent launch of its 4.0 version, potentially surpassing ETH in developing dApps.
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