Home Work Task on Bandwidth & Energy in Tron Fan Club || How To Reduce Transaction Fees On The Tron Network Using Energy
Greetings, guys! How are you doing? So, I've decided to participate in the task organized by @engrsayful today.
I'll submit my homework on the lesson after I finish reading it. Check out the lesson post if you want to participate in the homework.
What do you understand by Tron power, Tron bandwidth and Tron energy
Tron Power
To vote on the Tron network, we need to lock our TRX, this TRX locked is taken out of circulation and in return for this we get Tron power (TP), which is used to vote for SRs, similar to Steemit, where STEEM are locked to get voting power (SP)
Bandwidth
Transaction on TRX requires fee, the bandwidth on the other hand can be consumed instead of TRX, we obtained bandwidth whenever we lock our TRX (TP). Bandwidth has a lot of features as it's being used to vote, as transaction fee instead of (TRX), help to reduce the cost of fee Incase you're dealing with high transaction or smart contracts transaction.
Energy
Tron is popular for it's interaction with Dapp, henceenergy is required to perform transaction on Dapp, we obtained energy from Tron staking (locking TRX). This energy is consumed in any smart contracts transaction instead of TRX, Incase there are little or no energy a large amount of TRX will be consumed. To get more energy you need to stake more TRX, the higher the TRX staked the more energy you obtain.
Show us the process of gaining Tron Power and Energy
Open your Tron account, navigate to the Stake, select Energy to obtain energy, enter the amount of TRX and click on Next step and finally confirm with your password
The amount of Tron power and energy obtain is displayed below, For staking 14 TRX, I've gotten 14 Tron power and 340 Energy.
What are the factors on which the gaining of Bandwidth and Energy depends on?
The factor for gaining bandwidth strongly depends on the amount of TRX you staked provided that you've select Bandwidth as the resources reward, also every 24 hours the network grants every active users 1,500 bandwidth for free. The formula for calculating Bandwidth 👇
Bandwidth = Amount Of TRX you've Stake/Total amount of TRX frozen for Bandwidth resources * 43,200,000,000
The factor for gaining Energy on the other hand also depends on the amount of TRX staked provided that you've select Energy as the resource reward. The formula for calculating Energy 👇
Energy = Amount Of TRX Stake/Total amount of TRX frozen in the network * 50,000,000,000
Show us any amount of trx transfer without fee.
I'll be answering this question by first sending TRX to my friend, I'll show the screenshot and the details
Open my Tron account, navigate to the send section, paste the address and enter the amount of TRX.
To send 0.8166 TRX, it will cost 261 bandwidth as displayed in the screenshot below, I then confirm with my password.
Sending 0.8166 TRX cost zero fee instead 267 bandwidth was consumed.
Gain some energy first then show us any amount of USDT or BTT or NFT transfer on Tron network by using energy to reduce fee and compare the difference of fee with and without energy use
In this task, I'll be using NFT as an example, I'll be sending to a friend and I'll compare the difference with and without energy.
Navigate to NFT, click on Send, paste the address and enter the amount of NFT.
The Cost of Transferring NFT With Energy
Since I've 340 energy, to send 5,000 NFT, I'll be charge extra 8.10572 TRX and 341 Bandwidth.
The Cost of Transferring NFT Without Energy
For this task, I first unstake my Tron power so I can lose my energy, since I don't have any energy I decided to transfer 5,000 NFT to the same address this time without energy.
Transferring NFT without energy will cost extra fee compared to transferring with energy. From the above screenshot, transfer of 50,000 NFT will cost 8.2012 TRX and 339 bandwidth (without energy) compared to the fee of 8.10572 TRX and 341 Bandwidth (with 340 energy)
Note: I purposely unstake my TP to lose my energy resource mainly for this task.
Conclusion
Tron power is important to the Tron ecosystem because it provides bandwidth and energy, which may be used as fees when transacting on the network and interacting with smart contracts.
Energy, on the other hand, helps in the reduction of fees associated with transferring tokens other than Tron or interacting with Dapps, as exemplified by the fee reduction in transferring NFT.
This is my homework submission for @engrsayful lesson, thank you for reading.
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Your explanations are cool and well detailed.
Keep it up
This is a very interesting article concerning energy and bandwidth
Thank you for stopping by
Well explained man, as expected of my crypto mentor. Wow would you look at the time, the deadline is already upon us. I had no idea, how days run by these days oh well I would have to participate in the next one
You have done well by answering all question neatly. A job well done
You have successfully explained all the important facts related to this Homework Task. Especially you have included some additional details too. Hope you can get a higher eveluation.