Steemit Crypto Academy | S4W7 - The Governance of the TRON Ecosystem
This is a lecture about the governance of the Tron Ecosystem. I have learned about the working of the Tron ecosystem. Professor explains well but at the end of the lecture, a few questions are mentioned for students for further understanding of this topic. I try to explain this topic in my post I hope you like it.
Who are Super Representatives, SR partners, and SR candidates? (The Governance of the TRON Ecosystem)
Tron ecosystem added several implementations into his ecosystem to make this system more efficient and scalable compared to others. In the way of development, Tron added the Delegated Proof of Stake Algorithm in his ecosystem. In this algorithm, validators of transactions create blocks after the selection of voters. Validators are selected on behalf of the voting of users at the Tron ecosystem.
In this system, everyone is not able to get a vote and validate the transaction. In this system, validators are only able to validate the transaction, if they stake their Tron coin into the Tron ecosystem. Further in this system, there are three main elements present. One is Supper Representatives and Second is Supper Representatives Partners, and the third one is Supper Representative Candidates. We will discuss the below section.
Who are Supper Representatives (SR)
In the Tron ecosystem, the delegators are selected by the users of the Tron ecosystem for validation of transactions. The first place that is held by Super Representatives. The numbers that are included in SR are from 1 to 27th. These are the user who gets selected for validation of transactions on the basis of how many coins they have staked.
Next, we will understand that how many blocks are created and how much time they are required for creation. In the Tron ecosystem, the block is created every three seconds. On every block creation, the Supper Representatives get 16 TRX as a reward. In every minute, the 20 Blocks are created. And in six hours a total of 7200 blocks are created. On the behalf of every block, the SR gets 16 TRX. The total number of rewards that are received by the top 127 validators according to their voting is 15,200 TRX.
Who are Supper Representatives Partners (SRP)
In the Tron ecosystem, Supper Representatives Partners is lies between the 28 and 127. Partners are selected after the selection of Supper Representatives. This selection is automatically done.
They were also voted by Tron users and get selected for SRP. The voting and rewarding system are the same as SR, But they are not able to get reward of block in which they are not involved in the creation process.
Who are Supper Representatives Candidates (SRC)
Supper Representatives Candidates are placed after the partners. Supper Representatives Candidates lie between 128 to 147. Validators that lie in this slot are failed to get a position in the above segments like SR and SRP. These validators are also getting selected and voted by Tron users and holders. The number of rewards generated on the behalf of validation is 15,200 TRX. This reward is distributed among all validators according to their voting capacity.
Whats the difference between DPOS and POS consensus mechanisms?
Before going to dive into differences, in short, we will understand the concept of both Proofs of Stake and Delegated Proof of Stake. First, of all, we understand the concept of the consensus algorithm. Consensus algorithms are used by the different blockchain to validation of transactions.
There are many consensus algorithms are available in the market that is used by different blockchains. Blockchains adopt consensus algorithms on the basis of their taste and the nature of the project. They enhance the scalability and performance through these consensus algorithms.
What is the Proof of Stake consensus algorithm?
Proof Stake is a consensus algorithm in which miners get the amount of authority for transaction validation on the behalf of staking coins. This algorithm is a good alternative to a proof of work in which the validator who installed a good mining mechanism gets the authority of transaction validation. In the case of Proof of stake, users acquire the authority of validators on the basis of how many coins they have staked.
Less coin staked means less validation opportunity and higher staking means the high validation authority. If user X staked 10 percent of the coin and user Y staked 40 percent of the coin. User X has the mining authority of 10 percent and user Y has 40 percent mining authority. It means more staking get more mining opportunities. Less staking acquires less mining opportunity. The blockchains that use POS algorithms are DOT and ADA.
What is Delegated Proof of Stake consensus algorithm?
Delegated Proof of Stake is a consensus algorithm that is designed by Daniel Larimer. It is a good alternative to Proof of Stake. In this algorithm, the miners get a chance of mining through voting that is getting from the token holding. It is only for those blockchain tokens that use the DPOS algorithm. The more tokens a miner has meant the more voting power.
The transaction is validated by the validators who are elected by the user of the blockchain on the behalf of delegated token that the validator has. Validators use the token delegating power for voting purposes for getting selected by the users of blockchain. The more coin the delegator has means the more power validator have for getting selected. The blockchains that use the DPOS algorithm are Steem and EOS.
| PoS | DPoS |
|---|---|
| It is an abbreviation of Proof of Stake | It is an abbreviation of Delegated Proof of Stake |
| Validators are get selected on the behalf of their staked coin | Validator are acquiring mining opportunity on the bases of votes they from user on the behalf of delegation |
| The speed of transaction validation is higher than PoW but less then DPoS | The speed of transaction validation is higher than PoS |
| It is good alternative of Proof of Work | It is a good alternative of Proof of Stake |
| High energy is required to validate the transaction as compared to DPoS | Less energy is required to validate the transaction as Compared to PoS |
| It is less secure than DPoS | DPoS is more secure algorithm than PoS |
| In Proof of Stake, Validators collect coins to getting more validating powers | In DPoS miners do more delegation to acquiring the more votes. |
Advantages of PoS
- We can earn rewards by just staking our coin from the network.
- It does not need to install a mining machine.
- It is an environment-friendly algorithm.
Disadvantages of PoS
- Security of PoS is low because hackers only need 51% cryptocurrency part to get access.
- In POS, validators reinforce the concept of hoarding.
Advantages of DPoS
- We can earn rewards without staking.
- Scalability is higher than PoW and PoS.
- Security of DPoS is high, voters can easily detect the malicious delegator.
Disadvantages of DPoS
- The number of delegators increased caused the system to become less decentralized and less secure.
- In DPOS, coin holders are not taking part. Due to this cause small number of validators making decisions for many users.
Write a Step by Step tutorial showcasing how to stake/freeze TRX and vote for SRs.
In this question, I will discuss the process of staking and freezing TRX on the Tron Link Wallet. I explain the process with practical steps.
How to Freeze TRX?
I chose TronLink Wallet for staking the TRX. You need to do the following step for staking the TRX.
- Open the TronLink Wallet
- Click on the Freeze Button located at top right of landing page.
- Next, the form is open. Here first, you need to enter the amount of TRX that you want to freeze.
- After Enter the TRX amount Click on the Freeze Button at the center bottom.
Step:3
- Next, you need to confirm the transaction by clicking on the Confirm Button as shown in the figure.
- For security purpose application require a password for freezing TRX. After entering the password our TRX Freeze successfully as you can in the figure.
Here our TRX is frozen successfully
How to get Vote for SR?
I chose TronLink Wallet for getting the vote for SR. You need to do the following step for getting the vote.
- Open the TronLink Wallet
- Click on the Vote Button located at the top right of the landing page.
- Next, you need to select your SR platform. I select the Binance Staking.
- Click on the Vote Button as shown in the figure.
- After clicking on the Vote button, we need to enter the amount of TRX in the text box as shown in the figure.
Step:3
- Next, you need to confirm the transaction by clicking on the Confirm Button as shown in the figure.
- For security purpose application require a password for freezing TRX. After entering the password our TRX voted successfully as you can in the figure.
Voted Successfully
Tron ecosystem continuously added functionality to his blockchain system for enhancing the performance of the system. In this way, they use Delegated Proof of Stake that makes his system more scalable. In this algorithm, There are 27 top supper Representatives that are chosen as transaction validators by the Tron users. After that Supper Representative partners are placed.
They are hundred in number. They are automatically selected after the selection of Supper Representatives. After that SR candidates are placed they are twenty in numbers. Block creation time on the Tron network is 3 seconds. On every block created the reward of 16TRX is received by the validator.
The round of block creation is about six hours. The total number of coins is 15,200 TRX that are distributed over all the TRX validators according to their voting percentage. Overall this is a good lecture by the professor. I have learned many things about the Tron network and its works. Thank You.
Cc:
Professor: @yohan2on
Author: @noshi
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