Governance of the TRON Ecosystem- Crypto Academy S4W7-Homework Post for professor @yohan2on

Hello everyone, it’s a great pleasure to partake in this week’s crypto with you professor @yohan2on. This week, we are discussing The Governance of the TRON Ecosystem. An important topic to be discussed in the area of crypto. Let's set the ball rolling by tackling the tax that has been given by our professor.

Question 1

Who are Super Representatives, SR partners and SR candidates? (The Governance of the TRON Ecosystem)

Let’s first talk about in general what the Tron Ecosystem is about

Tron Ecosystem

The TRON Ecosystem is a great working blockchain platform that is designed by blockchain developers around the world, the development is based on the philosophy of decentralization.

In the TRON Ecosystem, there include decentralized applications(dApps), public chains, wallet clients, and so on. All these are designed in common to keep the stability of the ecosystem.

Another aspect was the creation of smart contracts that the Ecosystem allows the developers to do, also, the creation of dApp tokens that runs on the blockchain is another factor that keeps the Ecosystem a robust one. Lastly, I would mention the fact that it has its token called the TRX(Tronix) Token which is widely used within the blockchain Ecosystem.

The most important factor now is, the blockchain is built based on the DPoS. The Delegated Proof-of-Stake consensus algorithm. This works by choosing or selecting a group of people known as the delegates who are responsible for the creation of blocks in the blockchain network and this group of people is known as the SR (Super Representatives).

Key Points

• TRON is built based on a blockchain digital platform that is said to host entertainment applications

• It has its token or cryptocurrency called the Tronix or TRX

• The Tronix is also ranked among the 31st cryptos in the market cap.

After talking about the blockchain platform, I would now want to explain in-depth, what Super Representatives, SR partners, and SR candidates are

1. Super Representative
The word Super Representative is from the fact that, in the Tron working environment, the SR plays a major role in the governance of the Ecosystem thus, ensuring that basic functions are rendered to the Ecosystem. Such as the generation of blocks and also bookkeeping as well as obtaining its corresponding earnings.

The Super Representatives are nodes who are selected and chosen from the Super Representative Candidates. The TRON blockchain environment has a quite good working Super Representatives SR, they are 27 in number and above I have already listed the roles they play in the Ecosystem.

Voting of the SR is mostly done in every Six hours duration and to explain more, the associates involved are ranked accordingly. Those with the highest votes, thus from 1 to 27 are those selected as the Super Representatives, and those with voting marks around 28 – 127 are referred to as the Super Partners.

Where the voting process is done by the Token Holders in the TRON Blockchain Environment. These token holders are those who stake the TRX tokens who are considered eligible for voting when the voting process is set to begin.

There are always rewards that come in every work station, that is why the TRON blockchain network rewards its hardworking super representative with 32 TRX in the validation process of blocks

2. Super Representative Partners
Here in the Super Representative Partners, they are also considered as part of the SR candidates, I mentioned earlier, those who can get a voting class of 28 – 127 are those considered as the SR Partners.
During the voting process, failed nodes that could not make it to the top that is 1 – 27 but fall with 28 – 127 are those tagged as the Super Representative Partners. As soon as voting completes and they do not make it to the top, they get selected automatically. This voting process is also done by the Tron Blockchain Token Holders. As mentioned already, these token holders are eligible for voting as they are capable of staking TRX Tokens.

3. Super Representatives Candidates

These Super Representatives Candidates are the nodes I mentioned earlier. There are about 147 nodes that are voted by Token Holders in the Tron Blockchain. Updates of voting are released after every six hours, and after every voting, those who make it to the top sports, that is 1 – 27, are those selected as the super representatives and again, those who don’t make it to those spots and within 28 – 127 are automatically selected as the super representative partners.

As the Super representative candidates make a selection, they are also get rewarded with TRX worth 115,200. And it is shared accordingly to the votes that were obtained by each candidate during the voting process. Also, some candidates will have to be on standby once they are not able to make it to the top 1 – 27 and 28 – 127. So those around 128 – 147 are those on the stand until the next voting begins.

Question 2

What’s the difference between DPOS and POS consensus mechanisms?

The Proof-of-Stake (PoS) Consensus mechanism

This was at first got theorized first on Bitcointanlk platforms in the year 2011 July. The motive was a way of verifying blocks to be more efficient than employing the PoW consensus algorithm. The issue of using so many computers in competing and expanding the energy that could confirm the network data in the case of the PoW is changed in the case of the PoS where the data verification is just assigned to nodes that have been staked or locking the tokens as some kind of collaterals in the case of the PoS.

source

Delegated Proof of Stake (DPoS)

This consensus algorithm is a great and popular evolution of the PoS theorem. In this mechanism, the users of the blockchain network have the liberty to vote to elect some delegates who are responsible for the validation of blocks. The delegates in this case are also called the witnesses or the block producers.

So basically, using the DPoS mechanism, one will be able to vote on a delegate by staking your tokens to the pool and then you link them to a particular delegate. Also, the selected delegates receive some rewards in a form of transaction fees and they are shared accordingly to the percentage of votes cast.

source

Differences between Proof of Stake (PoS) and Delegated Proof of Stake (DPoS)
Looking at these two, it's more or less like, the DPoS is an advancement of the PoS. But of cause, there are still some major differences that set in. I will discuss this based on

1. Scalability
2. Security
3. Energy Usage

1. In the Delegated Proof of Stake, we can confirm a very high level of security using this algorithm. This is as a result of how the delegates nodes are chosen which is able to prevent hackers from invading the system

2. Also, the PoS is more scalable than that of the DPoS as in the case of the PoS, it is more adaptable and since nodes are chosen based on the amount or number of staked tokens but in the case of the DPoS, it is solely dependent on voting as a way of selecting the delegated nodes.

3. In the DPoS, there is less amount of energy that is consumed which is the most important reason for its development while in the case of the PoS, there is a huge amount of energy that is consumed in this type of mechanism.

Question 3

Write a Step by Step tutorial showcasing how to stake/freeze TRX and vote for SRs

Super Representative Voting
I mentioned in my earlier summary that, one can only be part of the voting process if you are staking your TRX. You are eligible for voting if you stake your TRX token.

1. I will illustrate how the voting process is done on the Tronscan website. But before you can do that, you will have to connect your TronLink wallet to the platform in other to make access of your wallet to the platform.
   

2. Once it loads the site, you will have to select the wallet you will use, thus, the wallet type, I am using the TronLink wallet which is what I have chosen.
   

3. The next thing to do is stacking before voting can be done. In other to vote, you will need the energy to vote, so you will have to stake the tokens to get the energy to vote, and below are the process shown in the screenshots.
   To do this, select the vote option from the governance tap.
   

4. Once the page loads, you will select voting and then click on obtain to dedicate a portion of your TRX to the voting pool or stake pool. This will give you the energy you require for the voting process. I already have some energy in the pool based on previous taxes by another professor. But I will still go through the process.
   

5. The next thing to do is to put the amount of TRX tokens you want to stake. Once you put the amount, you will then click on stake
   
   

6. In the next window, you will have to confirm the transaction. Thus, by clicking on the sign button that appears or pops up. This will now connect the transaction to the wallet.
   

7. Our TRX token has been staked and therefore, the node can now proceed with voting.
   

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1. In this regard, I went for JD Investment who’s in the second position, and also has an APR of 6.43%. I staked 9 TRX for JD Investment.
   

2. The next thing to do is to sign in, this will grant access through your TronLink wallet.
   

3. The voting has been completed, and the 9 TRX has been voted to the JD Investment.
   

CONCLUSION

The Tron blockchain as I made in my summary is a great blockchain with so much exciting and entertaining applications.
Also, we have learned how the validation and generation of blocks is being the responsibility of the Super Representatives the SR

Also, the voting process is another key important thing about this blockchain platform where candidates will have to stake their tokens in the pool in other to undergo the voting process.

Anyone who stakes his or her tokens in the pool is eligible for voting. Above all, this was a great and interesting topic for the week, and I enjoyed mak9ng my research around. I will like to give many thanks to the professor for such a great choice of topic for the week.

Thanks for reading my work……!!!!

Screenshots
Lecture-Note
Reference
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