Steemit Crypto Academy S4W7 -/The Governance of the TRON Ecosystem / professor @yohan2on

in SteemitCryptoAcademy3 years ago

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The Tron network uses delegated representatives to validate transaction and these representatives are rewarded with block rewards for their job and they also share some percentages of these block rewards among those that voted for them, thereby users earn for frozen their token. The most interesting thing about the Tron ecosystem is that you perform free transactions because the ecosystem charge's energy, which you acquire by frozen your TRX, but this could be dangerous if you don't have enough energy to pay for the transactions fee then your TRX will be burned.

The Tron blockchain use the DPOS consensus mechanism algorithm, which stand for Delegated Proof of Stake. It's a consensus mechanism that validates transactions through the voting casted by approved witnesses. As a user on the TRON blockchain you're allowed to participate in voting process, to qualify as a voter and cast your vote on the network, you must stake(Frozen) at least 1 TRX and this 1 TRX is equal to one vote i.e to say that the are directly proportional. This voting system are used to select validators hat will be validating transactions and since others have delegated their power to this validators, they will now sit down and watch, this validators are selected every 6hrs and they're selected based on the total number of votes they received.

On the Tron ecosystem, users acquire voting power by freeze (stake) TRX and the more TRX you frozen the more voting power you get, this simply means that, if a user fronze 100 TRX, that user will also have 100 voting power. On the Tron network, those who are being voted for to be selected as the validators are officially called REPRESENTATIVES. They're subdivided into different groups with different duties, such as those representatives that ranged from 1st to 27th are the SUPER REPRESENTATIVES group, this super representatives are in charge of governing the ecosystem on behalf of all the users on the network.

Furthermore, those representatives that are ranged from 28th to 127th are also called SUPER REPRESENTATIVE PARTNERS, i.e to say that after the first 27 have been selected, the next 100 representatives on the pool are the super representatives partner and the reminant which count from 128th up are also called SUPER REPRESENTATIVE CANDIDATES. The super representatives candidates can simply put as all the representatives who are eligible to be voted for i e that combination of all the representatives

However, the network rewards these representatives with block rewards and the rewards are giving to them with the Tron blockchain native token TRX.

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Note: frozen tokens can't be used for trading for at least 3days

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

DPOS

Delegated Proof of Stake is a consensus mechanism algorithm that was developed by a great developer who has developed many site's, he is also the developer of this platform steemit, and many other famous sites, he is name is"Daniel Larimer". Delegated Proof of Stake was developed to solve the problem of complex in communication that is a major setback in Proof of Stake (POS). DPOS can also be describe as a consensus mechanism algorithm which uses voting power of users. Steem is one of the cryptocurrency built using DPOS consensus mechanism algorithm.

The DPOS is more democratic than POS, representatives are selected from a pool to validate the block every 6hrs, which means that a representative that was selected to validate block 100 might not be among those selected to validate block 101, this ensures that it will be difficult to manipulate the network. In this algorithm, the users delegates their voting power (governing power) to the delegates who are selected from the pool in an election process and these users are rewarded for delegating their voting power by the representatives from their own rewards.


Proof of Stake (POS)

The Proof of Stake consensus mechanism algorithm is a consensus mechanism algorithm where validators are selected based on the total number of their stake, that is to say that users with higher stakes are selected as it's transactions validator, which are the people to govern the network. The Proof of Stake was a consensus mechanism algorithm that was developed to solve use of computing power in POW consensus mechanism algorithm. The POS give the governance power to only the rich people and this could be dangerous because they could use there wealth to manipulate the network to their favour. This algorithm don't consuming much energy in validating block transaction.

  • In Delegated Proof of Stake consensus mechanism algorithm, there are few people that is governed and validate transaction on the network. While in PoS consensus mechanism algorithm, there are more people involved in governing and in transaction validation.
  • Delegated Proof of Stake consensus mechanism algorithm was developed to enhance the activities of POS but POS consensus mechanism was developed for an improvement in Proof of Work (POW)
  • Delegated Proof of Stake consensus mechanism algorithm is more energy efficient compared to Proof of Stake consensus mechanism

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

Step 1:
  • Open the TronLink pro and from the dashboard click on freeze.

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Step 2:
  • Enter the amount of TRX you wish to freeze and click on the freeze button on the freeze interface.

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Step 3:
  • From the pop-up window, click on confirm to get the transaction confirmed.

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Step 4:
  • Enter your wallet login password

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Step 5:
  • Your TRX have been frozen

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How to vote for your desired Super Representative
Step 1:
  • From the dashboard click on vote, to enter the voting interface.

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Step 2:
  • Now select the Super Representative of your choice.

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Step 3 :
  • After selecting the representative, then click on vote

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Step 4:
  • Click on confirm, to confirm your transaction

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Step 5:
  • Enter the wallet your password

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Step 6:
  • voted for a Super Representative

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CONCLUSION

The introduction of DPOS and POS consensus mechanism algorithms was a big relief to the blockchain technology industry. These two algorithms were introduction to be a solution to the POS algorithm that is consuming huge computing power, etc. The Tron blockchain network is one of the fastest growing ecosystem and using DPOS consensus mechanism algorithm were users delegates the voting power to govern the network to a selected representatives who represents their interest.

These representatives are rewarded with block rewards and they also share some percentages of these block rewards among those that voted for them, thereby users earn for frozen their token. The most interesting thing about the Tron ecosystem is that you perform free transactions because the ecosystem charge's energy, which you acquire by frozen your TRX, but this could be dangerous if you don't have enough energy to pay for the transactions fee because huge amount of your TRX will be burned

I appreciate professor @yohan2on for taking us into the governance of the Tron ecosystem

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Do not use the #club5050 tag unless you have made power-ups in the last 7 days that are equal or greater than any amount you have cashed out.

Thanks for the information. Let me take a screenshot of your comment here and share it with my friends on the Telegram group
😊😍🥰👍

 2 years ago 

Ok thanks, the post about it wasn't clear and I think that's why many are understanding it as using 50/50. Please I advise that the post be edited with

"Do not use the #club5050 tag unless you have made power-ups in the last 7 days that are equal or greater than any amount you have cashed out."

Everybody will understand this and avoid spamming. Thank you.

Hi @eberechi10

Thanks for participating in the Steemit Crypto Academy
Feedback

Rating criteriaScores
Quality of presentation1/1.5
Originality2/2
Compliance with topic1/1.5
Clarity of language1/2
Quality of analysis1/2
#Club50500/1
Grand total6

Total| 6/10

Fairly done. Question 1 and 3 were well answered but Question 3 needed you to add more information. It would be much better if you went ahead to give illustrations for both algorithms. Thanks for taking the time to learn about the Governance of the Tron ecosystem.

Do not use the tag #club5050 if you have not powered up at least half of your total weekly steem rewards.

 3 years ago 

This you sir

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