The Governance Of The TRON Ecosystem - Crypto Academy / S4W7 - Homework Post For [yohan2on]

in SteemitCryptoAcademy โ€ข 2 months ago

๐“—๐“ฎ๐“ต๐“ต๐“ธ.! ๐“œ๐”‚ ๐““๐“ฎ๐“ช๐“ป ๐“•๐“ป๐“ฒ๐“ฎ๐“ท๐“ญ๐“ผ, ๐“ฃ๐“ฑ๐“ฒ๐“ผ ๐“ฒ๐“ผ @๐“ฎ๐“ฑ-๐“ผ๐“ฑ๐“ธ๐“ฑ๐“ช๐“ฐ ๐“ฏ๐“ป๐“ธ๐“ถ ๐“‘๐“ช๐“ท๐“ฐ๐“ต๐“ช๐“ญ๐“ฎ๐“ผ๐“ฑ. ๐“๐“ผ ๐“ช ๐“น๐“ฎ๐“ป๐“ผ๐“ธ๐“ท ๐“˜ ๐“ช๐“ถ ๐“น๐“ธ๐“ผ๐“ฒ๐“ฝ๐“ฒ๐“ฟ๐“ฎ. ๐“Ÿ๐“ธ๐“ผ๐“ฒ๐“ฝ๐“ฒ๐“ฟ๐“ฎ ๐“ฝ๐“ฑ๐“ฒ๐“ท๐“ด๐“ฒ๐“ท๐“ฐ๐“ผ ๐“ถ๐“ธ๐“ฝ๐“ฒ๐“ฟ๐“ช๐“ฝ๐“ฎ ๐“ถ๐“ฎ ๐“ฝ๐“ธ๐”€๐“ช๐“ป๐“ญ๐“ผ ๐“ถ๐”‚ ๐”€๐“ธ๐“ป๐“ด๐“ผ. ๐“”๐“ฟ๐“ฎ๐“ป๐”‚ ๐“น๐“ป๐“ธ๐“ฏ๐“ฎ๐“ผ๐“ผ๐“ฒ๐“ธ๐“ท ๐“ฒ๐“ผ ๐“ฑ๐“ธ๐“ท๐“ธ๐“ป๐“ช๐“ซ๐“ต๐“ฎ. ๐“œ๐”‚ ๐“ฌ๐“ธ๐“ท๐“ฝ๐“ฎ๐“ท๐“ฝ ๐“ฒ๐“ผ ๐“ฒ๐“ท ๐“ซ๐“ฎ๐“ต๐“ธ๐”€. ๐“˜ ๐“ฑ๐“ธ๐“น๐“ฎ ๐“ฎ๐“ฟ๐“ฎ๐“ป๐”‚๐“ธ๐“ท๐“ฎ ๐”€๐“ฒ๐“ต๐“ต ๐“ฎ๐“ท๐“ณ๐“ธ๐”‚ ๐“ถ๐”‚ ๐”€๐“ธ๐“ป๐“ด.


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


As per information, there are 27 block producers in the TRON network or ecosystem. The users (TRX holders) in this ecosystem can apply to be SR candidates. Either they can become SRs or super partners (SPs). We can apply to be a Super Representative Candidate by our account under the ecosystem. It is noteworthy here that the Super Representatives can be voted on with each account.

According to the vote count, the first 27 candidates who got the most votes are Super Representatives. After that the next 28th to 127th candidates are Super Partners.

The works of Super Representative are to produce block, get block, package transactions and voting rewards. There are different rights to the super representatives such as the right to take part in voting of Tron network parameters proposals. The total number of super partners is 100. They will be rewarded on the basis of their voting rate. Here it is notable that this network only records the most recent vote. In a result every new vote will void all previous votes.

The rewards are calculated by the formula, Total Rewards = Vote Reward + Block Reward

In every block, vote rewards are 16 TRX with a block produced every 3 seconds 1. Thus 20 blocks are generated in 1 minute. And block rewards are 32 TRX per block. Super Representatives create blocks one by one.

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Question : Whatโ€™s the difference between DPOS and POS consensus mechanisms?


The word "Consensus" means โ€œgeneral agreementโ€ is an important component of blockchain technology. In lieu of authority for maintaining accounts being centralized in a single entity, like a bank or centralized online payment system, cryptocurrency uses distributed ledgers or blockchains to record data. In this case, a general agreement is needed to record data such as the balance of every address and transactions on the blockchain. The main purpose of all consensus mechanisms is to secure the network by making it expensive to attack the network and more beneficial to help protect it.


Differences

As we know that Proof of Stake (PoS) and Delegated Proof of Stake (DPoS) are two separate consensus algorithms used in blockchains. Let's see the differences :

PoSDPoS
The idea of PoS was first introduced on the Bitcoin-talk forums in July 2011 as a way to make the process of verifying blocks more workable than employing PoW consensus algorithms. Now the Ethereum blockchain is working toward replacing its PoW mechanisms with PoS in its Ethereum 2.0 update. This is now expected to launch in 2021.First repetition of DPoS was exhibited in 2014 by former EOS Chief Technology Officer, Dan Larimer. He first redacted the consensus algorithm on decentralized crypto exchange platform (BitShares) in 2015. At present, a number of blockchains, including EOS, TRON and Cardano use DPoS.
Basically, Proof-of-Stake consensus algorithms rehash the blockchain networks more efficient by alleviating the energy-intensive computational mining process inherent in Proof-of-Work protocols.In contrast, Delegated Proof of Stake is the most popular evolution of the PoS concept. In this case, the users of the network vote and elect delegates to make out the next block where the delegates are considered as witnesses or block producers.
In case of POS algorithm, the block validator was picked in a pseudo-random way. In this way, the coins held by the user.In contrast, in case of DPoS, there is a precise voting system for choosing witnesses. After that the top witnesses are rewarded for verifying blocks.
With a view to attack the system, an attacker would need to acquire only 51% of the cryptocurrency within that system.But in this case, delegates can structure cartels making the blockchain less decentralized and less ilastic to attacks.
In fact, PoS may lead to keeping โ€“ the more coins we have, the more power we have.Here, If the coin holders are not involved in the voting process, the system cannot work as a proper manner.

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


Let's see first a step by step tutorial - how to stake / freeze TRX.


Step-1
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  • At first we are required to log in Tronlink Wallet App. This we need to import our Tron Private Key & set a strong password. After completing the steem, we can see the above interface. Now we are required to click on Freeze option.

Step-2
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  • In this step, we need to fix a frozen amount that we want. Here, 1 TRX presents 1 vote. The amount must be entered into the marking place.

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  • Notice that I have fixed the frozen amount 10. Here, 10 TRX will bear 10 votes. Look at the rectangular box, 10 TRXs have been produced the 258 energy worth of 10 votes.

Step-3
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  • Now it is time to complete the freezing step. Scroll the page & we can see the option Freeze. Just one click for freezing the amount. Tokens need to be frozen for at least 72 hours.

Step-4
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  • Now we are required to enter the password that we have set during importing the private key. Enter the exact password and click on Done option. Thus the amount freezes.

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Let's see the tutorial - How to Vote for SRs.


Step-1
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  • I have frozen 10 TRX earlier. Now my energy & bandwidth are 257 and 1248 respectively. I can vote now. For voting a Super Representative, just click on Vote option. The below interface will be shown.

Step-2
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  • Now I have 10 votes available. I can vote for a super representative from 10 votes as we want. We have not voted yet. Let's vote first.

Step-3
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  • Randomly I have selected the super representative Poloneix. To vote for poloniex click on the name. The below page will be shown.

Step-4
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  • This is the full specification of Poloneix including voter's sharing rate, total votes for the SR, vote percentage, block produced etc. If we want to vote poloniex, we have to click on Vote.

Step-5
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  • Notice that I have fixed the 2 votes for Poloneix. These 2 votes will be consumed 350 bandwidth. More bandwidths are spent for more votes. Click on the Confirm option to move forward the next step.

Step-6
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  • In case of voting for a SR, we need to enter the password. Without the set password we can't vote for a SR. Enter your password and just click on Done option.

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  • Notice that the voted numbers are shown in Poloneix. Thus we can vote for the SRs.

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  • Further notice that, now I have only 8 votes available. Since I have voted 2 for Poloniex. If I vote again, the voting numbers will increase and available votes will decrease.

CONCLUSION

Considering some amazing criteria, we are fascinated that TRON is recognising and rewarding positive input on behalf of SRs and discouraging those that do not act in the interests of the ecosystem. Thereafter, there is TRONโ€™s new reward structure. The structure is favorable for all SR candidates, not just the top 27 elected. It is also mentionable that the SRs have accomplished their dedication to fetching greater awareness for both TRON, and the ecosystem. With a consideration of future governance of the ecosystem, we can urge you to vote and for projects that seek to engage the ecosystem as a whole.

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โ—พโ„๐•’๐•ง๐•– ๐•’๐•Ÿ๐•ช ๐•ข๐•ฆ๐•–๐•ค๐•ฅ๐•š๐• ๐•Ÿ๐•ค ๐•ฅ๐•  ๐•œ๐•Ÿ๐• ๐•จ ๐•’๐•“๐• ๐•ฆ๐•ฅ ๐•ž๐•–? โ„™๐•๐•–๐•’๐•ค๐•– ๐•๐•–๐•’๐•ง๐•– ๐•’ ๐•”๐• ๐•ž๐•ž๐•–๐•Ÿ๐•ฅ ๐•จ๐•š๐•ฅ๐•™๐• ๐•ฆ๐•ฅ ๐•’๐•Ÿ๐•ช ๐•™๐•–๐•ค๐•š๐•ฅ๐•’๐•ฅ๐•š๐• ๐•Ÿ.๐•€ ๐•จ๐•š๐•๐• ๐•™๐•ฆ๐•ž๐•“๐•๐•ช ๐•ฅ๐•ฃ๐•ช ๐•ฅ๐•  ๐•’๐•Ÿ๐•ค๐•จ๐•–๐•ฃ.



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Sort: ย 
ย 2 months agoย 

Hello @eh-shohag,
Thank you for participating in the 7th Week Crypto Course in its 4th season and for your efforts to complete the suggested tasks, you deserve a Total|3.75/10 rating, according to the following scale:

CriteriaRating
Originality0.25/2
Compliance with topic1/1.5
Consistency of method1/2
Quality of analysis0.5/2
#Club50500/1
Clarity of structure & language1/1.5

My review :
An article with below average content, and here are the reasons:

  • Your reliance on short sentences to avoid falling into the suspicion of plagiarism makes the work lacks methodology and depth in the analysis, which is what you did in your answers to the first two questions.

  • The difference between the two mechanisms could be further explained by providing an illustration.

  • As for the last question, you know how to manage the freeze and vote for SR.

Thanks again for your effort, and we look forward to reading your next work.
Sincerely,@kouba01

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