Governance of the TRON Ecosystem- Crypto Academy S4W7-Homework Post for professor @yohan2on
Greetings everyone, I am delighted to be part of yet another exciting week of this season crypto academy which happens to be the week 7. I am therefore grateful to our noble professor in the person of @yohan2on for this great and wonderful lesson. This week, our lesson has been focused on the TRON ecosystem and it's governance. I will therefore move ahead to give solutions to the various questions asked by our professor.
1 * Who are Super Representatives, SR partners and SR candidates? (The Governance of the TRON Ecosystem)
Before I go ahead to talk on the question been asked, I will like to say something small on what the Tron Ecosystem is.
The TRON Ecosystem is simple a blockchain which is decentralized in nature and used for the marketing of various tokens in the ecosystem. This decentralized blockchain network was created to be able to give various rewards to delegators for their work done in the network. It therefore gives the opportunity to creators to build up decentralized applications and that of tokens to be utilized on the blockchain. These developers also go in a long run to build up smart contracts which all operate on the blockchain. The consensus algorithm mechanism that is been used on the TRON blockchain is the Delegated Proof of stake. We also have the main token to be the TRONS(TRX) in the blockchain network.
Now moving to the questioned asked by our noble professor.
In the Tron Blockchain, we have the Super Representatives to be the nodes which where been chosen by the super representative candidates. That is, these nodes were been selected as well as voted for. Their responsibilities in the blockchain network is very important since they are expected to ensure the various transactions happening the blockchain are been verified and validated. The are tasked with the creation of blocks in the network. We have a good number of 27 Super representatives present in the Tron Blockchain and which all get their rewards for their various work done.
The voting process or selection process of the Super Representatives is been done by the individuals holding the TRON asset or token. That is, those in hold of the Tron Blockchain token. The selection process is also done with interval of every 6 good hours. Those selected are been taken with when they fall between the range of been the one with the most votes till the 2th position. The individuals that are qualified to make a vote in this process are those holding the Tron blockchain token as well stake their tokens. This makes them have the power to cast a vote. Rewards are been given to the Super representative for their work done in the validations of various transactions. They are been given about 32 worth of TRONS for their work.
With this aspect, the Super Representative Partners are the simply nodes that were not able to get a position from the first 27 nodes after a voting process. That is, they are found in the 28 to 127 nodes in the TRON blockchain and are been selected once a voting process has come to an end. Their selection is done through an automatic process. These aspect is also selected or voted for the holders of the Tron blockchain network and in a sense that they have staked their TRX tokens. This makes them qualified to cast their votes.
The Super representative candidates are simply the the nodes numbering up to 147 that have been selected by the Holders of the TRON blockchain token. That is, these qualified voters makes a selection or votes for the 147 nodes as the Super Representative Candidates. Therefore this aspect is more less in general. In short all the selected 147 nodes are the SR candidates. Candidates the do not voted for will have to wait for a 6 hour period to get a chance of been selected once again.
Rewards are been given to the Super representative candidates for their selection stand. about 115,200 worth of TRX is been given out to distributed to the candidates in accordance with the number of votes gained.
2 * What’s the difference between DPOS and POS consensus mechanisms?
Delegated Proof of Stake and Proof of Stake are great consensus mechanisms that are of great help in the crypto academy. Before looking at their differences, I will through some light on them individually.
Proof of Stake is consensus algorithm mechanism that was brought to the crypto ecosystem to help bring solutions to the Proof of work mechanism. The Proof of Stake mechanism makes sure that number of crypto assets present on the blockchain nodes are been staked. That is, the various users or nodes are been given the chance to make a stake of their token assets for various chosen nodes. When these nodes are staked, they are been used by the nodes to perform various tasks on the blockchain to make sure it is at it's best state. That is, the verification of transactions or governance if the blockchain are been made sure they are operating well. We have blockchains like Polkadot, Cardano and so on that utilizes this consensus algorithm.
This is mechanism that was brought to the limelight to add more enlighten to the Proof of Stake mechanism. The proof of stake have certain flaws which made the introduction of the delegated proof of stake. With the Delegated proof of stake, the various validators that were been selected form the a voting process makes a validation of blocks created or transactions made. This makes the blockchain to more decentralized in nature.
In order to vote for a delegate, there have to be staking of crypto assets by the nodes. This is done in the stake pool which is in connection with nodes that have been chosen so as to make the node get a lot of staked assets in the blockchain. The delegates that have been voted for are been given rewards for their work done with the sense of validations of transactions and on. This shows that, the staked assets shows that the nodes are qualified to be elected.
Let's look at the difference between these two mechanism based on this key words in the crypto ecosystem
| Key Word | Delegated Proof of Stake | Proof of Stake |
|---|---|---|
| Security | There is a high level of security in this consensus algorithm mechanism as compare to the PoS since the choosing of delegate node in done in a very simple way free form hackers. | There is less security involved in this consensus algorithm mechanism since there is no random choosing od delegate nodes like the DPos. |
| Scalability | There is less scalability involved in this mechanism since there is a need to choose a node for voting process to take place. | There is a high level of scalability involved in tis mechanism since it is decentralized in nature and also the choosing of nodes is based on the crypto assets been staked. |
| Energy Usage | There is less energy required in this consensus algorithm as it was one of the reasons it was introduced. | There is a lot of energy required in this consensus algorithm. |
3 * Write a Step by Step tutorial showcasing how to stake/freeze TRX and vote for SRs
Before one will be able to cast a vote for Super representatives candidates, the user has to stake the TRONs token in order to have the power to vote. Below are the steps on to how to Stake or Free the TRX tokens and to vote as well.
With the help of this link, I will go into the website of the Tronscan which is the blockchain of TRON.
From the interface of the website, I made a click on the connect wallet option.
- Make a selection of the wallet from the pop up box and click on connect wallet.
- Moving further, we need to make a stake of the TRX in order to get the power to vote. So to initiate the staking process, we send the pointer to governance at the top part of the interface and click on the votes option.
- From the interface that opens, we then click on the Voting option and make a selection of the obtain option so to set the aspect of the TRX which is going to be used to stake the pool.
- The amount of TRX to be staked in entered and the confirmation is made for the staking of the TRX for at least 72 hours. I then clicked on the Stake button. I made a selection of 5 TRX for this homework post.
- A confirmation is made from the TronLink wallet that needs one to click on the sign option to verify the process. I therefore clicked on the sign option to verify the process.
- After a successful signing, the TRX will be staked and then one can now move ahead to cast the vote.
- To cast a vote, I made a selection of the TRONLink delegate that has an APR of 5.34%. I therefore stake 5TRX and then clicked on the voting option to cast my vote for the delegate selected.
- Confirmation was made with the TronLink wallet where I clicked on the sign option to verify the process.
- I made a stake of 5 TRX for a successful voting for the TRONLink delegate.
In a nut shell, The governance of the TRON blockchain is a great lecture and very interesting. There is a decentralized nature present in as the delegates are been voted for from the Stake assets. These delegates after been voted for called the super representatives ensures the improvement of the blockchain by the validations of transactions and the creation of new blocks. This helps improve the network. There is also the use of the Delegated Proof of stake which is good mechanism and very decentralized.
I am very grateful to our noble professor in the person of @yohan2on for this wonderful lesson and hoping to learn more in the coming weeks of this season. Thank you very much.
Hi @farhmade
Thanks for participating in the Steemit Crypto Academy
Feedback
Total| 3/10
This was poorly done. The information provided was not clear. You gambled a lot in your explanations which just proved you lacked a clear understanding about the governance of the Tron Ecosystem.
What did you try to mean by the following phrase??? Is that really true??
Lastly, do not use #club5050 tag in your articles if you have not powered up at least half of your total 7 days steem rewards.