The Governance of the TRON Ecosystem - Crypto Academy / S4W7 - Homework Post for [Crypto Professor @yohan2on]

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

Supper Representatives

Supper Representatives on the Tron network is also known as the 27 block producers. These are the top 27 users on the Tron network with the backing from votes of other users on the blockchain. So this list of 27 are candidates with the most number of votes from other users

As I mentioned above, they are also known as the block producers on the tron network which get rewarded after producing a block. All the SPs are rewarded 16 TRX each after producing a block every 3 seconds.

Note: Being a Supper Representative does mean you have been rewarded 16 TRX every 3 seconds, Supper Representatives only successfully get rewarded if they created a block.

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Super Representative Partners

After 27 top users on the Tron network, the list continues, from 28 to 127 are super Super Representative Partners. Super Representative Partners is made up of 100 users who are automatically chosen.

Super Representative Partners also get rewards as representatives (Second Class), but they do not create blocks.

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Super Representatives Candidates

The list of Super Representative Partners ends at the 127th position, the users on the list from positions 128 -147 are the Super Representatives Candidates.

To be Super Representatives Candidates, you need to be voted by the users on the Tron network who have stake coins and are also rewarded. Super Representatives Candidates are the third level on the ladder after Super Representatives and Super Representative Partners.

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

What is Proof of Stake (PoS)

It is a situation where the number of coin stakes will determine the authorization, and validation of a transaction by the miners. The more coins staked, the more power the miners have on the network. This month of coin stake also influences the authority a miner has, the higher the more authority they have. Ethereum is one of the Networks that have shifted from PoW to PoS consensus

What is Delegated Proof of stake (DPoS)

It is the situation where the delegated authority and voting power is equivalent to the number of coins staked by the users on the network. These delegates are selected by the users who have the coins by voting for them.

Differences Between PoS and DPoS

• PoS is slow in validating transactions while DPoS is faster
• With PoS, validation is done by all the users that have staked their coins while in DPoS only the selected delegate by the users can carry out validation
• PoS consumes high energy for the transaction while DPoS consumes low energy.
• With PoS, the amount of coin stake determines the selection process for delegates while in DPoS, the user votes the delegates.
• PoS used only collateral Staking for security while DPoS added Voting and delegation to step up the security.

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Benefit of PoS

• Users get rewarded for staking their coins on the network
• Energy consumption for staking is low
• Staking is done directly from your wallet and rewards are sent to your wallet.

Setback of PoS

• The security is not as best as compared to proof of work
• The validator with a huge amount of coins stake can influence transaction verification
• They are that requirement of lock-up staked or coined by some Proof of Stake coins.

Examples: Tezos, Algorand

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Benefit of DPoS

• Energy consumption for staking is low.
• High level of censorship as the delegates are been voted by the users.
• Faster transaction validation speed

Setback of DPoS

• Validation is left in a few hands as only the voted delegates can act.
• The coins holders have nothing to do with validation

Example: Steem

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

A) I will be writing a step-by-step illustration on how to stake/freeze tron. First for a user to be able to carry out any action, we need to connect to the TronLink Wallet.

Lunch TronLink extension and click stake

A new window is open on the browser, Click obtain

A pop-up window comes on the screen, input the amount you want to stake (I want to stake 30 TRX). Click the checkbox to confirm the amount you are about to stake.

Click Stake, Now your TronLink wallet will pop up a small window for the transaction to be signed.

Click Sign to validate the transaction.

I had a successful Tron stake transaction.

Here is my wallet after skating 30 TRX, adding to 11 TRX making up to 41 TRX.

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B) Step by step illustration on how to Voting for Supper Representatives on the Tron network.

Lunch my TronLink wallet and click Vote

A new window is open on the browser with a list of Supper Representatives.

To enable the voting process, Click voting.

Click the plus icon to vote, a single vote is worth 3 TRX. A single Super Representative can be voted more than once depending on the available funds staked. I will be voting for Poloniex with a 6.59% APR position 4. I have voted three-time, which will be 9 TRX as seen on the screenshot below. Now I'm left with 32 TRX, which can be used for voting. Click voting to validate the vote.

Now your TronLink wallet will pop up a small window for the transaction to be signed. Click sign

I have successfully voted for a Supper Representative (Poloniex ).

Conclusion

Every user on the tron blockchain has the right to vote for an SPs, it all depends on the amount of TRX you have a stake (Tron Power) which will determine the number of votes you will be able to put on a single SP. If a user unstake, the account will lose its TP and will not be able to vote any SPs. Votes on the Tron network are counted after every 6 hours and new votes overwrite the old votes. Super Representative Reward(Block Reward) gets 16 TRX every 3 seconds after a successful block creation, while Candidate Reward(Vote Reward) shares 160 TRX.

cc: @yohan2on