Hello everyone this is Monz from India hope you all are doing great and enjoying the fourth season of Cryptoacademy . I am here with my homework of
governance of Tron Ecosystem given by professor @yohan2on
So let's start with the homework task
Who are Super Representatives, SR partners and SR candidates? (The Governance of the TRON Ecosystem)
The tron ecosystem is generally a decentralized blockchain-based platform which was built for the creators to make money through making original and creative content . It also helps in developers to create DApps DApp tokens and smart contracts. Moreover Tron network uses the mechanism of Delegated Proof of Stake (DPoS).
Tronix (TRX) is the native token of Tron blockchain and is the used as governance token of the network.
In Delegated Proof of Stake number of witnesses are chosen for blocks creation and votes are casted by the token staked users . A definite number of representatives or witnesses falling in top tiers that are qualified and selected as validators.
Super Representatives
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These representatives are the selected nodes who take part in the election for getting selected as block validators and gets voted and selected from the super representative candidates . Among them the top 27 candidates becomes Super Representatives and are handed over the responsibilities like validation of transactions , creation of blocks and obtaining the corresponding voting rewards etc. Voting is carried out at an interval of 6 hours and the candidates with the higher number of votes from 1-27 are selected as Super Representatives and from 28 - 127 are the Super Partners. They are rewarded 16
TRX with each block production and these rewards are known as SR Rewards.
Super Representative Partners
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After the completion of voting super representatives partners are automatically chosen after choosing the super representatives ranking 1- 27. The failed nodes who couldn't achieve the rank under 1 to 27 are placed from 28 - 127 . Tron Blockchain Token Holders
who stake TRX tokens in their account are eligible to vote and votes the election of Super Representative Partners .
Super Representatives Candidates
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Super Representatives Candidates are candidates whose rank stands after super representative patners which is they hold the rank from 128 onwards as they stand by till the upcoming voting . Based on the ratio of their votes super representative candidates earns rewards for the block production and also for validation . They are the nodes who were eligible to for the votes of the election of super representatives.
What is the difference between DPOS and POS consensus mechanism?
Proof of Stake ( POS)
Proof of Stake ( POS) can be defined as a type of consensus mechanisms for blockchains which chooses the validators on the basis of quantity of holdings in associated cryptocurrency . Moreover POS is energy efficient and is also a secure network because if anybody tries to attack the network will have to have a stake of 51% which is very expensive.
Hence POS is considered to be safe and secure network.
Delegated Proof of Stake (DPoS)
Delegated Proof of Stake (DPoS) was developed by Daniel Larimer and it is an enhanced form of proof of Stake in which a technology based democracy voting system is used for electing the candidates for the block validation. Moreover, minimum required coins our staked by the the candidates in the pool .
It is maintained by election process .
DPoS coins are comparatively much more scalable anda also environmental friendly .
Difference between DPOS and POS
| DPOS | POS |
|---|---|
| 1 .Users vote to elect the witnesses for validation of transactions. | users with more coins gets a chance for validation of transaction and creation of new coins. |
| 2. Validation processing time is fast. | speed of validation is comparatively slower. |
| 3. All the participants governs this network | randomly selected individuals governs the network |
| 4.DPOS requires comparatively less hardware equipments making it more efficient. | this requires more hardware equipments which makes it less efficient. |
| 5.DPOS is more secure as hacker should own a stake of 51% for attacking. | Comparatively less secure as funds can be moped by the hackers. |
Detailed Step by Step tutorial showcasing how to stake/freeze TRX and vote for SRs
The first step is freezing of Tron
• open Tronlink pro app on the device
• on the main page click on Freeze option.
•Now enter the amount of Tron you want to Freeze
• a confirmation dialogue box appears where we have to click the confirm option.
• Then enter the password
• you will receive a confirmation about the frozen TRX.
Clicking on freeze option
Freezing 15 TRX
Click on the confirmation
Enter your password
You will get a confirmation of your voting rights like mine is 15.
And your 15 TRX will be frozen for further confirmation.
Voting for the SRs
For voting the SRs we will:
•On the main page we will select vote option.
•select the Super Representative you want to vote like I am voting Tronlink pro.
• now click on vote option
• then enter the quantity of vote you want to the SR
•click on confirmation button
• Then as asked by your system for the password enter the password .
• your vote will be successfully casted
Click on vote
Enter the SR of your choice
Click on vote
Enter your password and the your vote will be casted successfully.
So by following the above steps you can freeze your TRX and vote the SRs .
Conclusion
The tron blockchain is a decentralized digital platform which runs on Delegated Proof of Stake (DPoS) consensus mechanism resulting in good governance system . I have discussed the DPos in detailed above and we all know how it runs . The tron holders can vote their SR's of their choice and as it helps in decision making . Moreover we know that Tron has its native token name Tronix (TRX) . Anyone meeting the criteria (that is required minimum quantity of TRX) for SR candidate can be eligible for the elections of SRs .We also learnt the process of Freezing our TRX and voting the Super Representatives of our choice. So this was indeed a very helpful lecture.
Thankyou so much
Cc
@yohan2on
@steemitcryptoacademy
Hi @monz122
Thanks for participating in the Steemit Crypto Academy
Feedback
Total| 7/10
This is good work. Thanks for taking the time to learn about the Governance of the Tron ecosystem.
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Thankyou so much for the feedback professor!
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#club5050 😀
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Steem 0n!😍
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