Steemit Crypto Academy /Season 4/ Week 7-Homework post for Professor[yohan2on]- The Governance of the TRON Ecosystem.

Hello friends and welcome to my assignment task by professor @yohan2on, In this assignment, I will talk about the basics and how consensus is reached in the TRON blockchain. I hope you enjoy the class.

Question one

Who are Super Representatives, SR co-workers, and SR candidates? (The Governance of the TRON Ecosystem)?

Description of TRON

TRON is a sophisticated blockchain ecosystem that was established and developed by blockchain developers from all quarters around the world, and it adheres to the "Decentralize the Web" ideology.

Furthermore, the TRON ecosystem has in its purse a variety of products, which includes a public chain, wallet client, and decentralized apps known as DAPPs, among others. These products are intertwined with each other and when used collectively, they help to maintain the ecosystem's stability.

Governance

TRON public chain makes provision for two sorts of roles as a result of the decentralized election

1. Super Representative (SR)

2. Super Representative Partner (SRP)

These two engage in on-chain governance. Thus, voting for individual proposals can be initiated by an SR/ SRP meanwhile, other Super Representative / Super Representative Partners can vote on the proposals thereby making sure that blockchain governance is completely decentralized.

The TRON public chain system has exact and efficient incentive structures that can assist the blockchain to achieve self-sufficiency.

The Super Representative (SR)

After the above overview, it is important that we highlight the concept of what TRX super representatives are. So the TRX ecosystem has a governance system that recognizes and gives credit to the super representatives. These representatives have the capacity to vote and decide on ideas and innovations that can cause positive change to the Tron ecosystem. As we understand how democracy operates, the voting process depicts that the ecosystem has the interest of the representatives at heart. Furthermore, the SR sums up to 27 in the TRX ecosystem. These representatives are chosen in rounds of voting, 27 in each which lasts for a period of 6 hours. Furthermore, just as there are primary elections and secondary elections, only those who qualified to scale through the primary would participate in the secondary it is the same with SR elections. Only super representatives who maintain their positions in the top 27 would make it through the next round.

In addition to the already said characteristics of the above mentioned, the SR do well to keep records of successful transactions in the ecosystem. This means that they are to take care of the network. For taking on this huge responsibility, their profile data are made available for everyone to access. This assessment makes it possible for voters to know who they are voting for.

Super representatives have the ability to bundle transactions, create blocks, and obtain incentives for block generation. Furthermore, ordinary voters can earn stake rewards for casting votes for SRs and SRPs, while SRs and SR partners can get incentives based on the number of votes they receive. The reward amount is without complexity, and the distribution procedure is completely decentralized. For me to vote for an SR, I would need to stake my TRX tokens.

1 unit of TRX Power = 1 TRX token

A block is generated every 3 seconds. Furthermore, the TRX network uses the DPOS mechanism to make decisions about block producers are. It takes each SR to generate blocks to get rewarded 32 TRX each.

Super Representative partner

To being with, all holders of the TRX tokens can apply to be super representative candidates on the TRON network. With that, they stand the chance to SR partners or even super representatives The interesting aspect of all these is that, after the voting process, the top 27 candidates become Super Representatives, with the candidates from the 28-127th position becoming super representatives partners. The Super Representative is mandated to produce blocks, help in packaging transactions. What then do the super representative partners do?

They vote and get rewards for voting, simple. I must reiterate that all the participants; Candidates, super representatives with their partners are capable of proposing changes to the TRON network. It is worth noting that as a super representative, you stand the chance to receive incentives for blocks freshly formed however, the incentives are based on the voting ability in the system.

At the time of writing this assignment, there was a total of 27,360,203.874 votes cast, with a total number of 341 Super Representatives and 1,262,497 blocks.

source

The screenshot below depicts other valuable information for example, it shows the ranking numbers of the super representatives, the blocks information among others. At the time of writing this assignment, the number one ranked SR was BinanceStaking.

source

From the above screenshot, we understand that the SR candidates are 127 members of the system. The first 27 are the Super Representatives while the 28th-127th are the super representative partners. From the activities they complete, they are to receive incentives. Operations such as the creation of blocks and transaction packaging are what they engage in. For the sake of emphasis, their roles change after 6 hours as another election is scheduled to take place. Finally, with respect to their various capacity, they are saddled with the responsibility of managing the network.

Question 2

What is the difference between DPOS and POS consensus mechanism?

PoS (Proof of Stake)

The consensus process of any blockchain seeks to describe how all stakeholders that are in a decentralized network agree on the validity of shared data which is usually some form of transaction but not necessarily anyway. Furthermore, protect it on the blockchain.

In addition, before a blockchain network can forge forward and process new transactions, it must first reach the stage of consensus. A lot of Cryptocurrency protocols use the Proof of Stake (PoS) algorithm to reach a consensus.
To comprehend the mechanism with which PoS algorithms improve efficiency, you must first comprehend Proof of Work (PoW), which is the original blockchain consensus algorithm.

PoS algorithms demand effort from the computers that form decentralized networks all around the world. This labor is the processing power of the computer, power that solves a computational puzzle in the case of Bitcoin, and the computers that execute this operation are known as miners. So, when miners solve the computational challenge, their data block is considered genuine and appended to all copies of the blockchain, resulting in a consensus.

• Stakers in PoS are rewarded with coins for their contributions to the network.

• Consensus on the PoS blockchain is reached digitally. The awards in the system are given out to the validators in random order and because staked wallets must be open and online, you may be a victim of malicious assaults.

• Contribution is easy. Users can simply stake coins in their wallets to contribute.

• Users of this system need not set up large mining operations in order to receive rewards; rather, they can earn incentives just by holding and staking a coin.

• PoS is a consensus protocol that was fashioned by Sunny King in the year 2011. He did such for quite a number of reasons such as to improve scalability, prevent centralization failures, and reduce energy consumption of the PoW protocol.

DPOS (Delegated Proof of Stake)

Delegated Proof of Stake (DPoS) is a well-known variant of the Proof of Stake (PoS) concept, in which network the users have the onus to vote and elect delegates to validate the next block.

Furthermore, witnesses and block producers are other terms for delegates. Users can vote on delegates using DPoS by putting their tokens into a staking pool and attaching them to a specific and desired delegate. Rather than directly pushing your tokens to another wallet, you stake them in a staking pool through a staking service provider.

• Former EOS Chief Technology Officer (CTO) Dan Larimer championed the first version of DPoS in the year 2014. Furthermore, In 2015 Larimer did well in implementing the consensus method on BitShares, which is a decentralized crypto trade platform. Summarily, DPoS is now used by a variety of blockchains. Some of which are Cardano, EOS, and TRON.

• Furthermore, DPoS is based on an established reputation system that makes voters and the voting process lawful. In other words, DPoS has a more democratic approach of picking who validates the next block, allowing a broader range of people to participate in the process. In addition, DPoS also allows the network to reach consensus more quickly because of the limited amount of validators.

• DPoS requires less hardware and consumes less energy than PoS. This protocol was created by Daniel Larimer in 2014, and it outperforms PoS in terms of scalability. It was specially designed for increased network performance and decentralization.

• Block producers can validate transactions in seconds using DPoS, making transactions faster than with PoS.

• Each token holder in DPOS has a say since delegates are elected via a democratic voting system.

• Voters may discover unpleasant traits in a delegate right away, and that delegate can be collectively voted out of the system.

• Block producers, which are also known as Delegates, are subject to being voted out of the system at any time, thus they must be on their best behavior at all times.

Question 3

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

To participate in the voting process, TRON Power also known as TP is required, and the quantity of TP required is determined by the amount of TRX frozen by the voter, as I'll explain further in the body of this section.

Tron Power (TP) equals 1 TRX that has been frozen.

Every TRON network account has the ability to vote for its own SRs. As a voter, if you don't have any frozen assets after the release (unfreeze), you lose all your TP. As a result, all votes for the current and future voting rounds become worthless unless the voting round is frozen again. The following steps describe various steps in the voting process. To begin with:

Staking/Freezing Stage

*The first step in voting for SR, is to launch your Tronlink pro wallet/app. If you do not have it already installed, you can access it easily on the Google play store

*After completing the sign-up procedures, you will be directed to the home page or landing page, where you will see quite a number of features on the screen.

*The next step will be to click the stake icon to enable you freeze your TRX. Input the desired amount of TRX to be staked

• A pop-up window will be displayed, proceed to click on obtain

• The next step in this process is to input the amount of TRX as desired by you. As shown in the screenshot below, I staked a total amount of 50TRX

• After clicking on the confirm icon, meaning that you are satisfied with the transaction, proceed to click stake and it will direct you to another page that will depict information pertaining to your transaction as shown below. The page displays the amount of TRX to be stakes or frozen, the amount of Tron power gained, and so on. Click on Sign if satisfied with the displayed information.

• The next page displays the notification verifying the success of the transaction

• The next page shows you the complete transaction carried out.

• The screenshot below displays the current state of my wallet after staking 50 TRX successfully. It displays the total number of frozen TRX I have and the number of voting rights I have.

Voting For Super Representatives (VOTING STAGE)

The next operation would be to vote for the desired SR.

• From the homepage of the Tronlink wallet, identify and click on the vote icon as shown in the screenshot above

*The next step is to select your desired super representative to enable you to vote for her. In this case, I selected Poloniex with 6.56% APR as shown in the screenshot below

• You can adjust the number of votes you desire to cast, for a specific candidate e.g 5, 12, 10 or even 15 as shown below

• The next step after clicking on the vote icon is to sign the transaction denoting that you are satisfied with the process thus far. The sign page also displays a number of details such as the type of operation you are carrying out in this case, we are voting for a super representative. In addition, it displays the number of votes and available bandwidth.

• Finally, after clicking the sign icon, the vote is submitted to the system and you will be shown a page corroborating the successful transaction

• The screenshot below gives a summary of the last successful operation. It gives you a run-down of the state of your wallet, your available token amount, the number of cast votes, and so on.

Conclusion

The TRON network is a very organized system. It has outstanding characteristics such as permitting voters to participate in the decision-making of the network, and not just that, it offers incentives for a job well done by these individuals. The network runs on DPOS in contrast to other networks, making its speed and scalability top-notch. It is without contradiction that, the TRON network is a very established system.

All images used in this post unless otherwise stated were extracted from Tronscan and Tronlinkpro chrome extension.

Special thanks to Professor @yohan2on