THE CONSENSUS ALGORITHM OF TRON(TRX)

Hello my Tron family,

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I hope we are all doing great. We know that or some of us know that every crypto currency blockchain uses a consensus algorithm or mechanisms in other to reach consensus (total agreement). And so have you ever wondered what consensus algorithm TRX uses?? Well I have, and I have decided to talk about the consensus algorithm of TRX which it the delegated proof of stake.

Unlike other consensus algorithm like the proof of work (POW) which requires the use of strong and high powered super computers to solve complex math problems termed as nonce value. It was noticed that this algorithm consumed a lot of energy, required a lot of resources and the scalability of its blockchain related asset where very slow. So it lead to the creation of another consensus algorithm called the proof of stake.

The proof stake was developed to correct all those mistakes in POW. this was done in a way that users will stake their assets in the blockchain and that will determine who the next block validator will be. But there was a catch in other to increase your chances of being selected you needed to stake more of your asset. This helped reduce the energy consumption and also increasing the scalability. But it still wasn’t enough and lead to the creation of the Delegated proof of stake (DPos)

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The delegated proof of stake is the upgrade of the proof of stake it is this consensus algorithm that was incorporated into the blockchain. One might ask why was the proof of stake upgraded. The reason is. In the proof of stake the reason why they choose users with the highest stake as the validators is they believe since they have locked up more of their asset in the blockchain they would work or not harm the network else they would lose a lot. But let’s look at a case where I stake 90% of my asset which amounts to 100trx. And another user stakes 10% of the asset which amounts to 150TRX. the one with the 150 has higher chances of being selected but he might not be motivated to work as the one who staked 90% of his asset. Because he only stake 10% of his asset which if he losses will not affect him. So this was the problem of the (POS).

Designed by me

With the delegated proof of stake, users will also stake their however they will not be the ones validating the transaction but they will select a group of people called delegates to do the job. Not everyone can become a delegate your need to have a good reputation and be truthful and trustworthy. So users who stake their asset can vote for you. The one with the highest votes will start verifying and validating transactions. And the rewards received will be shred proportionally to those who voted for that delegate.

Steemit is a clear example of delegated proof of stake. At a point at which the users feel like the one they voted for is begins to cheat they can equal vote him out. This also greatly increase the scalability of the blockchain.

I hope I have not bored you with any long essay I will stop here for now and I hope to continue in future thanks for you support and thank you for reading.