Homework post for @yohan2on || Governance of Tron Eco-system
Hello steemians how are you? I hope you all are doing well and you all are safe and healthy during this pandemic time. Hope we all soon get the vaccine.
Today I go through one of the best and simplest language explanation homework posts by @yohan2on on The governance of tron ecosystem. It's interesting to read the lecture post. Now I am Submitting my homework post to the professor.
HOMEWORK
Question 1:
Who are super representatives, SR partners and SR Candidates?(The governance of tron Ecosystem).
Answer 1:
Before discussing about who are super representatives and there partners first we have to understand nature and working of tron Ecosystem. So tron eco-system is a decentralised blockchain network that was created to provide platform to de centralised apps and content creators. Tron eco-system allow developers and creator to directly connect to the customer and earn without any interaction with the middle man.
The coin that trom eco-system use to make payments on its platform is the TRX coin known as a Tronix coin. This token is used within the ecosystem for rewarding contents and for buying-selling.
consensus algorithm:
The Tron blockchain is working on DOPS that is delegated proof of stake consensus algorithm. In this Ecosystem Few delegaters are selected to create blocks and delegate coins. Normally these selected delegates are known as the super representatives (SR). Now let us talk about SR and what are the guildlines use to choose SR.
SUPER REPRESENTATIVES:
Super representatives are the selected member nodes of tron blockchain. These members are selected from super representatives candidates that contest in SR election. Out of many candidates only 27 nodes are selected and these nodes are used to create blocks and validate a transaction. They are also rewarded by valueable votes.
SUPER PARTNERS:
Now The question is that if only 27 members are selected as the Super representatives then what will happen with other candidates contest election. So according to the data if 27 members (1-27 ) are selected in voting that happen in every 6 hours. Member with higher number of votes is at place 1. So from 28-127 around 100 members that contest election and recieved these positions are known as super partners.
SUPER REPRESENTATIVE CANDIDATES:
After selection of all representatives and partners from 1st-128th position the rest positions from 129th-X are the super representatives candidates. The will take part in next election voting that will happen after 6 hours.
A SR is voted with 16 TRX as reward and also the partners + representatives rewarded with 160 TRX share with each block that is produced and also depend on the total vote recived. The formula which is used to calculate this SR reward is given below. Only SR recieve the block rewards not the partners as they are not mining the blocks.
After each confirmed block Block developer will recieve 16 TRX and voters will recieve 160 TRX in share. Then the total TRX on every single block is 176 and ever single block is generated in 3 seconds.
This is the basic information about super representatives super partner and super representative candidates.
Question 2:
Differentiate between proof of stake and delegated proof of stake consensus mechanism.
Answer 2:
Let us try to differentiate in between proof of stake and delegated proof of stake. Before that let us understand about it briefly.
Delegated proof of stake:
Delegated proof of stake is upgradation of proof of stake consensus algorithm. Delegated proof of stake was developed in 2014 by Daniel Larimer with an aim to make asset holders voters and coin creators. Tron and steem both altcoins use delegated proof of stake consensus algorithm in which stakeholders are able to vote and their voting power it is decided by the asset holding. There is a word called delegation which allow user to delegate certain amount of coin in a community and get a votes which not only increase engagement but also increase mining of coins.
Proof of stake :
As the name suggests that a user have to put certain amount of asset on stakes so that Random nodes are able to verify the transactions. When a new block is created randomly. In this system coins are not mined but are minted.
Now let as try to identify the difference between delegated proof of stake and proof of stake:
Delegated proof of stake:
The block validation process is very slow and it cannot be verify instantly.
Delegated proof of stake have selected panel of Delegators who govern and propose different changes in the protocol.
Delegated proof of stake is fast scalable and highly efficient more distributed consensus algorithm which is use in tron ecosystem.
Delegated proof of stake system is is a kind of centralised system which is governed by every single community in which Delegators delegate the amount.
Only elected delegates can validate a block.
proof of stake:
The block validation process is fast and can be completed instantly.
As all the nodes are selected randomly so we can say that this system is a decentralized system.
Notes who take the higher number of assets are selected randomly. This process is different from Delegated proof of stake.
Proof of take is eco-friendly and don't require hardwares used in proof of work but less efficient than delegated proof of stake.
Only user who stake token will get the reward but in delegated proof-of-stake both the voter and the winner get the reward.
Question 3:
Explain step by step how to freeze TRX token and how to vote super representatives using TRx tokens.
Answer 3:
The process by which we can freeze and then vote super representatives in tron Ecosystem is given below, follow the steps.
First we have to freeze our trx tokens to get voting rights. So the steps we have to follow are given below:
- Open your tronlink wallet on mobile phone, This will show you the complete balance that how many TRX you are holding with bandwidth and energy. Just below that you can see 5 options named as send, receive, swap, freeze and vote. Click on Freeze option and move further.
- Then you can see it will show an interface on which you can see the amount of TRX you already freezed. In my case I have already freeze 10 TRX.
- Now scroll down and enter amount to TRX you want to freeze again. In my case I am freezing 10 TRX again so that I can get 10 voting rights. This process will cost me 257 energy. Click on Freeze option.
- A confirmation page will pop up, asking for confirm details and move further, click on confirm.
- Then enter the password you set before login your wallet to complete transaction.
- Now you can see that my voting rights increase to 20 from 10. As we freeze 10 TRX again.
This is how we have to freeze TRX tokens in tronlink wallet. Now let us see what are the steps that we have to follow to complete voting on different or signal Super representatives. Steps we have to follow are given below:
- Open your tronlink wallet on mobile phone, This will show you the complete balance that how many TRX you are holding with bandwidth and energy. Just below that you can see 5 options named as send, receive, swap, freeze and vote. Click on Vote option and move further.
- You can see your voting rights value with available TRX and how Many votes you cast ever.
- We directly enter in SR's list where we can vote different SR's. Given below is the list of SR's in which we select poloniex.
- First it will show the details of poloniex and then click on vote option given below.
- Enter the amount of TRX you want to vote on super representative. Then check all the details and click confirm button.
- Now enter your password and complete your process.
- Now you can see that 10 votes are written in front of SR you vote. And also your available votes reduce to 10 and cast vote increase to 10.
This is how we have to vote any super representatives in tron Ecosystem.
Conclusion
It is time to conclude our homework post in which we discuss about the governance of tron ecosystem. This ecosystem consists of three main lead roles super representatives super partners and super representative candidates. There are total 27 super representatives from 28-127 around hundred super representative partners and rest are the super representative candidates. The role of super representative is to validate and minor block in tron Ecosystem for which they will receive 16 trx including share from 160 trx.
This tron Ecosystem work on delegated proof of stake and also using Tronlink wallet we can easily freeze Tron coins and also vote super representatives with our freeze Tron coins only we have to follow certain steps that are mentioned above. this is all about my homework post.
Hi @utsavsaxena11
Thanks for participating in the Steemit Crypto Academy
Feedback
Total| 7/10
Correction
Change "Trom" to "TRON"
This is good work though you need to always proofread your work to correct any careless mistakes made in your work. Otherwise, thanks for taking the time to learn about the governance of the Tron ecosystem.
Thankyou so much @yohan2on for your kind review. The only thing I want to ask is that will I get 1 marks if I join club5050 now and power up steem??
You will not get that mark now. You may get that mark on your next academy article if you power up now.
Ok thank you so much professor