How TronDAO Is Driving Decentralization on Tron Blockchain

The introduction of the Blockchain technology keeps redesigning things beyond what we have ever knew of. One of the major ways the Blockchain technology is able to achieve all this is through the Decentralisation nature that it actually has. Decentralisation actually helps to maintain system that helps to make it transparent and secured. Under the Blockchain technology, we have several Blockchain network that helps to achieve that and which I will be picking one among all to explain further what I want to talk about today.

The Tron Blockchain which is a Decentralised platform that has recently allow the launching of something called the TronDAO. TronDAO as it's name imllies means a very Decentralised organisation that helps to reshape the Tron Network. One of benefits that the TronDAO does is that it helps to create a governance in the Tron network and how it does that is by the Decentralised autonomous organisation. This helps to promote innovation and it happens through the use of the Decentralised Finance and also making use of the Decentralised applications.

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Let me briefly talk about understanding the role of TronDAO role in governance as it is one of the most important one. One of the initiatives that helps TronDAO to thrive is through the governance model and this helps to foster the decision making very much more. Token holders can bore for something called the Super Representatives and this super representative helps to validate transactions that will be carried out on the network. The way the TronDAO governance works is that it works on a mechanism that is transparent and accountable.

Not only that, the TronDAO helps to improve much more Decentralisation and that happens by creating an ecosystem that allows developers and even investors to interact in the platform. TronDAO helps to increase and facilitate the development of the Decentralised applications much more and helps to even foster grant programs and this helps at the end of the day increases the innovative solutions much more.

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One of the major role also that TronDAO does is that it helps to empower Decentralised Finance and even beyond. What do I mean by that? With Decentralised Finance, it helps to offer huge developments in the Blockchain space and that helps to increase the DeFi projects to be carried out on the Tron Blockchain and much more. With DeFi platforms existing on the Tron Blockchain, it allows financial services like Lending, borrowing and even trading to be carried out among users on the platform without even the need for the traditional banks that we are always used to.

Of course that does not come without Challenges and even the future prospects. One of the challenges currently now that TronDAO is facing is achieving Decentralisation through the use of governance mechanisms. Not only that, there is still a need for more community participation to be achieved much more. I am so sure that the future of TronDAO is bright and this is just the beginning. There is so much of innovation that will come and it is just a matter of time before it actually plays out. I believe as time goes on, there will still be more collaboration that will come in place as it is just a matter of time before we see it take another shape.