Recently, Tron (TRX) on its official Twitter account tweeted a post describing the difference between Delegated Proof of Stake (DPoS) and Proof of Stake.
Proof of Stake
Proof of Stake is where miners put some of their digital assets in blocks in order to verify transactions. The block then makes a choice based on an algorithm of the number of coins owned by the miner. The miner then verifies the transaction once they are chosen.
The possibility of a miner to be chosen is directly dependent on the amount of digital currency they stake. The Proof of Stake (PoS) protocol holds a considerable advantage over the Proof of Work (PoW) protocol in terms of lesser pressure on the system, less power consumption, and faster TPS (transaction per second).
Delegated Proof of Stake
The Delegated Proof of Stake (DPoS) is a more efficient version of the Proof of Stake protocol. It utilizes a reputation system and ongoing voting system to achieve a consensus. The members of the community vote for their super representatives (SR) who then validate the transactions to get the corresponding reward.
Here Are Some of the Reasons Why Tron (TRX) Switched To Delegated Proof of Stake Protocol from Proof of Stake
• To begin with, in a Delegated Proof of Stake consensus system, the members of the community have more rights and power in the network.
• The members of the community will be self-governing the network.
• Efficiency and reduced costs in power consumption.
• Investors have the power to decide who can become a super representative via democratic elections.
• The validation of transactions is safer since the delegate is elected.
TRON (TRX) Price Today – TRX / USD
Tron (TRX) is currently at the number 12th spot on the list of top digital currencies in the world with a market cap of $1.48 billion and a trading volume of $107.17 million over the past twenty-four hours. The digital currency is currently trading at $0.0226 after a decrease of about 1 percent over the past twenty-four hours.