- TRON Founder Reveals Plans for the Network’s Proof-of-Stake Mechanism
- TRON Partners Will Get TRX Rewards According to the Votes They Get
According to reports, the founder of Blockchain platform TRON (TRX), has revealed that the network is working on a new plan to execute TRON’s proof-of-stake consensus mechanism. Justine Sun, who is well known for his online presence, made the revelation via a series of tweets on September 21. The TRON founder highlighted four important developments in their new plan for the proof-of-stake consensus mechanism. According to the report, the developments will be focused on the model of distributing staking revenues and the encouragement of greater engagement of the TRON community.
Encouraging Better Community Engagement
In his tweets, Sun revealed that his company will consider allowing “a fair, decentralized distribution of all staking revenues.” The move is expected to increase user participation and encourage better community engagement regarding staking from top industry players. The players here refers to exchanges, wallets and partners.
TRON (TRX) Price Today – TRX / USD
In a bid to encourage the TRON community to become more active and make sure that it is a more robust economic system, Tron is a planning to increase their stake ratio on the network. The network is also hoping to reduce any unnecessary dividend distribution transactions.
TRON Partners Will Get TRX Rewards According to the Votes They Get
Sun also said that TRON’s partners will get their rewards in proportion to the number of votes they get. The goal was to optimize the way staking users receive their returns.
Here is how Sun’s tweet put it:
“TRON Partner Staking and Voting Reward: for every block, the most-voted partner 127 nodes (TRON partners) is going to receive TRX rewards based on the votes they get. 160 TRX is the total reward for one block. We have optimized the way our staking users get their returns.”
Looking Forward to Update for the Sun Network
As reported earlier, Tron is expected to release a new update related to the Sun Network. The Sun Network which was officially launched on August 11 is a sidechain scaling solution that’s designed to deliver unlimited scaling capabilities to the network. This move is expected to solve the issue of scalability.
Additionally, the solution will allow decentralized applications (dApps) work with less amount of energy. It will make it capable of running with better efficiency and higher security.
In August 2019, Sun revealed that getting the TRX crypto listed on the American arm of Binance or that of Coinbase is TRON’s number one priority. Time will tell how things will play out after the update has happened moving forward.