On the 11th of August, Tron [TRX] on their official Twitter handle tweeted a post mentioning the difference between Proof of Stake [PoS] and Delegated Proof of Stake [DPoS].
Proof of Stake protocol is where miners put some of their own coins on a particular block in order to verify a transaction. The block then chooses them based on an algorithm of how long or how many coins the miner owns. Once chosen, the miner verifies the transaction. The chances of a miner to be chosen directly depends on the number of coins he is staking. The Proof of Stake protocol held a significant advantage over Proof of Work in terms of less power consumption and lesser strain on the systems and a faster transaction per second [TPS].
The Delegated Proof of Stake is an efficient version of the PoS protocol. The use of an ongoing voting system and a reputation system to achieve a consensus. The community members vote for their super representatives who then validate the transactions in order to get a reward.
A Twitter user by the name abdocrypto replied to this post saying:
“i think POS is better because it is more decentralized, the concept of super representative is a kind of centralization”
Another Twitterati replies to the post:
“It’s actually DPoS”
A Twitterati named BalooMekala replied saying:
“Obviously DPOS No need of technical knowledge You guys will tweet difference only of you feel that you are better”
On 1st June, Justin Sun, the Founder, and CEO of Tron tweeted saying that Tron has adopted DPoS.
The reasons for Tron switching over from PoS to DPoS are many:
- Firstly, in a DPoS consensus system, the community members hold more power or rights in the network
- The community members will be self-governing the network
- Lesser chances for fraudulent activities as the member can monitor every transaction taking place, unlike the PoS protocol, where a threat is discovered only after it has taken place
- Reduced costs and efficiency in terms of electricity consumption
- Safer validation since the delegate is elected based on a consent democratic system
- Investors can decide who becomes a super representative through democratic elections
A Twitterati commented on the announcement of the Tron switch saying:
“Doesn’t seem very Democratic to me. Sounds like the richer you are the more control you have over the election.”