- In order to achieve a more fair distribution of stake revenues, TRX inventor Justin Sun has announced an update for the Tron network.
- Tron investors will receive more TRX through a decentralized distribution of the stake income and thus the participation of the community will be strengthened.
Justin Sun, the founder of Tron (TRX) has announced on Twitter that the consensus mechanism of Tron, the Delegated Proof of Stake, will receive an update. According to the announcements, the innovations are aimed at achieving greater community participation by reshaping the distribution of the staked TRX.
At Tron’s Delegated Proof of Stake, the 27 Super Representative Nodes with the most votes will create the new blocks and share the rewards with their voters. For each block, the 127 most selected Super Representatives will receive a reward in TRX relative to the votes received. The total reward for a block is 160 TRX.
By participating in the Super Representatives election, users not only contribute to the development of the network and community, but can also receive rewards themselves. The amount of TRX that the Super Representatives pass on to the voters is, so to speak, an “electoral promise”.
In the tweets, Justin Sun now announced that this process will receive slight changes to strengthen the community’s commitment. Sun explained that the Tron Foundation wants to introduce a “fair, decentralized distribution of stake revenues” and reduce unnecessary dividend payout transactions.
New Staking #TRON Partners $TRX Incentive plan coming:
1. A fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges and partners.
— Justin Sun (@justinsuntron) September 21, 2019
In particular, Sun also wants to achieve greater voter turnout, along with a higher participation rate across the network. As the founder of Tron explained, this should contribute to a more active community and a more robust ecosystem.
In addition, the reduction in dividend payout transactions should result in lower bandwidth consumption and higher network stability. The update will also provide the basis for more complex consensus and incentive plans that offer more opportunities for future development.
Announcing an update for the Sun Network
Furthermore, the Tron Foundation announced an update for the Sun Network a few days ago, which was launched on August 11th. The Sun Network is compatible with the Tron network and is a sidechain scaling solution designed to provide “unlimited” scalability for the Tron network.
The sidechain uses the DPoS consensus, just like the mainchain, and is fully compatible with Tron. This allows developers to easily migrate their dApps to the sidechain or develop new dApps on the sidechain. The advantage of the sidechain is the significantly lower resource consumption, which only costs a fraction of the cost of a transaction on the main chain.
The price of Tron has responded positively to the announcements and has increased slightly in contrast to the trend of the last 24 hours in the entire crypto market. At the time of writing, the TRX price was 0,179 USD and has thus risen by around 2 percent within the past 24 hours.
- Invest in TRON and 70+ cryptocurrencies and 3,000 other assets.
- 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
- Copy top-performing traders in real time, automatically.
- Regulated by financial authorities including FAC and FINRA.
2.8 Million Users