Consensus validation methods have always been a subject of hot debate within the cryptocurrency community. For the longest time, there was a simple dichotomy—Proof-of-Stake (PoS) versus Proof-of-Work. While the former is notable for being more scalable, the latter is more difficult and expensive to attack. But as PoS technology became more and more developed, the community began to demand that it up its security game in order to become the default transaction validation blockchain method.
This was done effectively, too. New iterations of the old PoS system resulted in higher security and less vulnerability to simple, easy attacks on the network. And as this security developed, it began to convert more and more companies to the opinion that Proof-of-Stake is the most effective validation system available on the blockchain.
But the scene has changed; it is no longer just PoS versus PoW. Instead, numerous variations of both verification systems have been developed, giving corporations newer ways to validate transactions on the blockchain. Specifically, the development of the Delegated Proof of Stake (DPoS) validation method has added an entirely new factor into the equation: democracy.
The TRON Foundation recently announced their intention to abandon PoS, which had been the previous default validation method on their unique blockchain, and instead adopt DPoS. The decision was marked by an in-depth analysis of the differences between the new and the old validators. On the eleventh of August, the foundation tweeted that the DPoS setup gives community members the ability to vote for “super representatives,” the professionals that generate new transaction blocks.
PoS used to be the default protocol of the TRON network. Under the PoS system, miners place their own coins on a block if they want to verify the transactions associated with the block. Using a complex formula dependent on the length and amount of coins that the miner owns, the block then chooses one miner to verify the transaction.
The biggest advantage of this protocol over PoW is its speed of transaction. Requiring less time and significantly less energy to verify a block, the strain on mining systems is minimized. But one notable problem with this system is that it relies solely on the amount of coins that are staked by the miner in order to decide who gets to verify the transaction. This is a problem to those who believe that a reputation system would better decide who can and cannot verify a given block.
Delegated Proof Of Stake
DPoS responds to this major problem in the PoS status quo by integrating a reputation system in order to determine the miner of particular blocks. Under DPoS, users still stake coins, but they do so in order to cast votes for “super representatives,” who are in charge of verifying the transactions on a given block.
This consensus protocol gives each user more power to control what happens on their network, providing a form of self-governance which is, in many ways, a core philosophical goal of blockchain technologies.
TRON’s adoption of DPoS will likely have a profoundly positive effect on the public’s perception of this method of consensus validation.