Benefits of Delegated Proof of Stake (DPos)
The earliest consensus mechanism is the Proof of Work (PoW) consensus mechanism. This protocol is currently implemented in Bitcoin and Ethereum . In PoW systems, transactions 7 8 broadcast through the network are grouped together into nascent blocks for miner confirmation.
To solve the energy waste issue, the Proof of Stake (PoS) consensus mechanism was proposed by many new networks. In PoS networks, token holders lock their token balances to become block validators. The validators take turns proposing and voting on the next block. However, the problem with standard PoS is that validator influence correlates directly to the amount of tokens locked up. This results in parties hoarding large amounts of the network’s base currency wielding undue influence in the network ecosystem.
The TRON consensus mechanism uses an innovative Delegated Proof of Stake system in which 27 Super Representatives (SRs) produce blocks for the network. Every 6 hours, TRX account holders who freeze their accounts can vote for a selection of SR candidates, with the top 27 candidates deemed the SRs. Voters may choose SRs based on criteria such as projects sponsored by SRs to increase TRX adoption, and rewards distributed to voters. This allows for a more democratized and decentralized ecosystem. SRs’ accounts are normal accounts, but their accumulation of votes allows them to produce blocks. With the low throughput rates of Bitcoin and Ethereum due to their PoW consensus mechanism and scalability issues, TRON’s DPoS system offers an innovative mechanism resulting in 2000 TPS compared to Bitcoin’s 3 TPS and Ethereum’s 15 TPS. (TPS: Transaction Per Second)
Environmental Perspectives of DPoS
Reasonable estimates indicate that Bitcoin’s current annual energy consumption exceeds 140TWh.
With energy consumption by Bitcoin miners exceeding energy consumed by entire countries, mining is unsustainable. What’s more, mining (with Proof-of-Work (PoW)) slows down the real-world adoption of cryptocurrencies as electricity bills must be paid for using fiat money.
However, with DPoS consensus, validators don’t need to solve highly complex calculations, reducing the amount of energy consumed to verify transactions. To illustrate, energy consumption of TRON as compared to Blockchain shows the massive drop in energy consumption.
At this point, SNOWL coin was created from the TRON network, which uses the DPoS infrastructure instead of PoW to support the project's original purpose, the fight against global warming. In this way, unlike Bitcoin and other coins using PoW infrastructure, SNOWL uses an environmentally friendly system that minimizes its carbon footprint.