Crypto investments go beyond buying or selling digital assets. In addition to exchange, crypto staking offers a secure way to earn profits on investment. Staking works similarly to investing in funds in banks, with a critical distinction that user stake (lock) their crypto assets on blockchain for a selected time duration to secure their funds & receive interest in return.
Understanding TRON Staking
TRON stands out to be the leading cryptocurrency in the market. At the core of the TRON network lies TRX, a native currency that serves for staking, and delegating. TRON Staking involves locking up native currency for a specific duration on the blockchain network to actively contribute to network operations by participating in a consensus mechanism and earning rewards.
Staking Options Available On TRON Network:
- Super Representative (SR) Voting
- Frozen TRX for Bandwidth or Energy
- TRON Power
TRON works upon delegated proof-of-stake consensus mechanism where the users vote for SRs who validates the transaction and add blocks to the respective blockchain. The SR voting enables TRX holders to earn rewards as TRX tokens.
TRX holders can freeze their tokens on the blockchain to gain either bandwidth or energy. Bandwidth helps to interact with smart contracts, and process the transaction, while energy helps to execute the transaction.
The TRON power represents the voting power TRX holders have. With TRX staking, user can convert their tokens into TRON power.
Streamlining TRON Staking: Evolution From TRON 1.0 to TRON 2.0
Previously TRON staking was done on the TRON 1.0 framework. This framework posed some challenges in terms of resource management and flexibility. With a vision of decentralizing the web and empowering users, TRON 2.0 mechanism came into the picture, allowing TRX users to contribute to network operations and earn rewards in better ways.
Staking & Resource Delegation
The staking and delegation combined into one transaction.
On staking TRX, the user acquires voting rights (TRON Power) and receives bandwidth or energy.
Users can further delegate the resources to other addresses, but they must be before the staking operation begins. And, if the user cancels the delegation process, they must un-stake the associated TRX.
Users cannot cancel the specific delegated resources by mentioning the amount or address. If they want to cancel one, they must cancel them all.
To change the receiving address, the user must un-stake, re-stake, and mention the new address.
TRON 2.0 –
The framework simplifies the staking process by separating the low-frequency staking operations from high-frequency resource delegate operations using smart contracts.
After staking, resources are allocated to the user’s account, and they can delegate those resources to other recipients.
As staking and delegate operations work separately, users no more need to un-stake the TRX to un-delegate the resources.
With Stake 2.0, users can choose the part of delegated resources they want to cancel, providing better control over resource allocation.
TRON 1.0 –
Unstaking revokes all voting rights, so users must vote again using the TRON power left in their account to continue earning the voting rewards.
TRON 2.0 –
Unstaking TRON does not immediately revoke voting rights. Instead, it provides spare votes and revokes them only when necessary while preserving the voting rewards. If the spare voting rights are insufficient, the system will gradually revoke votes as needed.
Users must follow the mandatory 3-days policy that says that- once the staking is done, the user cannot un-stake for the next three days. After that, the user immediately receives the staked TRX. Also, the user cannot delegate the resources within these three days.
TRON 2.0 –
Users can un-stake at any time and will not impact new staking transactions. However, the amount will be credited to the user’s account after 14 days.
TRON Virtual Machine
TVM does not support stake or resource delegation operations.
TVM supports the operations related to stake or resource delegation, executed using the smart contract.
Resources and votes produced using Stake 1.0 will remain valid in Stake 2.0. And TRX staking can only be performed using the Stake 2.0 mechanism.
TRON v/s Other Staking Platforms: What Makes It The Best Choice?
Unlike the other staking platforms, the TRON network does not expose users to risks of slash penalties. Slash penalties are used to penalize users for malicious behavior or protocol violations. As a punishment, these penalties confiscate a portion of the staked tokens. Thus, users can stake their assets with a sense of security in a forgiving staking environment.
Earn Passive Income: Stake TRON With AnCrypto Wallet
Maximize your TRON holding through staking with an AnCrypto wallet, and unlock the full potential of your TRX Tokens. The wallet offers easy staking while contributing to network security and stability.
Criteria To Invest In TRON Staking
Your TRON address should be active.
Users having at least 1TRX in their AnCrypto wallet can invest in staking.
Follow the below steps to stake TRON
Open the application.
From the Dashboard, select “TRON”.
Hit the “Staked” button.
Enter the Staking amount.
Choose either “Bandwidth” or “Energy” for an exchange.
Hit the “Confirm” button.
Enter the PIN.
Once your transaction is confirmed, you will receive the staking rewards.
You can check earned rewards in the “Staked” section. AnCrypto charges zero staking fees on the rewards, though the amount will vary as per the TRON staking policies.
Tron Staking is a rewarding way to support network transactions while securing assets. It can help to build bandwidth and energy that can be used for participating in the TRON network. Sake 2.0 has upgraded the TRON staking mechanism and reduced the complexities, sharing a better user experience.
Begin your staking journey with AnCrypto today and claim your share of rewards.
We wish you good luck!