Tron introduced the beta version of its new staking mechanism, Stake 2.0, and urged users to test it on the Nile testnet and provide feedback before the mainnet launch. The goal is to significantly decouple the processes of staking and delegating while stabilizing them.
Suppose you’re interested in discovering what Tron Stake 2.0 is all about. In that case, this article will explore this upcoming development of the Tron network in depth!
Key Takeaways
- Tron Stake 2.0 is a newer version of Tron’s staking mechanism, which aims to provide better incentives to stakers and improve the overall Tron ecosystem.
- Staking refers to holding a certain amount of TRX (Tron’s native cryptocurrency) to participate in Tron’s network by voting for super representatives, who are responsible for verifying transactions on the network and building blocks.
- Tron Stake 2.0 will also allow users to unfreeze staked TRX anytime instead of just after 3 days.
How Tron Stake 2.0 Works in General?
Tron Stake 2.0 is a new and improved stake mechanism proposed by the TRON community. It requires an on-chain governance vote to open, after which staking can only be done through Stake 2.0. The Stake 2.0 mechanism is built on the Delegated Proof of Stake (DPoS) consensus mechanism, which allows TRX holders to vote for Super Representatives and participate in the governance of the TRON network. Staking TRX on the TRON network provides voting rights called TRON Power and bandwidth or energy as resources.
TRON’s virtual machine (TVM) now supports all instructions related to Stake 2.0, bringing more opportunities for smart contract developers. The resources obtained under Stake 1.0 can still be used, but after Stake 2.0 is opened, staking can only be done through Stake 2.0.
How Is Tron Stake 2.0 Better?
Tron Stake 2.0 offers several improvements over Stake 1.0. Stake 2.0 improves stake flexibility, lowers the complexity of user operations, and improves resource delegating efficiency and resource usage when compared to Stake 1.0. This makes it easier for TRX holders to delegate their stake to Super Representatives and receive rewards.
With Stake 1.0, users had to lock up their TRX for at least three days and could not access their funds during that time. With Tron Stake 2.0, users can stake their TRX for as little as one day and still earn rewards. Moreover, users can stop staking at any time and access their funds.
Difference Between Stake 1.0 and Stake 2.0
| Features | Tron Stake 1.0 | Tron Stake 2.0 |
|---|---|---|
| TVM support | No stake and delegate-related instructions | Supports all Stake 2.0-related instructions |
| Resource management | Delegating resources and staking are combined | Separates resource delegating from staking, providing additional resource management flexibility |
| Unstaking lock-up period | Users can unstake TRX after three days | Flexible lock-up period, users can unstake when they want |
| Cancellation of votes | All votes are lost when unstaking TRX | Partial unstaking won’t cancel all votes; it only revokes a specific number of votes as necessary |
| Resource receivers | Stakers can only designate resource receivers | Stakers acquire resources by staking first, after which they can be delegated to others |
Where to Stake Tron?
Tron can be staked through Guarda Wallet, a multi-platform cryptocurrency wallet that allows users to manage their digital assets safely and securely. One of the advantages of staking Tron through Guarda Wallet is that it gives you full responsibility for your funds.
Guarda Wallet also offers to stake through various validators, which helps to reduce the risks associated with staking. Suppose one validator experiences downtime or other issues. In that case, you can switch to another validator without losing your staking rewards or TRX.
How to Stake Tron With Guarda Wallet?
Staking Tron with Guarda Wallet is a great way to earn passive income while contributing to the stability and security of the Tron network. With Guarda Wallet, staking TRX is a simple process. Here are the steps to follow:
- Download the Guarda Wallet app on your device or open it through a web browser; then create a new wallet or import an existing one.
- Buy TRX with Visa/Mastercard, SEPA transfer, and others in various fiat currencies, including USD, CAD, EUR, NGN, and JPY. You can also exchange another asset in your wallet for Tron or receive Tron in your wallet.
- Once you have TRX in your wallet, go to the ‘Earn’ section and select Tron (TRX).
- Choose the amount of TRX you want to stake and add it to the ‘Deposit Amount’ bar. You will see the annual yield when you use Guarda’s validator. Guarda Wallet also supports different validators, each with its staking rewards and fees.
- After that, choose the resource you want to receive. It could be Energy or Bandwidth.
- Confirm the transaction details and click ‘Next’ to complete the staking process.
- Once your staking transaction is confirmed, you will receive rewards based on the validator’s rules.
Summary
Tron Stake 2.0 offers more flexibility regarding staking and resource delegation than its predecessor—Stake 1.0. It is built on the Delegated Proof of Stake (DPoS) consensus mechanism, allowing TRX holders to vote for Super Representatives and participate in the governance of the TRON network.
Stake 2.0 improves on Stake 1.0 by separating resource delegating from staking, improving resource management flexibility, and enabling TVM to support staking and resource management.
