Decred cryptocurrency has become one of the few projects that has abandoned third-party funding and has focused on constant interaction with the community. And the improvements that are planned for this year should have a positive impact on the value of the coin. What is Decred cryptocurrency and is it good idea to invest in it? We will talk about it in this article!
- Designation – DCR
- In a back – 8,419,474 DCR
- Total Emission – 21,000,000 DCR
- Commencement of bidding – February 10, 2016
- Trading on the stock exchange – fex, Bittrex, Upbit, OOOBTC, Poloniex, Cryptopia 1, YoBit, Bleutrade, Tux Exchange, Nanex
- Project website
What is Decred cryptocurrency?
Decred is an open source blockchain platform with a hybrid PoW / PoS consensus system, with a focus on community input to its development, open management and stable funding. Holders of a sufficient number of DCR coins can vote for the further development of the project, as shareholders of this project.
Decred is a platform with principles that have been developed to form a stable and equitable structure that allows you to create an autonomous and fully decentralized currency.
Any users can offer their ideas for the development of the Decred platform. On the basis of a vote, upon receipt of 75% support, proposals will be accepted and included in the development. At the same time, voting for the distribution of self-financing is carried out – users themselves decide which areas will get more funds.
The Decredblockchain implements a hybrid consensus method, that includes the principle of confirming ownership of shares – PoS, and the principle of confirming work done – PoW. This guarantees at the same time a “fair” issue and at the same time considers the annual income from the deposit. Thus, the system is protected from monopolization, because development requires the participation of miners of two types.
Premin was mined 8% of the total of 21 million coins (total 1.68 million). The extracted DCR cryptocurrency was split equally into development costs and “airdrop DCR” costs.
Decred employs 26 professionals who wish to remain anonymous. It is known that most of them were blockchain developers of the BTCSuite algorithm in Bitcoin, written in the Go programming language. The open source BTCSsuite algorithm Go is used in other projects.
Project management by users is a very original way to make decisions about the future of cryptocurrency. This allows reaching consensus in most cases and is a good example of a democratic system. The team consists of professionals and is constantly expanding.
Planned improvements for security in 2018, mobile wallet, Politeia, atomic swaps and other technical solutions will certainly affect the market value of Decred.