What is Decred – DCR?

 

Decred (DCR) is an open source, autonomous blockchain based digital currency that is “built to last”, according to the developers.  Autonomy is self-rule and DCR stakeholders make the rules.

 

“Decred is a global community that believes in financial independence, and community-based governance”

 

 

Decred was launched in February 2016 and developed by Bitcoin developers, led by Jake Yocom-Piatt, who engineered btcsuite which is an alternative full-node Bitcoin. A hybrid of both Proof-of Work and Proof-of-Stake mechanisms are used to provide the consensus that confirms new blocks and transactions. Proof of Work is a computer algorithm which is used by cryptocurrencies like Bitcoin, Ethereum, Litecoin, and EOT – miners who confirm blocks are rewarded with the crypto.  Proof of Stake is a concept whereby a person can mine or validate block transactions according to how many coins he or she holds – the more coins owned the more mining power.

 

 

DCR was released with 8% premine with 4% used for airdrops.  Over 40% of the total volume of 21,000,000 DCR has been mined (September 2018).   

 

 

 

 

According to the Decred website, other DCR features are:-

  • A censorship-resistant blockchain-anchored public proposal platform
  • Smart contracts that work such as Lightning Network
  • Cross-chain atomic swaps between different digital currencies
  • Cross-platform wallets for ease of use

 

 

What is the price prediction

In a recent report published by the STATIS group, DCR is a crypto asset which applies “unique value propositions within deep and viral markets”.  DCR is predicted to grow in value to $535 in the next five years.

 

 

Where to buy DCR

Most DCR volume is traded on four exchanges – Bittrex, Huobi OOOBTC, Poloniex

New exchange Bank-Ezy listed Decred (DCR) end August 2018.

 

 

 

Decred (DCR) blog and community

 

 

Watch this short video to learn more about Decred (DCR)

 

 

Get your copy of What is Bitcoin

This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital, not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.

 

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