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.