As we go through this crypto bear market I’ve kept my eye on coins that have outperformed the general market.
In other words, coins that have gone down less than the rest. Binance (BNB) and Ontology (ONT) come to mind. Another is Decred (DCR).
Today I take a look at Decred.
Decred is a cryptocurrency, similar to Bitcoin, with a strong focus on community input, open governance and sustainable funding and development.
It was launched Feb 2016 by the bitcoin developers that engineered btcsuite, an alternative full-node Bitcoin implementation written in the Go programming language.
Like bitcoin, there’s a total supply of 21 million DCR. As of today there roughly 7.9 million DCR outstanding per the website.
Decred is different than bitcoin in that it utilizes a hybrid proof-of-work and proof-of-stake mining system. This keeps it decentralized.
Further, 60% of newly generated tokens go to the PoW miners, 30% to PoS voters, and 10% towards a development subsidy.
One of the problems it’s trying to solve is blockchain governance. We’ve seen with bitcoin that making changes to the network can be extremely difficult due to all the different parties involved.
Decred uses a censorship-resistant blockchain-anchored public proposal platform. That means Decred stakeholders can approve a change to its protocol through a binding on-chain vote.
It’s also self-funding as 10% of the Decred block reward goes into a "project subsidy" wallet, to be used to fund development and promotion of the project.
Other features include smart contracts that work such as Lightning Network, cross-chain atomic swaps, and cross-platform wallets for ease of use.
In fact the first on-chain atomic swap occurred between DCR and LTC.
The most recent news out of Decred is that it will be building a decentralized exchange. You can read out it here.
For more on what it’s doing check out the roadmap.
What do you think of Decred (DCR)?
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