[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"59bcbac6-cc24-4710-9b27-e5dc720eeeca","updated_at":"2022-07-25T12:03:00+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"The crypto market has mushroomed in recent years, with many advanced platforms and new digital currencies appearing. Born with the goal of creating a network where every participant has the same amount of power, Decred has won the trust of blockchain communities. Let’s take a deep dive into Decred!","sapo":"The crypto market has mushroomed in recent years, with many advanced platforms and new digital currencies appearing. Born with the goal of creating a network where every participant has the same amount of power, Decred has won the trust of blockchain communities. Let’s take a deep dive into Decred!","title":"Is Decred (DCR) A Good Investment?","content":"

Introduction to Decred

Decred (DCR) is a blockchain network with a strong focus on governance and with the goal of creating a network where every participant has the same amount of power.

In order to achieve that vision, Decred is building a unique hybrid proof-of-work (PoW) and proof-of-stake (PoS) consensus system.

The application of Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining systems ensures that without the input of community, it is impossible for a small group to dominate the flow of transactions or make changes to Decred.

About DCR token

Decred (Symbol: DCR) is a block-chain based cryptocurrency aiming to resolve some key issues with Bitcoin.

DCR token prioritizes community input, open governance, and sustainable funding for development.

Below are some use cases of Decred:

Using Decred with the currency function:

Use DCR coin with the function of storing and transporting value, similar to BTC.
Use DCR as currency to pay when buying goods or using services at merchants that accept DCR.

Participate in Decred Blockchain activities:

Use DCR coin to staking in PoS mechanism.
Use DCR coin to vote for proposals, and they will receive DCR reward in return.

History of Decred

Decred’s origin traced back to April 2013 when a pseudonymous developers tacotime responded to a thread on Bitcointalk stating that they had been thinking up a new cryptocurrency.

Shortly after that, he published the whitepaper “Memcoin2: A Hybrid Proof-of-Work, Proof-of-Stake Crypto-Currency,” sharing a technical specification of the idea.

Throughout 2013, tacotime coordinated development of the project with another pseudonymous individual named _ingsoc.

In 2014, the project was introduced to an open-source development firm called Company Zero (C0) led by CEO Jake Yocom-Piatt.

On December 12, 2015, Decred was announced by CEO Jake Yocom-Piatt as a solution to Bitcoin's perceived problems.

On February 8, 2016, the Decred mainnet was launched, along with the Decred constitution.

In June 2017, Decred became the first blockchain to make a successful direct on-chain user-activated consensus vote.

In October 2018, Decred's Politeia proposal system was launched.

Since its launch, Decred has gained a reputation as a community-directed, superior store of value.

DCR token first reached an all-time high of $250.02 on Apr 17, 2021.

How Decred works

Decred’s underlying technology is Bitcoin’s open-source codebase and thus the cryptocurrency offers similar features, with varying modifications.

Hybrid Consensus: PoW/PoS: DCR is a combination of proof-of-work (PoW) and proof-of-stake (PoS) consensus algorithm that effectively synchronizes the distributed network of computers on the blockchain.
Politeia: Politia is a Decred-implemented governance system that tries to establish an open environment for accepting and implementing them.
Lightning Network for Instant Transactions: Lightning Network is a way to settle payments off-blockchain, which reduces network congestion and transaction processing speeds.

Features of Decred

Secure: Decred's unique hybrid PoW/PoS consensus mechanism is more than 20x more expensive to attack than PoW alone because it provides layered security. By effectively aligning incentives between miners and stakeholders, it provides checks and balances to ensure long-term stability.
Adaptable: Decred's built-in governance systems facilitates a new way of making consensus changes and project-level decisions that avoids community-splitting forks.
Sustainable: Decred's block reward system allows the treasury to sustain itself over time: no outside funding is necessary. This ensures funds are used to match the project needs to realize the community's collective decisions. It also gives contributors the freedom to do the work that interests them most (and get paid).

Outlook on Decred

Decred was a part of the first wave of blockchain projects that came after Bitcoin, and it was built around optimizations to Bitcoin’s codebase with a hybrid consensus model and a system of open governance. In this sense, Decred can be loosely considered to be a fork of Bitcoin focused on greater decentralization.

Decred has many of the makings of an interesting cryptocurrency project, and by extension, an exciting investment opportunity for informed investors with their ears to the ground. Decred is still a fairly risky investment, though not to the degree of a memecoin. Further, Decred’s price trends in relation to the rest of the cryptocurrency market show independent price surges, which could prove useful to an experienced investor already in the cryptocurrency space.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, play trading game and earn real tokens with CryptoSim - Virtual Trading Game.

","tags":[],"image":{"fileName":"Decred-DCR-deep-dive.png"}}]

Is Decred (DCR) A Good Investment?

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