Decred - A chip off the ol' Bitcoin block

Decred (DCR)

What is Decred?

Decred is a blockchain developed from the code of Bitcoin, but with a few alterations to improve the governance system. The goal of Decred is to serve as a payment method and a store of value, while ensuring big institutions aren’t able to manipulate community voting events.

Why does Decred have value?

Decred attempts to solve the issue surrounding Bitcoin forks. The influence of cooperative organizations and large groups on software upgrades has caused the Bitcoin network to diverge more than once. Decred gives voters the assurance that their vote will count.

What are the benefits of Decred?

●       Decentralized and transparent.

●       Lightning Network is available on the blockchain.

●       Users can get rewards by participating in community voting events.

What are the disadvantages of Decred?

●       Transactions take 5 minutes to confirm; longer than many other payment-oriented cryptocurrencies.

What are DCR’s Tokenomics?

The maximum supply of DCR is set at 21 million (just like Bitcoin). 8% were premined. 4% of that was distributed through airdrops, while the other half went to Company 0. The rest of the supply is mined using a proof of work consensus mechanism. 60% of the block rewards are given to the miners, 30% go to stakers who participate in community voting events, and 10% are stored in the Decred Treasury.

Who founded Decred?

Jake Yocom-Piatt and Marco Peereboom, from the Company 0.

Who are Decred’s investors?

Decred conducted a venture round in 2018. The main investors are Placeholder and BlueYard Capital.

Concise Crypto Grade:

C  :While we love that Decred was early in finding a way to incentivize users to participate in governance through their token; unfortunately they just haven’t been able to sustain the attention they had early on when they launched in 2016. It was a unique idea over 5 years ago, but now most crypto projects have borrowed similar incentive strategies and laid out better technology which leaves Decred at a disadvantage even to it’s original inspiration: Bitcoin and Ethereum. 

Where can I buy DCR?

Binance, Huobi Global, KuCoin, Bittrex, Gate.io, Poloniex.

What ecosystem does DCR run on?

Decred