Home / Others / Decred Revision (DCR): the digital currency of the people

Decred Revision (DCR): the digital currency of the people

Key information decreasing
First name Decred
teletypewriter DCR
Total supply 21,000,000
Initial price $ 0.95
Category Digital currency
URL of the site Go to Decred.Org
resources Read the Decred documentation

Decred's mission is to find a solution for blockchain governance. Through their decentralized decision-making and self-financing, the project has evolved to develop a multi-platform digital currency supported by Windows, MacOS and Linux and is completely autonomous. The Decred community is personally involved in the future of money and invested in its future.

The idea and the team behind Decred

Decred was developed as a response to Bitcoin's subsequent monitoring by a small group of people, miners who were lucky enough to afford the kind of mining equipment that allowed them to extract Bitcoin. Some original Bitcoin developers wanted to try to develop a decentralized currency and therefore not run the risk of being detected by a small and powerful minority. The main difference between Bitcoin and Decred is that Decred has found a way to solve blockchain governance through the use of technology and thus avoids the need for hard forks.

Decred was written in the Go (golang) programming language that was also used to develop Ethereum, Factom, BitGo, OpenBazaar and the Lightning network. The first version was released on 25 April 2017.

The currency is guided by a series of principles:

Free and open source software – Decred remains a company committed to maintaining its free and open source software.

Privacy and incremental security – The company firmly believes in continuing to implement security and privacy on incremental and on-demand points.

Free speech and consideration – Decred believes it is vital that users can communicate freely without being censored. Communication based on facts and reason will be allowed.
Multi-stakeholder inclusion – The idea of ​​having a variety of representatives offering different points of view is part of the multi-stakeholder inclusiveness principle that Decred follows.

History of descending prices

When Decred was launched in February 2016 as a community-funded project, it was trading at an average starting price of $ 0.95. In March 2017, the currency rose to $ 5.30. The following May reached $ 118.00. The currency has recently reached a one-day volume of over $ 1.2 million.

Decred technology

Decred is a distributed public ledger that uses both the Proof of Work (PoW) and Proof of of Stake (PoS) blockchain consent protocol. This combination of mechanisms is also referred to as Proof-of-Activity (PoA).

Recently, the latest version of the 1.31 software that supports the launch of Politeia.

Other features of the technology include:

Vote of consent – The consensus vote in Decred is characterized by a hybrid approach that combines both the Labor Proof (PoW) and the Profit Proof (PoS). The hybrid approach allows users to move from one set of rules to another while remaining within the blockchain ecosystem.

Cross-wallet platforms – Described wallets are supported in Windows, MacOS and Linux through graphical user interfaces. Command line interface (CLI) wallets are also an option for users.

Soon – The development of Decred is under way, with ongoing projects including a complete decentralized autonomous organization (DAO) and greater user privacy.

Lightning network – The Lightning network allows Decred to operate using smart contracts with an off-chain system that enables rapid payments in DCR.

Politea – Because it firmly believes in the elimination of censorship, Decred uses a public proposal platform anchored to the censorship-resistant blockchain. This allows users to carry forward their own self-financing project ideas and at the same time allow the ecosystem to continue to function and develop. Politea announced his mainnnet was launched on October 16th. Soon after, the community had to decide how to spend a $ 28 million budget using its democratic governance voting system. Multiple DCR owners can now also purchase a Proof-of-Stake ticket together.

Atomic swaps – Cross-chain atomic exchanges allow cash-free transactions between digital currencies without the need for an intermediary.

How to buy DCR

DragonEX is the main option for the purchase of DCR, as well as the exchange in which it has the highest trading volume of $ 542K. It is available for purchase with BTC.

DCR is also available on the following platforms:

How to consume DCR

Decred can be earned through the process of validating transactions on the Decred network and maintaining its security. Transactions can be validated through Proof of Work (PoW) or Proof-of-Stake (PoS).

You can download the mining software from the download page of the Decred website.

How to store DCR

DCR has its own portfolio, Decrediton, a multiplatform portfolio available in Windows, MacOS and Linux. It also offers a suite of command line application options.

For maximum security, it is best to store currency in a hardware portfolio such as Trezor or Ledger.

Roadmap and future plans

The official Decred roadmap is made up of milestones without concrete dates. The milestones for 2018 and 2019 that are both ongoing and new are:

  • Support of the SPV portfolio – Adding an SPV mechanism (simplified payment verification) for compact filtering so that the service can be used on a P2P network. The SPV protocol allows users to interact with a protocol without having to download it, allowing them to validate transactions without having to validate others.
  • Integration with Politeia– Allows users and stakeholders to make decisions about what happens in the project directly from the Decrediton portfolio.
  • Lighting network – Enables off-line transactions that are established on the chain, helping to optimize both scalability and privacy.
  • Release of initial privacy – Decred wants to have a unique privacy function, different from Monero and Zcash. For now, he has not released further details.
  • Decentralized control of the funds – Decentralized control of funds allows decentralized autonomous entities (AEDs) to own funds with a simple smart chain contract that has the authority of the audit funds and transfers that control to a group.
  • Decentralized autonomous entities (DAE) – Support the addition of Autonomous Decentral Entities (DAEs) with each built around an intelligent chain contract.
  • Scalability enhancements: Signature algorithm – Improve signature hashes to improve offline transaction signature devices such as cold wallets or cold wallets with compressed air, to the benefit of performance.
  • Decrediton integrations – Enable payment via Lightning Network from the Decrediton portfolio.

Decred has a live version of their Trello roadmap which is open to the public. Current current objectives include the inclusion of Livecoin, Gatecoin and Bit-Z, the increase in the number of meetups that the team attends and focuses on a public growth campaign that expands the presence of social networks of Decred.

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