$ 22.82 right now
Trade name: DCR
Year of Foundation: 2016
What is Decred?
When bitcoin started, it was supposed to be a decentralized system. Along the way, however, a group of miners seemed to be controlling some decisions. Some developers were not happy, so they came up with a complete decentralized coin Decred (DCR).
It is a cryptocoin that puts emphasis and priority on decentralized governance and decision making on its blockchain. The coin is built with the aim of creating a cryptocurrency that runs autonomously. Any improvement must be voted on and agreed by the miners and users who hold the coin.
It uses some key changes from what bitcoin was supposed to offer. The bitcoin protocol it uses is a hybrid of the former. It uses a hybrid proof-of-stake protocol.
History of Decred
The coin was launched in February 2016. The developers claim that the coin is simple to use, with a few clicks, you can send, receive or mine the currency. It is a dream of a few bitcoin developers who had a vision of purely decentralized currency.
How it works
The process of mining this coin involves two significant things, a software program for solo or pool mining. You may need to gather resources that connect you to other miners because solo mining is not much of choice. Secondly, you will need the latest hardware model. You need the best configurations to mine.
How to use
There are three ways you can get involved with Decred.
- You can do it through the wallet- this will be used for sending and receiving the funds and also participating in the PoS mining.
- Also, you can use in PoW mining- simply using your computing power to validate transactions.
- And last, by using PoW mining – you vote on important network development.
All you need is to generate an address on which you can connect from any Decred.
It is not possible at the moment to buy Decred with Fiat currency. You will have to join an exchange and purchase other coins like Bitcoin or ETH first.