What is Decred(DCR)?
Decred is a cryptocurrency, similar to Bitcoin, with a strong focus on community input, open governance and sustainable financing and development which uses a hybridized consensus system to create a balance between miners and users to enable a more robust currency. It uses a hybrid proof-of-work and proof-of-stake mining system to ensure that a small group cannot dominate the flow of transactions or changes to Decred without the community’s consent.
The development of Decred began in April 2014, but it was formally launched on 8 February 2016. Decred development was funded by Company 0, and some of the costs were borne by the developers. Total supply of 21 million coins will exist in the ecosystem. 840 thousand DCR is pre-mined while the same amount is kept for Airdrop mode. 95% of the Decred coins are meant to be mined by 2034. The decred foundation keeps 10% of the block reward. At launch last year, 1 Decred was worth about $1.20. Today, it hit $5.30.
How does Decred(DCR) work?
The major selling point of Decred is the Decentralised governance, the core principle of a DAO. Decred wants to bring in a balance between PoW miners and PoS stakeholders as in PoW method the big miners can always ignore the points raised by the smaller miners.
In Decred, PoS stakeholders can put a certain amount of coins in the lock for 28 days to get voting rights. Once voted, the locked coin is unlocked and the participants also get paid to vote, which is an incentive to participate in the community and network. PoS stakeholders can upturn the decisions made by the PoW miners if they reach a 60% majority. Thus, the actual DCR coin users are in control of the network, unlike Bitcoin.
The PoW miners need to mine, at least, three votes per block to receive a greater reward. Thus, while miners are still the authority, they are much like an elected government which is controlled by the people to control the people.
How to buy Decred(DCR)?
One way to acquire Decred is to purchase some on an exchange. Since the release of Decred on February 8th, 2016, more than ten cryptocurrency exchanges have added support for Decred like Poloniex, Bittrex, Cryptopia, etc.. As Decred continues to grow in popularity, some transactions are offering Decred directly for fiat currency such as Changelly, LiteBit. First of all the user have to download an official wallet to store the coins.
Decred(DCR) Price prediction 2018
DCR can be a profitable investment option. Decred price equal to 112.436 USD at 2018-01-20. If you buy Decred for 100 dollars today, you will get a total of 0.889 DCR. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-01-13 is 252.487 US Dollars. With a 5-year investment, the revenue is expected to be around +124.56%. Your current $100 investment may be up to $224.56 in 2022. Decred (DCR) price today $106.99 and the market cap value is $705,201,908. The volume is $10,771,900 and has a current supply of 6,591,226 DCR. Decred (DCR) price chart, Decred (DCR) price today, Decred (DCR) exchanges, Decred (DCR) mining, where to buy Decred (DCR).