Decred is a project that uses a hybrid system of consensus protocols to protect the interests of both miners and ordinary users. Decred is a more decentralized cryptocurrency than Bitcoin, and all decisions about improving the system are made collectively by voting. If the developers want to introduce some kind of innovation, but the users reject it, everything will remain as it is. It has a simple and convenient wallet to conduct transactions with.
Decred works on a contractual agreement model that allows new people, teams, and companies to contribute to the project. Currently Decred consists of:
- 14+ developers who actively write new code, support the current code, and implement the functions of the roadmap.
- 19+ marketing managers who are involved in advertising and public relations.
- 8+ designers are working on the visual component of the project.
Decred’s team did not conduct an ICO, instead it went the way of self-financing. Because of this an interesting system of distribution of awarding mining was introduced: 10% of the mined coins are always appropriated to the development of the project, 60% goes to the PoW miners, and another 30% are distributed on the basis of PoS. The direction of funding is decided by vote, and anyone can make a proposal for improving the platform. For an idea to receive a green light, at least 75% of users must vote for it. Mining is available using simple video cards.
This coin was first added to exchanges on February 10th, 2016 at a rate of $0.95. Now its price is $36.42, with a market capitalization of $310,829,965. The maximum coins available are 21,000,000 DCR and the amount in circulation is 8,534,762 DCR.
So, we have an ambitious project that rewards its investors in an interesting way. Also of interest is the wallet that allows you to make transactions without verification and registration. The startup is fully funded and does not require any money, as often happens. To finish this review, I would like to quote Jimmy Song, a Bitcoin developer: «Decred is an innovative cryptocurrency with some amazing developers.»