Decred

About Decred

The Decred blockchain was designed for community involvement and sustainable development, and is powered by the DCR token, which serves at the core of the Decred ecosystem.  Decred employs both the proof of work and proof of stake consensus mechanisms to eliminate the risk of one group monopolizing control of the Decred blockchain. Both miners and DCR holders have the opportunity to participate in the validation of blocks and, thus, in the evolution of the protocol via voting on how changes will be implemented. A unique feature of Decred’s design is the on-chain treasury, which directly funds development and ecosystem projects. As a result, the Decred blockchain is impervious to the requirement of external support. In addition to its on-chain treasury, Decred is also heavily focused on stakeholder voting, allowing each DCR holder to participate in the decision-making process regarding development and the governance of the Decred ecosystem. While Decred is not pursuing the decentralized application (dApp) trend so prevalent in the cryptocurrency space, the design of Decred is as a self-governing cryptocurrency with the intention of establishing a long-term digital currency. The overall Decred design provides for security and decentralization, as well as ongoing funding for development. Hence, DCR serves as both the medium for transactions on the Decred blockchain as well as the basis for influencing the future of the Decred blockchain ecosystem.