Cryptocurrency Decred (DCR): overview, course, chart, how to buy and trade, forecast and prospects

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Decred (DCR) is a cryptocurrency launched in 2016 and is considered one of the direct competitors of Bitcoin. A notable feature of Decred is its built-in control system. In this way, the project developers eliminate the risk of a conflict of interest that invariably arises in the process of improving other blockchains.

Since 2016, the creators of Decred have continued to actively develop it. A lot of nice additional features have appeared or are planned, such as zero commissions, integration of the Lightning Network, improved privacy.

Information

Name Price Market Cap Supply Change % (7D) Performance
1 Decred
$21.32
$310,470,223.52 14562393.223371 DCR
-4.18%

Decred cryptocurrency performance as of June 18, 2019:

NameDecred
TickerDCR
TypeCryptocurrency
Capitalization286 896 310 $
Course29,08 $
Current issue9 951 141 DCR
Maximum emission21 000 000 DCR
Websitedecred.org/
Blockchain Explorermainnet.decred.org/
Twittertwitter.com/decredproject
Crypto exchanges for tradingBinance, EXMO, Kucoin, Bittrex, Gate, OKex, Huobi, Upbit, Poloniex, etc.
Launch year2016
ConsensusProof of Work (POW), Proof of Stake (POS)
Hashing algorithmBLAKE256

What is DCR

Working with Decred is possible through Windows, Linux and macOS – the application allows you to quickly and conveniently transfer and receive money. There are three ways to interact with DCR cryptocurrency:

✅  Send / receive via wallet (you can also participate in Proof-of-Stake voting there).

✅  Proof-of-Stake (PoS) – get rewarded for voting on important issues related to the network.

✅  Proof-of-Work (PoW) – mine coins using the power of your equipment, generating new blocks of transactions.

Some of the coins created are aimed at improving the system related to the desires and needs of its participants, for example:

✅  supporting the Lighting Network;

✅  decentralized control of funds;

✅  optimization of scalability;

✅  marketing;

✅  development of a decentralized service for currency exchange;

✅  implementation of the Decredition interface.

Schedule

Creation history and team

The coin is being developed under the leadership of Company0, which, in addition, has released two more well-known projects in the blockchain environment – programs for secure chat Zero Knowledge Chat and a set of programs for working with Bitcoin btcsuite.

In 2015, Jake Jock-Piatt, the CEO of Company0, wrote on his blog that he found it an interesting project to create an alternative implementation of Bitcoin from scratch. Bitcoin’s main problem back then was its governance system. In particular, Yokom-Piatt was worried about the fact that some of the BTC developers work for Blockstream. Jake Yokom-Piatt also said that Bitcoin does not allow developers to earn a normal income, and they most likely depend on companies to fund certain development paths. The first version of Decred was designed to address these issues.

Features and technical implementation

The main features offered by Decred:

✅  A hybrid consensus system that combines the principles of proof-of-stake (PoS) and proof-of-work (PoW).

✅  Availability of network-friendly technologies such as the Lightning Network.

✅  The ability to conduct cross-chain transactions between different cryptocurrencies.

✅  Multi-platform wallet.

✅  An open and transparent uncensored platform.

According to users, Decred is a reliable project. Its rapid development also speaks in favor of this.

Advantages and disadvantages

Pros:

✅ Every Decred user has the right to suggest feature enhancements and vote for their implementation.

✅ Team members have been dealing with cryptocurrencies since 2013

✅ Basically, the company spends money on expanding functionality, not marketing.

Cons:

❌  The only disadvantages are that many of the platform’s functions are still in development, and there is no exact data on their implementation.

Wallets

There is a cross-platform graphical wallet for DCR called Decrediton. It can be used under Windows, Mac or Linux operating systems. There is also a non-graphical (command line) wallet available for multiple platforms.

Other crypto wallets: CoinPayments Wallet, Exodus, Holy Transaction, Ledger Nano S, Satowallet Exchange, Evercoin Wallet.

Mining

Mining is the process of verifying the authenticity of transactions for which miners receive DCR coins. Decred supports two ways to verify transactions at once:

  1. Proof-of-Work (PoW). Transactions are formed into blocks, which are then verified by miners. When a block is confirmed, it is permanently placed on the Decred blockchain. Anyone who is ready to provide the power of their computer for computing can become a miner. You can mine in a pool, it is more efficient.
  2. Proof-of-Stake (PoS). This is a vote that requires little or no computing resources. The scheme works as follows: Decred coins are used to buy tickets that give the right to vote on the network. For each block, 5 tickets are randomly selected to confirm the previous block.

PoS is needed to increase Decred’s level of decentralization.

How to buy or sell Decred on Binance

You can buy or sell cryptocurrency on one of the cryptocurrency exchanges that support it, for example, Binance.

To do this, log in to the website and go to the trading terminal. Use the search field to find the coin you are looking for. As you can see, DCR is traded only in tandem with Bitcoins.

Use the forms at the bottom of the terminal to create a buy or sell order.

The purchased cryptocurrency is stored in the Funds – Balance section, or Funds – Balance, you can get there from the top menu. To quickly find a coin in the list, use the search field.

Perspectives

The main value of DCR at the moment is that it offers a smarter management model than BTC. Through split mining, Decred can more effectively achieve the convergence of decentralization and user interests.

The development team is familiar with cryptocurrencies firsthand and has sufficient development experience. To understand what awaits the project next, you need to do the development, fulfillment of plans and promises, as well as the conclusion of partnerships with other companies.

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