Decred

Decred

Decred (Decentralized Credit) is a self funded cryptocurrency project with community based governance.

Decred (/ˈdi:ˈkred/, /dɪˈkred/, dee-cred) is a blockchain-based cryptocurrency with a focus on community input, open governance, and sustainable development funding. It utilizes a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining system to ensure that a small group cannot dominate the flow of transactions or make changes to Decred without the input of the community. A unit of the currency is called a decred (DCR).

The Decred Constitution sets out some guiding principles for the project; the constitution is subject to amendment through Politeia proposals.

Mining

Proof of Work miners play a similar role for Decred as they do for Bitcoin, but with Decred they only receive 60% of the block reward.

Governance

Proof of Stake voting is central to Decred’s governance. Decred holders can time-lock (or “stake”) DCR to obtain voting tickets. Tickets are randomly called to vote on-chain; this involves both approving the work of PoW miners and voting Yes/No on any open rule change proposals. 30% of the block reward goes to the holders of the tickets that voted in that block.

The remaining 10% of the block reward goes into the Decred Treasury. Holders of live tickets decide how that treasury is used through Politeia proposals and voting.

Cryptocurrency wallets

Decrediton

Decrediton is Decred’s GUI wallet for Windows, MacOS and Linux. It supports voting through Voting Service Providers and offers the ability to buy tickets and participate in governance.

Command Line Interface (CLI)

There is also a Command Line Interface (CLI) for Windows, MacOS and Linux. The CLI exposes more advanced functionality, including the ability to run a personal voting wallet.

Hardware wallets

Decred is supported by Trezor and Ledger, two popular hardware wallet implementations.

Mobile wallets

Mobile wallets for Android and iOS are also available. To minimize data plan, processing power and storage requirements, the mobile wallets make use of SPV mode.

Timeline

September 2017

In June 2017 Decred became the first cryptocurrency project to approve a change to its protocol through a binding on-chain vote.

September 2017

Decred developers executed an atomic swap between Decred (DCR) and Litecoin (LTC) in September 2017.

February 8, 2016

Block 0 Mined on Mainnet| Decred Block Explorer

People

Name
Role
LinkedIn

Josh Rickmar

Co-Founder

Alex Yocom-Piatt

Co-Founder

Dave Collins

Co-Founder

David Hill

Co-Founder

Jake Yocom-Piatt

Co-Founder

John Vernaleo

Co-Founder

Further reading

Title
Author
Link
Type
Date

3 Things You Need to Know About Decred - Decred - Medium

Jon Creasy

News

Decred Investment Thesis -- Placeholder

Web

May 12, 2018

Decred Is The Most Undervalued Cryptocurrency With A 15% Dividend-Like Yield, Possibly The Next Bitcoin

LCC Investment Research

Web

DTB001: Decred Technical Brief

Christina Jepson

Documentaries, videos and podcasts

Title
Date
Link

Decred Assembly - Ep9 - Litecoin, Decred and More w/ Charlie Lee - YouTube

July 10, 2017

Decred in Depth - Ep. 1 - Jonathan Zeppettini (JZ) - DCR 101

June 3, 2019

What is Decred? Facts, Features, Function of Decred Cryptocurrency Coin

April 2, 2017

Companies

Company
CEO
Location
Products/Services

Decred

decred.org

Better Money

References

Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.