Decred (DCR) is a cryptocurrency that was launched in February 2016 and is self-proclaimed as an “open, progressive, and self-funding cryptocurrency with a system of community-based governance integrated into its blockchain”. It means that Decred is planning to resolve the common issues of mining community: decentralisation and fair rewards.
Decred was launched by Company 0, founded by the team of btcsuite developers. As it was said, the main reason to create a new coin was to escape the growing power of selected people in the Bitcoin mining community. Hence, the brilliant Decred algorithm that combines two consensus methods (proof-of-stake and proof-of-work) was created. The new algorithm allows all the people in the community to take part in governing the coin. Resource-hungry mining doesn’t allow concentrating funds in the small groups of VIPs anymore! Now, there are two ways to interact with the blockchain: PoW and PoS. The former uses your computing power to generate new tokens and validate transactions running through the network, the latter allows you to use your funds and validate transactions running through the network. Both types of Decred mining are rewarded from DCR block reward. PoW miners get 60%, PoS — 30%, and 10% go to the Decred Project Treasury.
To prove its self-governance, Decred uses a lottery system to select five tickets from each pool to validate the previous block and vote if any changes to the consensus protocol are needed. There is a fixed number of tickets in the pool and every 144 blocks Decred uses a special algorithm to determine a new price for a ticket.
The coin has proved to be secure and profitable. Decred price is steadily growing with the time and all agree that this coin is a good investment to make.
It doesn’t matter if you are planning on participating in Decred mining or staking, you’ll never have a question on how to buy or use Decred coin. There are many Decred wallets to choose from, whether you want a quick on-the-go mobile option, Chrome extension or full-on web-wallet. You can explore all those options for Decred with Guarda! And if you are new to the coin you can get started by purchasing DCR with Guarda built-in exchange.
It is! One of Decred’s main goals is transparency. Due to their open stance at any moment you can look through any block and transaction on the blockchain. If you are unsatisfied with any part of the algorithm or the system you can vote for it to change. Decred value is measured in trust of its community. What is more secure than a development ecosystem supervised by the community? As described by the developers, Decred is constantly evolving to grant the best for everyone. Join if you want to make a change!
Guarda Wallet is a multicurrency non-custodial light wallet. We support the most popular coins and tokens, and Decred is one of them! It is easy to use, you don’t even need to create an account and you can feel secure about your coin – we don’t store any of the user’s personal data. Guarda was designed as an interface where clients can manage, store, transfer and receive coins and tokens.