Decred DCR

1. Summary

Ranks

Liquidity

95

Developer

-

Social

89

Momentum (beta)

59

Stack Rank™

-

Price

$20.94 -0.5%

Market Cap

$335.26M (#199)

Supply

15.84M / 21.00M

Tags

Cryptocurrency Governance Privacy Coins Layer 1 (L1) Proof of Work (PoW) Proof of Stake (PoS)

More Metrics

Price
52W High price	$27.10
52W High date	21st Feb 2023 (1 year ago)
All Time High (ATH) Date	17th Apr 2021 (3 years ago)
ATH Price	$247.35
% From ATH	-93.58%
All Time Low (ATL) Date	26th Dec 2016 (7 years ago)
ATL Price	$0.43
% From ATL	3580.51%

Supply & Trading Volume
Trading Volume (24h)	$2.25M
Total Supply	21.00M
Circulating Supply	15.84M

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Description

Decred can be seen as a project that essentially copied the code Bitcoin had and modified it in a way through which it empowered and rewarded token holders that contribute changes to the network as a whole.

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Decred can be seen as a project that essentially copied the code Bitcoin had and modified it in a way through which it empowered and rewarded token holders that contribute changes to the network as a whole.

The team actually created a hybrid consensus mechanism with components from Proof-of-Work (PoW) and Proof-of-Stake (PoS). The PoW miners essentially verify the transactions while the PoS stakers propose and vote on the network upgrades. Furthermore, it uses a proposal system known as Politea that ties all of this together, where the stakeholders can vote on project funding, new initiatives, and various other changes to the code of the protocol.

The DCR Token Explained

DCR is the native cryptocurrency of the project and has features such as the ability to participate in governance, interact with the community, and have a use when it comes to funding the network upgrades.

In fact, it plays a key role when it comes to the maintenance as well as the operation of the Decred network, and the consensus participants are rewarded in DCR for expanding the resources when it comes to securing the network.

DCR can be sent, received, and held, however, the tokens can also be staked to vote on future project developments as well as to participate in the consensus process.

The supply is also limited, and there can only ever be 21 million DCR.

Features of Decred

Remember how we mentioned that Decred is essentially a copy of Bitcoin’s code with slight variations? Well, it has similar features. For example, Decred’s block time is 5 minutes instead of Bitcoin’s 10. Its difficulty adjusts every 12 hours instead of every two weeks, and the block reward is allocated to miners, stakers as well as a treasury, as compared to the Bitcoin blockchain which gives 100% to the miners.

Speaking of miners, Decred miners use their computer’s energy to solve cryptographic puzzles in order to validate the transactions, after which they add blocks to the blockchain.

The PoS allows those who stake DCR to validate as well as confirm the transactions and participate in the network’s governance process.

The stakers are given what is known as tickets which serve the role as a non-transferable asset specific to the network and 20 tickets are available within each block, five of which are randomly chosen and their owners then validate the correctness of the blocks that are proposed by the miners.

Once the blocks are settled and added to the blockchain the reward is issued.

60% goes to the miners, 30% goes to the stakes and 10% goes to a treasury. Then you have Politia, which is the governance system used by Decred which creates an open environment for new ideas and a voting system for implementing them. Users that want to offer upgrades or policy changes can use the Politeia public proposal platform which handles the submission, tracking, and discussions surrounding these changes.

Founders of Decred (DCR)

The project originally was created in 2013 by a pseudonymous group of developers known as tacotime and _ingsoc. They released the whitepaper “Memcoin 2: A Hybrid Proof-of-Work, Proof-of-Stake Crypto-Currency”.

After that, in 2014, the project was given to the main enterprise that runs it today known as Company 0. They helped launch its mainnet in 2016, specifically in February.

Now, to truly understand who founded Decred, we need to understand who founded Company 0. It was founded by Jake Yocom-Paitt, who is the founder and CEO of the company and is serving as a project lead at the Decred project.

Then you have Marco Peereboom who is the chief technical officer at company 0.

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