Decred v/s Bitcoin

Decred is a cryptocurrency which builds upon the strengths of Bitcoin. Both Bitcoin and Decred have a 21 million coins supply cap. Here's where things get interesting: Bitcoins mining subsidy is reduced by 50% every four years while Decred reduces its mining subsidy smoothly and gradually by 1% every 21 days. New Bitcoin blocks are found and broadcasted by proof-of-work miners who also received 100% of the Bitcoin reward this gives miners all the power leaving users without a way to coordinate and change the rules regarding what blocks are considered valid. This leaves open the possibility for hard fork in the chain as it has happened in the past leading to a number of chain splits including the most significant one called Bitcoin Cash.

Decred aims to improve on this by implementing a system of checks and balances on its proof-of-work, giving its users more say. In Decred, once a new block is found by a proof-of-work miner, the validity of that block is decided by a consensus vote cast by five stake voters. If a majority vote could not come to a consensus in block validity the found block is immediately rejected by the network if a block is deemed valid then the new minted Decred coins are split with 60% block reward going to miners and 30% goes to stake voters for doing their part to secure the chain. Decred's hybridized mining system makes sure that it's chain will never split. The remaining 10% of every Decred block is placed in the Decred development fund. The development fund makes Decred a self funded open source project with no need for outside capital or an ICO. How the development fund is spent is determined by the community through the project proposal website. Users get to vote on ideas to improve the network and select the development team to complete them.

Decred is coming up with privacy option and proposal system this year which is expected to boost is price. In my opinion it is severely undervalued. It is currently being traded on Poloniex, Bittrex and Upbit among major exchanges. Write in the comments below what you think about Decred and Bitcoin.

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