What is Decred (DCR)? Why is it Going up During a Bear Market?
To be honest, I have heard of Decred (DCR) a couple times before but I haven’t taken a look at it to understand it…. until now. As you can see below, while most cryptocurrencies started to drop around mid-January (both in USD and BTC terms), Decred increased by more than 50% (in BTC terms). As of today, the coin is sitting at the 27th position on CoinMarketCap with a market cap of almost 700 million dollars. Let’s take a brief look at this cryptocurrency and the possible reasons of its price increase.
Decred (DCR) is a cryptocurrency with a strong focus on community that utilizes a hybrid proof-of-workand proof-of-stake system. The cryptocurrency has a decentralized governance: DCR holders can easily vote on new consensus rules.
Here’s what the team have been up to / plan on working in 2018.
–SPV Wallet Support
-Initial Privacy Release
-Decentralized Control of Funds
This will allow Decred stakeholders to vote on the disbursements on-chain and release the funds.
-Decentralized Autonomous Entities
Similar to a DAO (Decentralized Autonomous Organisation)
Decrediton is Decred’s cross-platform GUI wallet. The team will integrate it to their subprojects such as SPV support, mobile platforms, Politeia voting and Lightning Network.
They will scale up digital marketing and other marketing initiatives in 2018.
Recently, new exchange listings have been announced:
OKEx and Huobi are part of the top three biggest exchanges by volume traded.
Other Points to Take Into Consideration
It seems like most of the development team has been working on the project since now more than 2 years, which proves that they really believe in their project. Also, they have been able to do a lot of progress during these years. On different social medias, the team is referred as one of the best in the whole crypto space.
10% of the block reward is going to the project fund, which makes it sustainable to pay developers for their work.
The PoW – PoS architecture makes it very difficult to perform a 51% attack.
The initial distribution was fair, compared to most recent projects. 4% of the initial supply was bought by the original developers and 4% was airdropped to the community.
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