Crypto Escapades Part 9 - What is Decred? + what is lightning network, politeia

in #cryptocurrency3 years ago (edited)

On today's escapade inside crypto we will feature Decred.

1. Introduction

Decred is an autonomous digital currency with a system of community-based governance.
Decred uses a hybrid system consensus to find a balance between miners and stakeholders creating a robust and versatile currency.

Evolution

Decred launched in February 2016.
The development of Decred was funded by Company 0 and its developers individually.

company0.png

Coin distribution

8% or 1.68 million Decred were premined and split equally between compensation for bring-up costs and an airdrop.
Airdrop sign-up was available to anybody and ran through January 2016.
The developers and project members committed to not trade any of their bring-up DCR for 12 months and Company 0 committed to not trade for 24 months.
These coins will be used to purchase proof of stake tickets with the intention of making the Decred network more secure.

distribution.png

Blockchain

decred new block explorer.png

Consensus Method: Proof of Work & Proof of Stake

pos & pow.png

Algorithm: Blake-256
Block Time: 4:56 for their last block
RPC port: TCP 9109
P2P port: TCP 9108

2. Leaderboard

leaderboard.png

Jake Yocom-Piatt is the organizer of the Decred project and CEO of company0.

leader twitter.png

His last tweet was a little while ago. He is probably out on vacation as you can see on his twitter profile.

leader github.png

Just kidding, he created an issue on Github this month.

3. Roadmap

The last update on their roadmap happened in August 2017.
Almost all the deadlines are being made.

2017 roadmap.png

4. Trading

coinmarketcap.png

Exchanges: Bittrex, Poloniex and Bluetrade
Volume: >7.500.000 USD
Market cap: >370.000.000 USD

In early 2017, DCR-USD traded below $2 but then broke $10 March and the bullish run didn't stop.
Decred trades under DCR on virtual currency exchanges.

5. (Customer) Support

Decentralized currencies such as Decred provide support on reddit, irc, slack and twitter.

Website
Reddit
IRC

6. Social Media

No facebook
Twitter: >23.000 followers.

7. News

September 20th 2017
First cross-chain atomatic swap between Decred and Litecoin.
Decred created simple prototype tools allowing Decred, Bitcoin and Litecoin users to swap between DCR, BTC and LTC.

Not much later Decred was added to 3 exchanges: LiteBit, Evercoin and korean Upbit.

October 25th 2017
A governance data storage system called Politeia was launched.

politeia.png

November 2017
New website, new block explorer and third-party companies external to the Decred project have revealed their intention to launch ASICs for Decred.

November 26th 2017
Launch of new features will allow Decred to completely support the most useful application of smart contracts to date: the forthcoming Lightning network.
The Lightning network will introduce (instant) micropayments for popular currencies aiming to nullify confirmation delays.
The lightning network allows for off-chain transactions that optionally settle on-chain. This infrastructure has clear benefits for both scaling and privacy.
Decred stakeholders voted on the Lightning implementation months ago (98 percent).

Decred will focus on more privacy offerings in the future.

Latest tweet

latest tweet.png

Update: they did not tweet anything worth mentioning.

Conclusion

It seems all the drama that could potentially happen with miners (like Bitcoin) will not happen. Decred takes the benefits out of both consensus models aiming for decentralization and better network stability.
On top of that are active in developing. They will keep upgrading the Lightning network and they will focus on more privacy offerings in the future.
On the plus side even more, the circulating supply of Decred has dropped over recent months.
This is due to an increase in staking participation. About 46.65! percent of available supply is being locked for staking purposes. When circulating supply goes down and demand goes up then the effects of economy come into place. Is this a ticket to the moon?

Always invest at your own risk. Be informed, I can help you being updated.
What's your opinion on Decred, do you like their project and is it a long term hold?
We will keep you posted and updated on and any cryptocurrency we feature on a regular basis.

Next cryptocurrencies in this weeks rotation:
Gamecredits

Previously on Crypto Escapades:

Quantum Project
Syscoin
Monaco
District0x
OKCash
Verge
BitBay
Cardano/ADA

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