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RE: WATCH #TheRealFlippening UNFOLD. Decred - The real competitor of Bitcoin is not Ethereum
Decred - The only cryptocurrency which solves the governance problem of Bitcoin
Ironic you're posting this on the Steem blockchain, which also solves the governance problem. Do you vote on witnesses?
Steem does not share the same goal. Can token holders of Steem vote for Lightning network or zk-SNARKs or RingCT or changes in the protocol? I do not think so. Decred can do that.
We vote on Witnesses, and witness have the final say on any hardforks or upgrades.
I only took a quick look at the Decred website, didn't have time to read in depth, so sorry for my ignorance. I'll definitely check into it.
What essentially is the difference in a nutshell? That any holder can vote on any proposal directly?
By the way, I am completely ignorant towards Steemits whitepaper! ... But any holder of Decred who can afford the ticket price will have a selection of votes to choose from. This "price" is not costing you anything. It just locks up the coins.
The DCRs are locked up in staking for 1-6 months, with a few percentages of profit. Right now, 35% of all Decred are staked.
A Couple of weeks ago, Decred successfully voted for Lightning Network, and also the implementation of a new algorithm for more stable ticket prices.
The next voting will be which privacy feature Decred will use. So you can choose between RingCT or zk-SNARKs
And by the way, the miners also have their say :)
How does Steemit do it with the Witnesses? I do not understand completely.