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RE: WATCH #TheRealFlippening UNFOLD. Decred - The real competitor of Bitcoin is not Ethereum
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.