The live price of Decred is - per (DCR / USD) with a current market cap of $241.83M USD. 24-hour trading volume is - USD. DCR to USD price is updated in real-time. Decred is -% in the last 24 hours with a circulating supply of 16.80M.
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Decred (DCR) is a self-governed digital currency. Similar to Bitcoin, Decred is a cryptocurrency that emphasizes community involvement, open governance, and sustainable funding and development. It uses a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining system to prevent small groups from dominating the network without community input. One unit of the currency is called a 'decred' (DCR). To ensure integrity and prevent fraudulent transactions or unauthorized coin creation, Decred uses blockchain technology to record transactions. Decred supports multiple platforms including Windows, macOS, and Linux. With the wallet app, users can easily send, receive, and mine Decred with just a few clicks.
DCR is designed to be a digital currency with payment functionality, similar to Bitcoin. Its primary innovation lies in improving the process of community consensus decision-making. It emphasizes community autonomy by introducing a PoW+PoS system, balancing the interests of miners and coin holders, and reducing the occurrence of empty blocks. This system also allows users to participate in voting on changes to the consensus mechanism.
Beyond governance, Decred is focused on developing atomic swaps for cross-chain trading. Atomic swaps use Bitcoin’s scripting language to create smart contracts that enable decentralized cross-chain exchanges, eliminating the need for third-party exchanges. This helps achieve true decentralization.
Bitcoin uses a PoW system where computational power equals voting power, but this has led to centralization among a few major players due to mining hardware centralization.
The root problem lies in governance—questions like who is in charge, who has decision-making rights, and whether the community accepts them are difficult to answer.
Decred combines PoW and PoS to ensure decisions are led by the community, not a few developers or early investors. Its token incentive design encourages developers to contribute high-quality work to the ecosystem. Many new features are planned, suggesting strong growth potential.
The core team previously worked on Bitcoin development, creating an alternative client to Bitcoin Core, and is considered technically competent.
The cryptocurrency market is highly competitive. Whether Decred can maintain a long-term advantage remains to be seen.
While Decred has unique technical strengths and design principles, its ability to implement and maintain its mechanisms effectively is critical. Planned features require significant financial and technical resources, which in turn depend on community growth and support.
Issuing Entity
Decred was officially launched in September 2015, with its mainnet going live on February 8, 2016.
Jake Yocom-Piatt and his team began working on Bitcoin development in 2013 and created an alternative client to Bitcoin Core, which was not well received by the Core community. Recognizing Bitcoin’s governance limitations, they left the Bitcoin community in 2014 to create Decred.
The founding team has a long history in cryptocurrency development and has built a diverse team of developers, strategists, designers, and more. The project is also supported by Litecoin founder Charlie Lee and Blockchain Capital partner Jimmy Song in advisory roles.
Core Team
Jake Yocom-Piatt is the lead developer of the Decred project. The core team includes former Bitcoin Core developers. In addition to their technical expertise, Decred uses a novel contractor model where verified contributors are paid for their work.
According to the official website, the team includes 28 developers, 14 community managers, and 4 marketing specialists. A Chinese community team has also been established, led by Yuwen, to strengthen outreach in Asia.
Use Cases
In the hybrid PoW+PoS model, Decred’s mining mechanism is similar to Bitcoin’s. The innovation is that new blocks must receive approval from at least 3 out of 5 randomly selected stakeholders to be considered valid. Anyone can participate by locking a certain amount of DCR as a guarantee to be eligible for voting. In addition to block validation, votes play a crucial role in changing the consensus rules.
10% of newly mined DCR is allocated to the development team, who can receive payment based on community-approved proposals.
The Decred wallet supports Windows, macOS, and Linux, allowing users to send, receive, and mine DCR. Mining machines that support DCR are available, and miners can join mining pools for better efficiency.
Business Model
Newly mined tokens are distributed as follows: 60% to PoW miners, 30% to PoS voters, and 10% to the project development fund.
Participants are rewarded for contributing to the community, whether by mining (PoW), voting (PoS), or participating in development and operations.
Once a positive feedback loop is established, Decred can operate without external funding. The development fund is managed by PoS voters.
Upcoming or ongoing features include the Lightning Network, anonymous transactions, the Politeia proposal system, and atomic swaps.
Development Progress
There have been delays in the privacy enhancement plans.
In its 2018 roadmap, Decred prioritized the completion of its governance system, particularly the Politeia proposal platform. Politeia allows users to submit proposals for Decred's development, which the community can vote on to determine whether to allocate development funds.
Other priorities include SPV wallets, privacy features, the Lightning Network, and market expansion.
Token Value
Decred did not conduct an ICO. At launch, 8% of the total 21 million token supply was pre-mined—4% airdropped to about 3,000 early supporters and 4% used to cover development costs.
Currently, about 47% of DCR in circulation is locked in the ticket pool, reflecting strong community involvement. This also suggests low levels of speculative trading, as buying tickets requires temporarily locking tokens.
The Decred to other currencies exchange rate?
