Decred is a payment cryptocurrency created in 2016 to serve as an alternative to Bitcoin. As Kriptokoin.com , we will answer the question “What is Decred” in this article. In addition, we will answer other questions about the project.
What is Decred?
is a cryptocurrency designed to provide a solution to Bitcoin’s scalability seen as one of its problems. The beginning of the project dates back to 2014. It is built on top of the Bitcoin code base. However, it contains adjustments to achieve greater scalability. The network uses a hybrid consensus protocol combining Proof-of-Work and Proof-of-Stake. In this hybrid model, PoW validates transactions. On the other hand, PoS is used in network upgrade proposals and voting.
Additionally, the hard fork (hard fork) of Bitcoin and Bitcoin Cash in the past resulted in “bloody”, so to speak. Decred, on the other hand, was created to prevent such a problem from happening again. Because the platform has a decentralized and self-managed system. For this reason, a hard fork cannot happen unless the majority accepts it.
What are the features of Decred?
Ecosystem; It is designed to be safe, adaptable and sustainable. The platform is more secure than other PoW or PoS-based chains, thanks to the hybrid Proof-of-Work and Proof-of-Stake consensus mechanism. However, the adopted governance model ensures fair evaluation of proposals. In addition, this model makes the platform resistant to forks and facilitates the integration of new features. The ecosystem has long-term goals. It is self-financing in order to avoid the financing problems that crypto projects may experience. 10% of the rewards on the blockchain are transferred to a treasury reserved for the development of the project.
What is Decred’s total supply and current price?
According to Coinecko data, the total supply of Decred is 21,000,0000 DCR just like Bitcoin. The circulating supply is 14,040,449 DCRs. However, the last 24-hour trading volume of the project is $1,059,272 while its market value is $555,267,488. DCR is currently trading at $39.50 on cryptocurrency exchanges. However, in April 2021 it climbed as high as $247.35 and broke its own price record.
What is Decred? How to take
DCR is currently traded on many major cryptocurrency exchanges. Users who want to invest in the platform should open an account in one of the exchanges where the platform is traded. Major exchanges where Decred is currently traded are listed as follows: Binance, Gate, Bittrex, Bybit, KuCoin, Huobi Global, Poloniex, MEXC and OKX. Investors wishing to buy Decred should open an account on one of these exchanges. Additionally, investors can deposit USDT etc into their wallets. must add a cryptocurrency.
