Review on Decred by Inioluwa Okedeji

Name: Decred
Item: Decred
Rating: 3

January 06, 2021

Decred: A Community-Governed Project Equipped With A Hybrid Consensus Algorithm.

Decred is another exceptional project in the booming world of cryptocurrencies. The innovative use of both proof of work and proof of stake, a hybrid consensus algorithm makes it a rather distinctive project among other cryptocurrency projects. Although other projects with this same feature exists, creating competition which is unavoidable because as we all know, the global market is a competitive place.
In terms of security, the Decred Project is more formidable against attacks compared to other projects which only uses the POW algorithm or only the POS algorithm, the hybrid algorithm makes it much more difficult to experience any security breach because of the different layers of security it provides. This makes the Decred project a well secured project.
The sustainability of the Decred project is all thanks to the 10% of each block rewards which keeps the project running and also a flexible model that has been designed to compensate each contributor for a job well done.
The adaptability of the Decred project is another thing that catches my eye. This is because it operates a decentralized community with shared governance among the stakeholders of the project. This allows any upcoming development or decisions to be made and approved with the will and desire of the people. This is why it is adaptable because projects deemed fit by the people will be approved, making it easy for new developments to unfold.
The hybrid algorithm of the Decred Project which is the most important feature of the project makes it even more reliable. And I had no difficulty perusing the platform because it supports more than 5 languages of which English is among.
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Pros

Decred is a community governed project.
It uses a hybrid consensus algorithm.
The hybrid consensus algorithm provides different layers of security that ensures that the project is well secured and difficult to breach.
Decred project is a self-sustained project.
The platform supports more than 5 languages which makes it globally accessible.

Cons