Review on Decred by ava sandres
Decred network and cryptocurrency review
The method is designed to allow users to agree on the blockchain's current state. There are two approaches of obtaining hierarchical agreement.
Proof-of-Work (PoW) is a term that refers to the process of proving that something is true. It only gets paid for the time you put into the system. This stage necessitates the use of computational power to solve puzzles. A new block is produced for each solution. As a result, the bigger the payoff, the more labour you put in.
Proof-of-Stakes (PoS) is a type of cryptocurrency. This is a prize for your wager. To show you are a linked party, you must keep your currencies affected for a period of time. The more money you have, the better the prize.
Pros
- It solely allows for the exchange of cryptocurrencies, not fiat money.
Cons
- Focus on Project Funding – This is where I'm going to receive some heat. When I first thought of how the project money may be used, I imagined that the community would perceive it as a way to help decred in particular.
