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Review on Decred by Bin Laden
Rather than fund the coin through an ICO, the developers initially funded the…
Rather than fund the coin through an ICO, the developers initially funded the project from their own pockets. They were able to either purchase DCR at a rate of $0.49 per coin or exchange it for work performed at the same rate. Their aim was to create a truly decentralized cryptocurrency that could not be dominated by mining interests or even its own developers. To do they took the unique step of allowing the Decred community to vote on the future direction of the cryptocurrency.
Pros
- Decred was founded by company 0’s CEO, Jake Yocom-Piatt, and began trading on February 10th 2016 and the team contained many former bitcoin developers. Prior to the launch of Decred, there was a premine that amounted to 8% of the total supply. 4% of this was held by company 0 to compensate developers. The remaining 4% was airdropped for free to new users.
Cons
- Prior to the launch of Decred, there was a premine that amounted to 8% of the total supply. 4% of this was held by company 0 to compensate developers. The remaining 4% was airdropped for free to new users. Growth is propelled by the benefits of compliance-free peer-to-peer transaction, cross-border remittance transfer, increase in use cases, volatility in the stock market, fluctuating monetary regulations in different countries, transparency, and immutability of the distributed ledger technology and benefits such as faster transaction and reduction in total ownership cost. Many of the developers behind Decred are the same people who helped design the grandfather of all cryptocurrencies, Bitcoin. These developers were frustrated with what they saw as a centralized development team imposing their will upon the community. These frustrations led Alex Jacob-Pitt and the other developers to found Company 0 and launch Decred in February 2016.
