Review on Decred by Davis Marvel O'cho

Name: Decred
Item: Decred
Rating: 4

May 05, 2020

Decred, The crypto who wanted to compete with bitcoin

Decred is a decentralized virtual currency, entirely managed by its community. A few developers from the Bitcoin universe are behind this project. Indeed, tired of the centralization of Bitcoin, this new core has decided to launch a fork of Bitcoin. Decred is an open-source and scalable project that integrates all members of its community in decision-making.

The Decred system is materialized by a hybrid consensus system which combines Proof-of-work and Proof-of-stake. The goal is to strike a balance between the wishes of miners and users through this hybrid mining. A block is validated every five minutes, compared to ten minutes for Bitcoin, and the transaction fees are also much lower. Decred uses the Blake-256 hash algorithm and the Go language for programming.
﻿

Pros

The community is at the heart of the project. Decisions for the future of the network are made by the community through a blockchain voting system.
Members are in direct contact with the developers and can act together for the benefit of Decred. We find a system of democracy.
Decred offers wallets compatible with several systems such as Windows, macOS and Linux, and even a web wallet that does not need to be installed on a device.

Cons