Review on Decred by Olugbenga Ajayi
Decreed is better governed
Decreed was founded by Jake and other software developers who previously contributed to other projects. These people were crypto enthusiast who figured out that decision making gets more and more centralizd As a result the founder founded it in order to better organize the development and decentralization of ddecision mmaking in cryptocurrency.
To achieve this they make use of two governance consensus system and each has different percentage and are mined at different cost. The of token decreed project is DCR
This first is proof of work (PoW) consensus system in which miners create the blockchain and earn a position of the block reward. Reward for mining in Pow is 60% at 9.42 DCR.
The second governance system is proof of stake (PoS) where stakeholders purchase tickets that earn a portion of the block reward, participate on on chain and off chain network governance and validate block discovered by miners.Reward for mining with proof of stake is 30% at 1.57 DCR.
It has a total of 21million capped supply with 8% premined at launch which has the value of 1.68million DCR. They recently added new features for better miners experience. These features are:
1. Plans for decentralized exchange (DEX).
2. Coin shuffle++, a non custodial procesa for creating conjoin transaction.
3. An OCX lightning network which is currently in the testing phase.
Pros
- Better voting system compared to other cryptocurrency projects
- Very good customer service
- Community based and enabled decentralized decision making
Cons
- Low market adoption
New products
Comments (1)
May 28, 2020
To achieve the aim of founding this pool, two governance consensus systemmust be put in place, and each system had different percentage and are mined at different cost. The first one is proof of work (pow)consensus system while the second one is proof of stake (pos).
