1 Level
6 Review
6 Karma
Review on Decred by QUAN PHU
Decred is essentially “Bitcoin with governance”. Many analysts attempt to…
Decred is essentially “Bitcoin with governance”. Many analysts attempt to categorize coins by industries, and the Level 1 hierarchy usually has three categories: currencies, platforms and applications. Decred is a currency that aims to be a store of value and medium of exchange, while improving on some of the drawbacks of Bitcoin.
Pros
- The feature of governance model enables owners (stakeholders) to do voting on a specific agendas or proposals for the Decred blockchain. That may also be inclusive of decisions like whether the development team needs to start working on a specific feature or not, whether to do activation of the code of any pre-developed feature or not, or even what are the best ways to take advantage of the development subsidy. The cryptocoin makes use of a hybridized consensus system that helps in creating a balance between users and miners, thus enabling the most powerful altcoin or crypto coin after Bitcoin.
Cons
- You can only stake if you buy a full ticket (~95 DCR, 3-8-'18). Though splitting a ticket will be possible in the future. The name Decred created feelings of akwardness and doubt because it wasn't clear how to pronounce. Yet another cryptocurrency that doesn't do that much new or better to justify being mass adopted.
