1 Level
6 Review
1 Karma
Review on Decred by Juliette Loius
Decred is essentially “Bitcoin with governance”. Decred is a currency that…
Decred is essentially “Bitcoin with governance”. 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. In essense, Decred is the bitcoin you wanted bitcoin to be. Decred uses a different consensus mechanism than Bitcoin. This allows the coin to fund itself, build in on-chain governance, and arguably become more secure.
Pros
- Hybridization of PoW and PoS realigns incentives to make a more sustainable system. In this hybrid model, 60% of block rewards go to the miners, 30% goes to voters, and 10% is reserved for the project treasury. Decred is also resistant to the two most common attack vectors in crypto currencies and Blockchain
Cons
- They have a relaively small team compared to many projects that have gained limelight recently and they seem not to explore numerous options, but are kind of reserved in their approach.
