Rethink the cryptocurrency
A group of Bitcoin developers along with the makers of btcsuite have revealed that they are currently building Decred which is an alternative digital currency. The project, according to the press release, is seen as one to address “the issues of project governance and development funding” that is seen as prevalent in Bitcoin today.
Some of you might have never heard of Bitcoin, Bitcoin is in short form an online digital “cryptographic” currency which is being used around the globe but, it has some issues.
Now why is Decred the perfect option to invest in?
The group has seperated them from the Bitcoin development because they want to create a digital currency that is open for everyone the Bitcoin currency may seem open but the core is being controlled by a group of people who decide what can and cannot be changed. The Decred team doesn’t want that anymore that’s why they have decided to split up and create a new Digital currency.
Decred sound like something new which it also is but I would like to remind you that this is an open development currency which will create a steady userbase/developersbase. And since they already have experience with the Bitcoin development they know where the errors/fails in those systems are and they want to tackle them down with this new cryptocurrency.
Some key features of Decred:
- proof-of-work (PoW) and proof-of-stake (PoS) system to maintain a balance between miners and voters
- Open and self-funded development with block subsidy
- Uses Blake-256 hashing algorithm
- Approximately 21 million coins
- 8% premine (includes the airdrop)
- Decred may be compatible with Bitcoin
- Decred community members will be involved in making bottom-up non-financial decision making easier
- secp256k1 signature e or Ed25519/secp256k1-Schnorr for easy integration into existing software
- It is entirely writtin in Go.
Starting block reward: 31.13408239 per block
-PoS acts as a “2nd authentication factor” on the content of blocks created by PoW miners, providing a check on the power of PoW miners.
-PoS helps to democratize the process of deciding what software upgrades should and should not happen.
Who exactly created./ funded Decred?
Are you ready for Decred?
Decred has scheduled an airdrop for the next month (which is 16 days from the post date), on this airdrop they’ll be giving out 4 percent of the total Decred supply to all participants.
To be exact, it will be on the 16th of January.
Are you still interested and are you willing to participate in the airdrop?
Sign yourself up on the following link:
or signup on the forum which is:
When you have problems with the signup you can always talk on the chat #decred on freenode irc. You can use the following link if you haven’t got any client for IRC.
If you are also interested to take a part in the development you can also find the details on the website.
You can also participate on the subreddit on Reddit:
You want to mine Decred?
There will be a command line wallet available before launch which allows users to mine PoS and collect rewards by participating in the PoW/PoS consensus system. For the GPU-miners among us a simple AMD GPU miner that connects to a local daemon will be available before launch.
PoW mining: point cgminer at an instance of daemon.
PoS mining: Wallet running as a daemon will lock coins to buy tickets which are called upon via random lottery to vote on PoW blocks and rewards are issued for doing so.
Other Decred related links: