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What is Decred all about
Decred is a blockchain-based cryptocurrency, created by Company 0, as a result of the Bitcoin fork. Decred focuses on strong governance of the protocol since it introduces good features. Decred was designed to combat the problems of Bitcoin, such as its scalability. It is also fork-resistant, there can be no hard fork unless the majority of stakeholders agree on it.
In order to give both miners and the regular users a say in Decred's development, Decred introduces a combined consensus. It works on both the Proof-of-Work and Proof-of-Stake consensus mechanisms. PoW miners play the same role as they would in Bitcoin, but with Decred they receive 60% of the block reward. The next 30% is distributed among PoS voters. Decred holders can stake their DCR cryptocurrency and obtain voting tickets in return. Each ticket is then randomly called to participate in a vote. Once a ticket is used, its holder receives a small reward. In order for a chosen ticket to be valid, the user's wallet needs to be online. The remaining 10% of block rewards go into the Decred treasury.
To support the governance process, Decred utilizes Politeia. It is a platform designed to record all proposals, comments, and amendments to the blockchain. It provides records of the governance process and aims to mimic records websites of real-world governments.
Decred's blockchain received a compatibility upgrade in 2019 and now works with the Lightning network. Lightning Network is essentially a Layer-2 protocol, running on top of the main blockchain. It enables fast, low-cost transactions and much higher throughput than possible with just Layer 1.
The DCR cryptocurrency has the same supply as BTC, fixed at 21 million coins. DCR plays a big role in the governing process of Decred and also serves as an incentive to the network participants. Decred's block time is 5 minutes to Bitcoin's 10 minutes. Decred offers its own GUI wallet for DCR holders called Decredition. It supports governance activities like voting and purchasing voting tickets. Decred is also supported by some major hardware wallet providers like Trezor or Ledger.
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DCR Questions & Answers
How much is Decred worth today?
Current price of Decred is 26.78 Euro.
What will Decred be worth one month from now?
On the basis of our short term prediction, we suspect the price of Decred is likely going to be between €0 and €26.40 in 30 days.
Historically, what was the highest Decred price?
Decred's price was the highest on 2021-04-17, when it was at 206.44 Euro.
Is Decred going to cost more in 90 days?
Using our prediction algorithm we expect the price of Decred will be anywhere between €0 and €26.40 in three months time.
What price will Decred reach six months from now?
Difficult as it is forecasting long term based on our price prediction we expect that Decred's price is likely going to be between €0 and €26.40 half year from now.
Is Decred a popular project?
12640 people took part in discussing Decred online on Reddit in the last 48 hours. The official Decred Twitter account is followed by 54029 users.
10 days Decred price forecast
Long term Decred price prediction