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Analytics / Breaking News / Cryptocoins

Decred (DCR) Leads By Example With Fair Governance

Decred Chart With Values

When Bitcoin (BTC) was first created the idea was to come up with a decentralized cryptocurrency that would be free of any external influence. Given the track record of government and financial in institutions, that idea was readily accepted by many and we saw cryptocurrencies surpass a market cap of $500 Billion. However, as time went by, many realized that there are some internal problems with most cryptocurrencies that are often neglected by the mainstream investor.

At the core of those internal issues, lies the issue of governance. It is a serious problem which Decred (DCR) is determined to solve. Minable coins like Bitcoin (BTC) have been dominated by large mining pools over the years. These miners have exceptionally high influence to shape the future of a cryptocurrency. For instance, during the Bitcoin Cash fork, there were many who would not have wanted a fork or bigger size blocks but the common investor was never asked about it. The decision was made by a minority, not a majority which is against the very principles Bitcoin (BTC) was founded on.

Decred (DCR) on the other hand resolves this issue by giving both miners and investors an equal say in shaping the future of the project. Decred (DCR) uses both Proof of Work (PoW) and Proof of Stake (PoS) at the same time. This means that miners are rewarded for the effort they put in and their say is important in the future direction of the company. However, at the same time, investors who hold Decred (DCR) are also able to vote over critical changes or upgrades through Proof of Stake (PoS). This type of model is what most cryptocurrencies need today for fair governance so as to enable them to shape their future in accordance with the wishes of those who are a part of the project.

Decred Chart With Values

Decred (DCR) is also one of the few projects to focus on atomic swaps. It has been very keen on addressing general concerns of investors and the issue of atomic swaps is one of them. This cryptocurrency was created by blockchain enthusiasts who first tried to work with the likes of Bitcoin (BTC) to address most issues that challenge decentralization and transparency. However, after facing rejection at the hands of big influence groups that have dominated certain cryptocurrencies for a long time, they decided to come up with their own cryptocurrency.

The price of Decred (DCR) received a big boost recently due to its presence at Consensus 2018. The cryptocurrency has also been one of the best performing ones historically. It has continued to be on a steady rise since April 1, 2018. Decred (DCR) also crossed $170 at a point but soon fell back to lower levels. Like most cryptocurrencies, Decred (DCR) has lost most of its bullish charm to a sluggish and uncertain Bitcoin (BTC). Decred (DCR) had previously reached a high of $135 before the big correction. While, the coin did touch higher highs for 2018, it failed to hold them. However, Decred still looks very bullish on the DCR/USD chart and is most likely on the verge of another breakout.


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