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Decred: the younger brother of Bitcoin

decred-logo

Decred: the younger brother of Bitcoin

Decred (DCR) is a digital currency created back in 2015 by Bitcoin’s BTCSuite developers, an alternative full node bitcoin implementation written in Go.

“Decred uses a hybridized consensus system to strike a balance between miners and users to create a more robust currency”, as it was created both with proof of work (PoW) and with proof of stake (PoS).

This hybrid consensus system allows users to create a balance between proof-of-work miners and proof-of-stake users in order to have a much more robust consensus.

This relatively new cryptocurrency aims at addressing issues related to the increasing centralization of power within the bitcoin blockchain and the growing conflict of interest between the bitcoin community and those who fund the Bitcoin core project.

Also, it is important to say that Decred can be both mined and staked.

Why is another cryptocurrency needed?

When Bitcoin was originally released, it was working in a market that didn’t exist before. There were issues that could be fixed thanks to new digital currencies such as Litecoin or Dogecoin.

Of course, time is showing that Bitcoin is not a failure at all and it radically changed the idea of money.

Decred has several new features in order to combine the very best of proof-of-work and proof-of-stake chains with the main objective of utilising both systems in Decred.

Also, Decred defines itself as “self-funded and progressive” and it relies completely on a community governance and opensource features.

Decred developer Christina Jepson explained:

“The intention is not to attack what we currently have in Bitcoin. We want to recognize what has been done well, but instead, we want to take that and improve on what we think can be done better… That is the spirit that started the technology and we want to return to that to explore options to problems we cannot explore in the current system while we continue to support the Bitcoin software. Alternatives are progress and a way forward to improve the greater ecosystem.”

Decred Wallet

That said, if you want to start buying and selling Decred coins, you will need the right wallet to store them properly.

Recently, we at HolyTransaction added a new wallet on our platform in order to allow you to store your Decred right behind your bitcoin and more than other 20 digital currencies.

Within the same login, in fact, you can store all your cryptocurrencies in a safe place with low fees.

Open here your new wallet to store, buy and sell your favorite coins. 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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