Decred: A Decentralized Cryptocurrency
Decred is a decentralized cryptocurrency that aims to put coin holders in control through a unique hybrid proof-of-work (PoW) and proof-of-stake (PoS) mining system. Here are the key features of Decred:
- Anyone who stakes Decred has direct voting rights on network changes, proposals, and treasury spending.
- Stakers earn a portion of the block reward for their participation.
- Decred's treasury is self-funded from 10% of the block reward, ensuring consistent funding for development, marketing, and other project-related activities.
Decentralized Autonomous Organization (DAO)
Decred operates as a Layer 1 DAO, with a proposal platform for funding projects and stakeholder voting to approve proposals. Decred offers opt-in privacy with post-quantum secure cryptography, while maintaining a transparent and auditable coin supply. Decred has built its own DEX using atomic-swap technology, allowing peer-to-peer trading with no fees or KYC requirements. Decred's hybrid consensus system is resistant to 51% attacks, with no majority attacks to date. Decred is implementing the Lightning Network for Layer 2 scaling, alongside