The emergence of cryptocurrencies and the victorious march in the virtual world of Bitcoin became an alternative to ordinary money. However, despite its success, the system has some errors that were not taken into account when creating, but became relevant in the development process.

Lately, many digital products have appeared, and among them is the Decred cryptocurrency. It is called alternative, hybrid in relation to Bitcoin. It combined the two cryptographic protocols PoW and PoS, forming a new PoA, which ensures the functioning of the currency.

About Decred

For a long time, users did not have the opportunity to influence the future of digital coins, because they understood their main task as the extraction of money, and not their sale. After the emergence of DCR, traders, miners, investors received the right to influence the fate of the project without investing in the purchase of mining equipment. This approach does not allow a single group of participants to have complete control over the platform.

The Decred cryptocurrency appeared quite recently, in 2016, offering investors and network users an almost ideal option for financial turnover. As part of the new project, Bitcoins vulnerabilities were fixed and better characteristics were added. The currency came out safe, reliable, decentralized. Many miners support it, capitalization and the rate are growing very quickly. There were reasons for launching an alternative token related to the problems of the Bitcoin blockchain. The MTC network has shortcomings that negatively affect the entire system:

Project management. From the moment of its inception, it was decided that the decision is made by miners and control the entire system, conducting transactions, creating blocks. But the interests of developers, holders of BTC coins do not always coincide with the desires of miners. Therefore, it is difficult for them to agree, updates from the creators are not accepted by miners, moreover, they can even block them. And this state of affairs may prevent Bitcoin from developing further.
Financing the project. The number one blockchain development is driven by voluntary user contributions. However, stable operation of the platform is impossible without a reliable and constant source of funding. Thus, coin creators are completely dependent on coin holders and cannot promote development that is beneficial to the system. On the whole, this also leads to a slowdown in the development of military-technical cooperation.
Cryptocurrency mining principles. The problem is common to many systems. For the transactions carried out, regardless of the number, miners receive block rewards. But simple miners do not have access to the procedure for creating blocks due to the fact that everything is run by large mining companies. And if any of them gains more than 51% of the hash rate, they will be able to dictate their terms to everyone.
Therefore, the Decred crypto, thanks to its special technical characteristics, has every chance of surpassing Bitcoin. It is an open multi-platform currency with a community-based blockchain governance system. The following are recognized as features of the digital currency:

decentralized governance, community participation in resolving issues;
an internal voting system for completing tasks, providing functions with bit flags;
a consensus system between miners and other community members;
to ensure the benefits, the Schnorr system is used - electronic signatures.
The deCRED ecosystem is developed on the basis of the Bitcoin blockchain, is compatible with the Bitcoin platform, so it can be considered an improved version of its predecessor.

Decred features

The multi-platform digital currency supports Windows, iOS and Linux. You can get coins easily - in a few clicks. In the settings, set exactly the method of receipt that the user needs. To buy or receive electronic money, you should take advantage of the following offers:

exchange on exchanges that have listed the currency (Poloniex, Fex, Bleutrade);
instant exchange is possible on some platforms without registration (Godex, Evercoin), but there is a high level of commission;
direct exchange of a token for fiat money, for example LiteBit (euro), Coinspot (Australian dollar);
payment services (Globee, Wirex) integrated into many trading platforms and working online;
mining (PoW and PoS);
receiving as payment for goods or services.
How are Decred transactions carried out? To receive or send DCR, you need to apply the following algorithm:

use a wallet for mining;
take part in the transaction using special computing, analytical network tools (PoW);
use special tools for controlling the transaction and for voting (PoS).

Thus, a balance is established between the method of mining coins and the consent of the voters of the project. The convenience of transactions attracts users. For mining, you do not need to purchase additional equipment, it is not necessary to combine into pools. Operations are available in solo mode using video cards.

Despite the fact that the reward for each mined block is decreasing, mining remains popular due to the youth of the project. A significant advantage in conducting transactions is the signature system using the schnorr program. And important functions are the ability of the user to cancel the operation in the event of a transaction error or its cancellation, if the confirmation of actions does not occur for a long time.

How Decred was created

The history of the creation of the Decred cryptocurrency began 4 years before the official release, when a group of Bitcoin programmers worked on a special btcsuite extension for the blockchain. The idea was based on the idea that several launched extensions, complementing each other, will protect Bitcoin. Development was not supported by community users. And this led to a new project.

A team of 6 people, the creators of the deCRED cryptocurrency, announced this in February 2016. In the spring of the next, the first version came out. The launch didnt go as smoothly as planned, and users found flaws. The designers had to quickly fix them. At the same time, some investors refused to use this crypt.

During the period 2017-2018, the currency was not stable. In the fall of 2017, the rise began, at the beginning of 2018 a certain maximum was reached, after which the decline began again. But developers, supporters, and coin holders are hoping for the Decred cryptocurrency to rise. Currently, the team is monitoring their brainchild, fixing errors discovered by users, improving the technical component of the project. Interaction has improved the speed of transactions and enhanced privacy.

Is Decred Endless?

The popular crypto coin was created for the reasons mentioned above, in general, to improve the shortcomings known to another coin - Bitcoin. Today it is actively used for buying, selling, mining. The demand for digital money is growing regularly. Many systems have emerged with which coins can be realized. You can buy a crypt in any way:

Through exchanges. It is very easy to buy and sell currencies at a bargain price today. You just need to link the wallet to your account and search for a seller or buyer. By investing in crypto and selling it in a timely manner, you can get a good income.
Through specialized services - exchangers. They are engaged in the transfer of ordinary money to cryptocurrency. These resources are recognized as one of the most popular ways to purchase electronic money. It should be borne in mind that coin rates in different exchange systems may differ. Therefore, it is advisable first to create a wallet on the official website. Then, using the system, search for a site to buy.
The platform uses a specific mining algorithm (BLAKE256). To do this, you can use two ways:

by the common efforts of many users - participation in pools, today there are six large pools that are engaged in production;
independently - mining blocks of transactions and making a profit, but you will have to spend money on a powerful PC, video card and processor.
The project is based on three principles by which the currency works: a limited number of coins in circulation, a decentralized blockchain management system, and the solution of all issues through the community.

Decreds strengths

The first appearance on the market of cryptocurrencies did not cause a stir among users. Coin prices were low. In 2016, the price of digital money did not exceed $ 0.6. The first signs of investor activity were observed in early 2017, when the value of DCR reached $ 3. The growth of coin quotes throughout the year made it popular among investors. One coin offered 46 American dollars. At the end of the year, the cost rose to $ 61.

The capitalization level reached 178 million, the value of the coin was $ 16. What exactly attracts depositors to this currency? Of course, its positive aspects:

mining system, it is available to the average user without buying special equipment;
Politeia system for platform management;
new functionality (while being tested) - principles for accepting proposals, changes are made to the system that are of interest to participants in the crypto network;
double protection of the blockchain: hacking requires control over mining and voting at the same time, which is not beneficial for attackers;
the principles of remuneration of developers were approved by users: the creators of the project did not collect money for a product that had not yet been launched;
confidentiality of transfers due to Schnorr software;
limitation of the terms of operations with the rejection of the transaction over time;
compatibility with the VTS platform;
choice of storage and wallets for currency.
There are also negative aspects in the new crypt, which may somewhat weaken its popularity:

not all community members take the coin seriously, considering it another fork;
the growth dynamics of the currency is lower than that of Bitcoin, and this scares off potential customers;
high level of competition: 36th position in the TOP-100.
The developers are confident that the emergence of Decred is an important event in the cryptocurrency world. Today the e-currency has been added to the famous Bittrex trading platforms, Poloniex. The trading volume per day exceeds 8 million.

Decred in TOP currencies

The dynamic development of DCR financial indicators testifies to the ability of the currency to take its rightful place in the cryptocurrency market, to bring income to asset holders. Despite some skepticism of analysts regarding this currency, the development forecasts are quite positive. The platform is still being developed, changes are constantly being made, the team is still working with part of the functionality, some elements of the system are in test mode.

But there are clear advantages of this coin over its competitors. The Decred system can be easily integrated with other services, which makes it easier for users. The currency has a chance to get into the TOP-10 and bypass the main competitors today (Bitcoin and Ethereum).

Operations with Decred are carried out on several exchanges. The most significant volume of transactions takes place on the Bittrex platform (60% of global transactions with DCR). Poloniex was recognized as the second in terms of trading level (40% of trading operations for 500 thousand daily). Trading on these exchanges is related to Bitcoin. On other platforms (Cryptopia, Bleautrade, YoBit), you can conduct transactions in pairs with other currencies (Lisk, Dodgecoin).

So, to carry out regular transactions, you should choose the appropriate exchange. If there is no need for constant mining, then you can use the services of exchangers, where you can always conduct a transaction taking into account the favorable rate and commission. There are different wallet options for storing coins, including those from developers.

Users are attracted by the following features of a virtual coin: ease of mining, ease of use, confidentiality, decentralization. There are some risks, but overall Decred looks like a promising project.