DCR Specifications

Type

COIN

Algorithm

Blake 256

Protocol

POW/POS

Start Date

09/02/2016

Max Supply

21,000,000

Circ. Supply

16,456,909

Website

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Intro

Decred (DCR) is a cryptocurrency created to facilitate open governance, community interaction, and sustainable funding policies. The project was introduced to an open-source development corporation led by Jake Yocom-Piatt called Company 0 (C0), who helped launch its mainnet in February 2016. His vision was focused on a community-driven cryptocurrency that provides an alternative to money that is not only decentralized but fair and sovereign.

Decred's core implements a hybridized proof-of-work proof-of-stake (PoW/PoS) consensus system. Its goal is to strike a balance between PoW miners and PoS voters to create a strong construction of consensus with the PoW miners verifying transactions and the PoS stakers proposing and voting on network upgrades. Stakers who are randomly chosen possess ‘tickets’, a non-transferable asset specifically made for the Decred network in order to participate in votes regarding validating blocks and governance.

In addition, Decred has implemented a governance system that aims to create an open environment for new ideas and a voting system for their acceptance and implementation. In this case, users wishing to offer potential upgrades or policy changes can use the Politeia proposal web platform that facilitates the submission, tracking, and discussions for suggested changes to Decred governance.

DCR is the native coin of the Decred ecosystem. Similar to Bitcoin, there is a maximum supply cap of 21 million DCR coins. Decred's block-time is 5 minutes.

Features

Hybrid Consensus
Decred employs a hybrid PoW/PoS consensus mechanism, which combines features of the two consensus models, with the PoW miners verifying transactions and the PoS stakers proposing and voting on network upgrades. To align incentives, block rewards are allocated between Proof-of-Work (PoW) miners, stakeholders, and the Decred Treasury.
Hyper-Secure
The Proof-of-Work (PoW) -Proof-of-Stake (PoS) hybrid consent mechanism used by Decred makes any possible attack significantly difficult.
BLAKE-256 Hash Function
Decred uses BLAKE-256 as its hash function. BLAKE-256 is based around a HAIFA construction that incorporates a variation of ChaCha, a stream cipher that has been designed for high performance in software implementations.
Block Rewards
The block reward decreases by 1% every 6,144 blocks that are approximately 21 days.
Politeia Self-Governance System
Politeia is a governance model built around the concept of transparency. It allows proposals to be considered and put into action quickly, and fairly. Anyone may submit a proposal on Politeia, the only requirement is paying a minimal fee which is designed to prevent spam. Ticket holders are then able to vote on whether they are for or against the proposal.
Transparent Censorship
When proposals are submitted, they are checked by Politeia administrators. Proposals that are deemed spam or invalid will be censored.

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*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.