Decred is a cryptocurrency project and platform built with the sole purpose of granting its participants the power to guide the ecosystem. This democratic design eliminates the possibility of interference from separate entities or governments.
CONTROL IN THE HANDS OF THE COMMUNITY
The much-anticipated recent release of Decred v1.0 marks the beginning of direct community consensus voting. Decred will be the first cryptocurrency to reappropriate its governing control away from a centralized authority to the community of stakeholders. Usually, the control lies in the hands of miners and developers, but with Decred, it is distributed among the community members to ensure that everyone’s views and votes play a role in shaping the ecosystem.
Decred utilizes a hybrid proof-of-work and proof-of-stake consensus system. It allows the platform to strike a balance between the benefits to both miners and stakeholders, offering a much more complete form of consensus.