Decred (DCR)
Rank #117
Market snapshot
- Price
- $13.90
- Market cap
- $244.2M
- 24h volume
- $1.4M
- Circulating supply
- 17,572,508.9245
- Total supply
- 17,572,508.9245
- Max supply
- 21,000,000
What is Decred?
Decred is a cryptocurrency designed to upgrade and evolve over time based on the input of its coinholders. This allows users to trade peer-to-peer with no trading fees or KYC requirements. Decred emphasizes a strong focus on community governance and sustainable funding for development.
How Decred works
Decred operates on a hybrid consensus model that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems. Users can generate DCR through mining, and the governance structure allows stakeholders to set consensus rules and determine project funding. The treasury is self-funded, receiving 10% of the block reward, and the hybrid model enhances resistance to 51% attacks compared to pure PoW or PoS systems.
Key information
- Symbol
- DCR
- CMC rank
- #117
- Network / platforms
- N/A
- Categories
- Mineable, Store of value
- Date added
- Feb 10, 2016
Key characteristics
Decred is open-source and emphasizes community governance. It integrates a hybrid mining system to prevent a small group from dominating the network. The blockchain is similar to Bitcoin’s but includes governance features directly in the protocol. Additionally, DEX development is funded by the Decred DAO and is open-source.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Decred?
- Decred is a cryptocurrency that focuses on community input and governance, allowing for upgrades and evolution over time based on feedback from its coinholders.
- How does Decred work?
- Decred operates on a hybrid consensus model combining Proof-of-Work and Proof-of-Stake systems, allowing users to generate DCR through mining and enabling stakeholders to set consensus rules.
- What are the key technical features of Decred?
- Decred is open-source, features a hybrid mining system, and incorporates governance directly into its blockchain protocol.
- What are the risks associated with transferring Decred?
- Users should be aware of volatility, verify addresses and networks before transfers, and understand the custody methods they choose.
- How can I acquire Decred safely?
- Verify the asset name and network, check the destination address before sending assets, and review your custody method.
- Where can I find official resources for Decred?
- Official resources for Decred can be found on their website at https://decred.org/ and their documentation at https://docs.decred.org/.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
