The only decentralized self-ruling cryptocurrency is proud to announce the successful listing of its transactions and digital currency on one of the market’s principal exchange named KuCoin. Decred is now listed on this platform. DCR is officially part of the potential tokens listed on KuCoin exchange.
Deposit is now available with trading pairs such as DCR/BTC and DCR/ETH. Buying starts at 19:00 UTC+8 and selling/withdrawal at 20:30 UTC+8.
Trading activities can be done using either KuCoin site or mobile apps.
What is Decred?
It is an autonomous digital currency that makes it different from other cryptocurrencies. It has built-in governance system. It was intended to be just a form of currency and not design to be a platform or a utility token. It is like Dash, Bitcoin, Litecoin, etc. A stakeholder has the power to vote for future software.
Also, it is a cryptocurrency designed in 2016. It is aimed to address blockchain governance. It authorizes stakeholder to vote for the future of its software. Its real concept is to democratize the process of voting for new feature adaptions. Avoiding forks and innovation obstruction are its main objective.
It has several projects guiding principles to build an internal sustainable framework. There is also increasing security and privacy on the whole platform. The technology used for privacy and security must be executed continuously and progressively. The two should take actions immediately to control situations rather than just responding to it after it has happened. Both must be responsive to any types of malicious attacks.
In Decred, anyone has the power to share their ideas or opinions with no worry of getting censored. Constructive speeches according to facts and good reasoning will receive considerations.
The DCR Cryptocurrency
Decred has a digital currency symbolized as DCR. As of today, it has nearly (USD) $300 million market capitalization and has a total supply of twenty-one million DCR. Eight million DCR is currently circulating in the market.
How do Decred works?
The governance system is divided into 2 two parts. These are project and blockchain governance. Blockchain governance will verify block and transaction. It will also check the votes on the coding edition. Its blockchain is verified through PoS stakeholders or contributors and PoW miners. A stakeholder can dominate miners if sixty percent or more stakeholders vote in contradiction to a specific block produced by miners. The hybridization of proof of stake and proof of work separates it from other currencies. On other cryptocurrencies, only miners can secure and verify transactions and so they have the absolute or more control on the network.
The 60% of the block is rewarded to miners with every new block. On the other hand, stakeholders receive the 30%, and the development team receives the 10% of the block. It is quite a unique approach so that the developmental team will remain funded. It will encourage organizations to support all developments continuously. It contradicts other cryptocurrencies’ ways of funding their team using ICO. Some use a front-heavy format that usually resulted in irresponsible spending of funds.
Images courtesy of KuCoin