What is Decred?
We all know that Bitcoin was the granddaddy of cryptocurrencies and remains so, but there have been several spinoffs from Bitcoin utilizing different forks that appear. Decred is one of those forks that have been exploited and turned into a new cryptocurrency itself. There are several ways that Decred is different from Bitcoin, including their concept and the consensus of transactions. While Bitcoin was meant as a digital currency, Decred offers both a digital currency as well decentralized governance. Consensus is the way that transactions are validated as well as how mining is done and validated. Bitcoin offers a Proof of Work scenario, whereas Decred offers both PoW as well as Proof of Stake (PoS) for consensus.
With Bitcoin, there is a small number of miners that can afford the necessary equipment in order to mine new coins and do Proof of Work consensus. Because of this, there is a limited set of entities that can vote on changes with Bitcoin, and they are the only ones that receive any benefits of mining new coins. With Decred, they have changed things up from what Bitcoin is. While there are still miners for Decred tokens, they do not get the full load of benefits like those on Bitcoin do. Instead, Proof of Stake by token holders allows non-miners a say in the system for consensus, as well as voting on the direction that Decred takes. This is a more democratized system.
However, while this is a positive aspect of Decred, they are by no means the only one doing so. A main criticism of Decred is wondering what it brings to the table that is unique or new. Many will say that Decred doesn't do anything different from other cryptocurrencies, and because of that it will never attain the reach that other cryptocurrencies will because of what they offer.
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What are Decred Frequenty Asked Questions?
Where does Decred (DCR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Decred currently ranks in position 50 out of the thousands of cryptocurrencies. It is also important to consider Decred‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Decred has a market cap of $ 1,769,587,318, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 874,675,753,917, Litecoin at $ 11,590,899,650, Ethereum at $ 171,712,099,401, Tether at $ 36,309,551,516, and XRP at $ 21,210,821,502.
What is the price of Decred (DCR) today (updated in realtime)?
The current price of Decred is $ 139.66 in USD. (The price in Euros is 115,56 €; and the price in Bitcoin is Ƀ 0.00297200 BTC.)
What is Decred‘s (DCR) market supply?
The total available supply of Decred is 12,670,719 DCR. The total supply of Decred is 21,000,000 DCR.
What is the 24 hour volume for Decred (DCR)?
The 24 hour volume for Decred is $ 26,481,254.
How has Decred (DCR) performed recently?
Decred‘s price has decreased in the last 24 hours by -6.71%. This compares with a seven day change of -1.70%. The trading volume over the last 24 hours was $ 26,481,254. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Decred (DCR) official website?
Links to Decred‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Decred (DCR) performed well historically?
Here is a chart showing how Decred has performed historically.
Where Can I Buy Decred (DCR)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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