So There Should Be Bitcoin: Review of Decred
A large number of projects have tried to challenge the cryptocurrency flagship, in attempts to shift the bitcoin from the honorable first place, but this has not yet been done to anyone for 10 years. There is no secret that the BTC has a number of shortcomings which its competitors are trying to solve. In the framework of this article, we will talk about another contender for the "cryptocurrency throne", which has a number of interesting features and contradictions. So, what is a Decred (DCR) coin? Content: (please, click the topic to scroll down to it)
- A bit of the coin’s history
- Basic information and advantages of the Decred project
- Disadvantages of the coin
- The combination of the PoS and PoW protocols, which in tandem are able to solve one of the biggest problems that Bitcoin is facing, it is decentralization. The fact is that every year the first coin increasingly depends on a narrow circle of the largest miners, the total capacity of which can soon exceed 50%.
- Ability to scale blocks.
- The low complexity of the network, which allows you to mine a coin without having a huge amount of processing power.
- The PoS protocol solves another very important problem, namely the hybrid system of consensus, which allows all participants to vote equally for certain innovations.
- Firstly, the coin has not quite a cohesive community, but a similar picture can be seen within almost any cryptocurrency;
- Secondly, a large number of skeptics are sure that Decred is a blank that was artificially inflated and in the near future nothing except memories will remain of it.