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Why Decred (DCR) is the new Bitcoin

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Of the many similarities Decred (Decentralized Credit) shares with Bitcoin, its steady bullish recent price growth very similar to BTC’s last year is what probably first draws more attention. Take a look at this graph:


Source: https://coinmarketcap.com/

Since its inception, Decred has grown around 11600%, rising to #30 in market cap. Since the beginning of 2018, many big altcoins had huge losses in growth, including Ripple, which lost 34% of their average market cap, and Nano, which lost 64.17%, while Decred grew 23,02%

Also, this is the Rate of Change in relation to Bitcoin for Ripple:

Source: https://coinigy.com/

And this is Decred’s:

Source: https://coinigy.com/

Decred is, financially, in a really good position right now. And when saying that Decred is the new Bitcoin, it’s not as a “silver standard” like Litecoin. Decred is coming to be the Bitcoin 2.0 we need.

Besides having a relatively similar history and being developed by the team which developed the btcsuite, we could also say that DCR is a coin which serves for the same purpose like Satoshi’s does, and shares most of its good qualities, but added with some tweaks a lot of people thought were essential. Decred’s core fundamentals were actually based on an opinion piece published in 2015 outlining Bitcoin’s biggest challenges: governance, funding and powerful miners having too much influence on the blockchain. All of these three problems are solved with Decred’s clever hybrid consensus system.

That said, autonomy can be said to be the core of their mission. There is no central authority for decision making, as stakeholders are the ones who set the rules through voting, in a process which is intricated to their hybrid mining-validation system which is, yes, another main feature of Decred. We’ve seen voting before – some platforms like BitShares and Ark have a dPoS system, but the case is totally different in Decred.

Decred Tickets

Hybrid PoW/PoS system

Decred blockchain both employ miners create blocks and validators to validate them, creating a hybrid PoS/PoW ledger, though the validator staking system doesn’t work quite, in the same manner, it does in any usual PoS blockchain, like Cardano.

Blocks are mined as usual. Then, stakeholders lock some DCR to buy a “ticket” to put on some block created. 5 tickets are randomly chosen to validate each new block mined and if 3 of them are staked for the block, then it’s added to the chain. Tickets are selected to vote with an average time of 28 days. When mined and validated, 30 coins are rewarded, 60% going to miners, 30% to validators (voters) and 10% to Decred development subsidy.

Voting

Tickets can also be used to vote for or against proposed changes on the Blockchain. Votes are direct and not on delegates like on dPoS systems. They happen naturally. When a change is proposed, 95% of the 1000 new blocks created must have the latest block version (consistent with the upgrade) and 75% of the of the votes cast within a 2016 block interval must have the latest vote version. Then there’s the actual voting. After a Rule Change Interval (RCI – when 8064 blocks are created), stakeholders cast a “yes”, “no” vote or abstain. Then, the rules are: if there’s more than 90% abstentions or less than 75% majority of “yes” or “no” non-abstaining votes, the agenda will remain active for the next RCI; if 75% of the votes are positive, the change will be implemented in an RCI period; If 75% are negative, the agenda will never activate, the same happens if it the voting reaches its expiration date without a 75% “yes” or “no” majority.

A hard fork happens when a new consensus change is decided. Decred’s code is built to be prepared for several changes and additions. Implementing features necessary for the Lightning Network is an example of a voting which occurred in Decred’s voting dashboard.

Features of a hybrid Blockchain

This new mining-validation system allows profiting both from mining and staking. While still heavily ASIC-relying, sometimes staking pools or even running solo nodes will be more profitable than mining, leaving both people which can contribute with hashing capability for mining new coins and stakeholders with something to gain.

It’s evident how it solves those three fundamental problems mentioned before: in Decred, miners’ power over decisions is limited both because they share the block rewards with validators and because any changes have to be literally voted by the stakeholders. Leaving some of the block’s subsidy to Decred’s development also solves the funding problem. It’s no wonder why it’s growing so nimbly.

With all essential features which make Bitcoin the #1 coin and a similar recent history and dev team, but with a brilliant system which puts PoS in PoW, Decred is the best of both worlds. Or maybe, if time will tell, it’s the best in the world.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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