Decred tries to protect the balance between miners and holders. To accomplish this they have a hybrid consensus mechanism. To ensure a secure system, each transaction must be confirmed by miners (Proof-of-Work). This confirmation must then be validated by holders of Decred coins (Proof-of-Stake). Users who stake their DCR can also vote for developments of the Credred blockchain.
Blockchains which get validated by the Proof-of-Work method are at risk of a 51% attack. That occurs when a single person or group of people gains control of over 50% of a blockchain's power of validating transactions. To prevent this, all transactions in the Decred blockchain must be verified by the holders of the Decred coin (Proof-of-Stake). This is a reasonable method to prevent miners from becoming too powerful. Nevertheless, it should be questioned whether this complex construct is really necessary or whether a blockchain with only a Proof-of-Stake method does not also fulfill this purpose.
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Decred special?
Decred is aon its own,uses to validate transactions,and is.Decred does not support.
Interesting facts about Decred
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Its hybrid consensus mechanism combines Proof-of-Work and Proof-of-Stake to balance the power between miners and users.
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Politeia is the governance platform for decisions on the Decred network. All users can propose changes and vote for changes.
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Decred implemented the Lightning network to enable the blockchain to scale.
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Market insights
Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
Project health
# Discord members -
# Telegram members 2,806 3% of them are active
% of total supply circulating Very small
What’s the community like?
Community matters for projects like Decred, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.