One of the biggest problems in the digital currency space is that of governance – the ability for users to extract maximum value and transparency from the currency of their choice. So far few digital currencies have shown signs of wanting to fix this problem but one cryptocurrency has. That digital currency is Decred (DCR) and it touts itself to be one of the few digital currencies that offer a credible solution to the problem of governance in the digital token space. Let’s explore the token in detail to see whether investors are properly appraised on its potential and upside.
DCR is a relatively young digital currency. It was started in 2016 with the express purpose and mission of solving blockchain governance. Developers have built into DCR, an innovative consensus voting model that gives more power to stakeholders. This empowerment, according to developers, ensures the seamless transition from sets of rules as they evolve in line with the platform. DCR is further strengthened by a system of decentralized decision-making, allowing for the smooth transition of the size and scope of the digital token. DCR is also self-funding, creating the ultimate transparency and the freedom from the heavy burden of external third-party influences.
DCR’s underlying infrastructure is modular. This allows for the scaling of the platform in line with the growth and scope of blockchain itself. An open-source architecture also gives DCR an advantage of distribution; in fact, it was this modular distributive quality that helped developers to create the world’s first direct on-chain user-activated consensus vote. This full-on digital democratic process is helping to set DCR apart from other digital currencies. But there is more to it than that.
DCR is very much community-powered. When most digital currencies are based on the model of direct mining of digital tokens, DCR takes the additional step of rewarding users who patriciate in its community. This compensatory model is equally attractive to both individuals and businesses and it is helping to drive interest in DCR as a viable digital currency.
But what of actual features? DCR answers this call emphatically. The platform offers the already covered innovative hybrid proof-of-work (PoW) proof-of-stake (PoS) consensus voting system. It also offers censorship-resistant blockchain-anchored public proposal platform. Users of other digital currency platform associated with smart contracts will find DCR well up to the task of allowing for those sorts of contracts. DCR also offers cross-chain atomic swaps between different digital currencies, providing the interoperability so badly needed in the digital currency space. There are also cross-platform wallets, allowing users to move their digital value freely between and among platforms.
Users interested in DCR have a very smooth path to take-up. Operating on Windows, MacOS and Linux, DCR allows users to mine, send and receive tokens in a safe, stable environment. For added benefit DCR also allows users who want to get underneath the workings of the platform to utilize its command-line tools to create fully customized user-environments.
From the trading perspective, DCR has a full, open and accessible profile. According to COinranking.com, DCR has traded pretty strong over $30 in the last 30 days. And aside from a drop to $37.99 on March 30, DCR has been consistent in its uptick. It reached a very high level on April 15, hitting $65.54. Since then DCR has hovered above $65, showing no signs over the last week or so of a slowdown. Over the last 24 hours the token has been rising and has so far hit a high of $76.07. This is pretty strong trading for a digital token that hasn’t achieved the mainstream popularity and one solid reason for investors and traders to be vigilant.