Decred (DCR) is a digital asset and open-source blockchain-based cryptocurrency project. It was launched in February 2016 as a fork of Bitcoin by a company called Company 0. Decred is designed to be a self-funding, self-governed cryptocurrency. It combines aspects of both proof-of-work (PoW) and proof-of-stake (PoS) consensus algorithms to provide a more secure, resilient, and censorship-resistant platform.
Decred was founded on the belief that blockchains should be governed by their users, not just the miners who secure the network. To this end, it has a built-in system of self-governance and stakeholder voting that allows stakeholders to have a say in the direction of the project. This ensures that the project remains decentralized and open to all stakeholders.
The Decred blockchain is secured by both proof-of-work miners and proof-of-stake validators. These two groups work together to create a secure network and maintain a balance of power. The proof-of-work miners create new blocks, while the proof-of-stake validators check them and ensure they are valid. Decred also has a built-in treasury system that allows stakeholders to vote on how to allocate funds for development and other projects.
Decred has developed a number of applications and services, such as the Lightning Network, which allows fast and cheap transactions, and Politeia, a governance platform. Decred also has a number of active communities and projects built around it, such as the Decred Assembly and Decred Community, which provide education and resources for people interested in the project.
Decred is an ambitious project that seeks to revolutionize the way blockchains are governed and secured. With its self-governing system, robust security, and active communities, Decred is well on its way to becoming a top-tier cryptocurrency.