How & Where to Buy Decred (DCR)
Step 1: Buy BTC or ETH at Coinbase
Sign up and purchase bitcoin (BTC) or Ethereum (ETH) at Coinbase.
If Coinbase is not available in your jurisdiction, view our list of exchanges that sell BTC or ETH for Government issued money.
Use Decred: Ways to send & spend DCR
Decred Price & Information
Current DCR price and historical price chart
What is Decred
Decred (sym. DCR) is a cryptocurrency and an ecosystem which allows and facilitates decentralised voting platforms and DAOs, utilising new codes written from the scratch. Decred stands for DEcentralised CREDit.
History of Decred
The development Decred started in April 2014 and it was formally launched in February 2016. Decred development was funded by Company 0 and some of the costs were borne by the developers. A total supply of 21 million coins will exist in the ecosystem. 840 thousand DCR is pre-mined while the same amount is kept for Airdrop mode. 95% of the Decred coins are meant to be mined by 2034. Decred foundation keeps 10% of the block reward.
How Decred Works
Decentralised governance, the core principle of a DAO, is the major selling point of Decred. Decred wants to bring in a balance between PoW miners and PoS stakeholders (the original user of the network) as in PoW method the big miners can always ignore the points raised by the smaller miners.
In Decred, PoS stakeholders can put a certain amount of coins in lock for 28 days to get voting rights. Once voted, the locked coin is unlocked and the participants also get paid to vote, which is an incentive to participate in the community and network. PoS stakeholders can upturn the decisions made by the PoW miners if they reach a 60% majority. Thus, the actual DCR coin users are in control of the network, unlike Bitcoin.
The PoW miners need to mine, at least, 3 votes per block to receive a greater reward. Thus, while miners are still the authority, they are much like an elected government which is actually controlled by the people to control the people.
Decred is one of the most unique coins out there right now and they have some great advantages.
- Bitcoin Competitor: They have created a new coin, with a completely new idea and using a completely new code. It all resembles Bitcoin in its early days when it proved to be a paradigm shift, not just another cryptocurrency.
- Democratic Governance: Decred implements a hybrid technique, PoS+PoW to maintain the perfect balance which Bitcoin lacks. As explained above, the smaller miners and the actual users of the currency can have a say in the ecosystem.
- DAO Facilitator: As Decred runs of a PoS+PoW environment and democratic governance is one of the key features, it should ideally be the future of DAO (Decentralised Autonomous Organisations).
- Planned Future Features: Decred plans to implement lots of cutting-edge features like Hard fork voting, Lightning network support, payment integration and enhanced privacy.
- Early Bird Benefit: Decred is still evolving and the early adopters will benefit hugely, like the early adopters of Bitcoins. It can be treated as a savings account with a very high rate of interest.