The announcement in particular motivated the crypto community to regain its buying optimism. Jake Yocom-Piatt, project manager at Decred, tweeted a new proposal to consider several points about the organization surrounding its rival Bitcoin project. As a result, the DCR token rose by 156% in just a few hours.
Behind Decred, a blockchain with a hybrid system that mixes Proof of Work (PoW) and Proof of Stake (PoS) whose Proof of Work (PoW) works in the same way as Bitcoin. Goal : fix the flaws of the cryptocurrency queen and offer a better deal as a long-term store of value. Cryptocurrency experienced its golden age (like the rest of the market) in April 2021.
At the time, its price was $231, an increase of 1700% in just six months. It is celebrated today the first real cryptocurrency recovery in a year. On August 5 at 19:00, its price rose from $27.7 to over $70 (briefly), before finding support around $48 during the first part of the evening on crypto exchanges.
Jake Yocom-Piatt’s announcement doesn’t seem like much on the surface, but it seems restore trust in Decred’s stakeholders, while the project’s website and message had to be overhauled for two years. This must be done in the second half of August.
What is Decred?
Behind Decred’s motivation, stopping minors who are forced to form collectives in the hope of weighing themselves against the biggest players. A risk that affects Bitcoin and which, unfortunately, could centralize its operation – which goes against one of its founding principles.
Decred is far from the least complex and fastest blockchain, but it would have the advantage of being more resistant to the risks of cyber attacks. Its second pillar, in its work, is also to prevent excessive updates to its protocol from splitting into two separate entities, as Bitcoin experienced with Bitcoin Cash.
In order to compete with Bitcoin, Decred chose the same operation with the token mass limited to 21 million. Initially, when the project was launched in 2016, 8% of the total amount was pre-mined and shared with investors up to 50%. For starters, those same investors pledged not to sell their property for at least a year. Lack of ICOs led to an advantage for DCR: its funds are not majority owned by the founders.
The arrival of a new messaging service and a new site sends the message that the project is not abandoned and that its organization wants to improve. Unlike other blockchain projects, Decred follows the logic of where everyone can participate in its developmentboth by proposing new ideas for improvement and by appointing several collaborators on various tasks such as development, community management, design, marketing and strategy.
