Wikipedia

Decred (/ˈdi:ˈkred/, /dɪˈkred/, dee-cred) is an open-source, community-based cryptocurrency, similar to Bitcoin.[2] Decred was launched in February 2016[3] by the bitcoin developers that engineered btcsuite,[4] an alternative full-node Bitcoin implementation written in the Go (golang) programming language and is used by development projects such as Ethereum, Factom, BitGo, OpenBazaar, and the Lightning Network.[5]

Decred

ISO 4217 Code DCR

[a] Denominations Subunit ​1⁄100000000 atom Demographics Date of introduction 1 February 2016; 23 months ago ( ) User(s) Worldwide Issuance Administration

Decentralized

[1]

1. ^ Unofficial.

Contents

Blockchain Architecture

Hybrid PoW/PoS Governance System

Decred is designed with a built-in governance system to resolve centralization and governance conflicts present within the Bitcoin system,[6] and address the 'tragedy of the commons' that can occur within decentralized cryptocurrencies.[7]

Decred's governance system is engineered with a hybridized Proof-of-Work (PoW), Proof-of-Stake (PoS) consensus protocol.[8][7] The design was inspired by the MEMCOIN2: A Hybrid Proof-of-Work, Proof-of-Stake Crypto-currency[9] technical paper published in 2013, and the Cryptocurrencies without Proof of Work[10] white paper published in 2014.

Proof-of-Activity

Hybridized Proof-of-Work and Proof-of-Stake systems are also referred to as Proof-of-Activity (PoA). PoA is a consensus protocol introduced by the Proof of Activity: Extending Bitcoin’s Proof of Work via Proof of Stake whitepaper,[11] co-authored by Litecoin founder Charlie Lee.

Hash Function

Decred uses BLAKE-256 as its hash function. BLAKE-256 is based around a HAIFA construction that incorporates a variation of the ChaCha stream cipher by Daniel J. Bernstein. The BLAKE-256 hashing function has high performance ratings on x86-64 micro architecture.[12]

Cross-chain Atomic Swaps

Decred developers created the first functioning cryptocurrency atomic swap between Decred (DCR) and Litecoin (LTC) on September 19, 2017.[13][14]

History

Development Milestones

On February 7, 2016 the Decred mainnet binaries were released under v0.0.1.[3]

Decred v1.0.0 was released on April 25, 2017.[15]

References

‏Source en.m.wikipedia.org