About Decred (DCR)weiss-badge

Overview

Decred (DCR) is a cryptocurrency created in 2016, focusing on the way the voting is done on cryptocurrency platforms. It aims to "solve blockchain governance," and their "innovative consensus voting model" intends to increase utility for shareholders and make transitions between rule sets seamless and practical. They are also decentralized, so (therefore) they're free of third-party influence. Decred features technology that allowed for the "world’s first successful direct on-chain user-activated consensus vote." It aims to assist communities in making decisions together, and to encourage individual contributions in group situations; in fact, shareholders that contribute to decision-making processes are rewarded for their efforts. Anyone can join the Decred platform, at any time. Decred wants to get everyone together, to create a more utopian, decentralized future.

Technology

Regarding technical features, Decred includes an "innovative hybrid proof-of-work (PoW) proof-of-stake (PoS) consensus voting system," a "censorship-resistant blockchain-anchored public proposal platform," and "Smart Contracts that work such as Lightning Network." The platform is open-source, inclusive of all free speech and also includes incremental security measures that will only be introduced/developed in response to attacks or necessary upgrades. The developers of Decred want it to be as easy as possible for people to start interacting with this coin. It has a website that gives all newcomers a tour through features. In addition to this, there are stakepools available for people with reduced internet access or flaky power sources, at least where PoS (Proof-of-Stake) is concerned with DCR.

Future Focus

Looking forward, Decred had many new features being built and introduced, including; A censorship-resistant blockchain anchored public proposal platform, cross-chain atomic swaps between digital currencies and cross-platform wallets for ease of use. For more information regarding Decred visit the official website or roadmap.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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