Welcome to The Decred Drive. Every Thursday this brief newsletter highlights top-notch Decred content from the previous week.
Good afternoon. Hopefully everyone is well and safe. Much to cover this week. Let’s review what’s happened this week in the world of Decred:
- Metal Pay recently added Decred. The Metal Pay team accurately describes Decred as Hypersecure and Community-Driven. The design of DCR is one that is resistant to attacks, centralized manipulation, and inflationary economics. → These guys get it. Those who understand early will learn that assets like Decred and Bitcoin stand a very real chance to overtake traditional fiat currencies as next-generation, secure robust currencies. Only a matter of time. While some cryptocurrencies may struggle to overcome centralized resistance to changes, $DCR was built to keep power decentralized.
- Interesting post from Checkmate on cost of double spend attacks. Check out the Majority Attack Cost Calculator. If an attacker has in their control 20,573 tickets and 276 Ph/s (HashRate) they will be able to generate blocks at the same average speed as the honest network. Love this slider on the dcrdata website — for so many more reasons, it is unrealistic for one to majority attack the Decred blockchain.
- JYP: The economic pain of various quarantine policies will continue to damage business models that depend on large amounts of leverage and credit, so cryptocurrencies like Decred that are self-funded will continue to operate smoothly. Couldn’t agree more. Decred and Bitcoin is growing increasingly relevant in this time of economic uncertainty and credit crunch. Check out more from Jake here in his interview with 8btc.
- New issue of Politeia Digest is out, publish on Block Commons. Great resource for catching up on all things Politeia. You can find all of the Politeia Digests as well as other great resources by following Block Commons on Twitter.
- Staying on the topic of Politeia, big thanks to DCR Comic for their hard work and recent proposals. So much great work done — remember that if a proposal doesn’t work out this time, there is always an opportunity to resubmit with another, improved proposal.
- We recently got an update from Decred’s own Marco Peereboom regarding the Decentralized Treasury Spending proposal. Follow here. In the words of Marco, I put up a WIP PR so you can follow along my twisted brain as I jump all over the place. This is new tech — novel stuff that hasn’t been built before. I’m looking forward to following the progress, especially on this.
- An important visual comes regarding Decred’s supply schedule comes to us from Dustin LeFebvre. Decred is hard capped at 21M coins, same as Bitcoin. However, the rate of issuance constantly decreases, strengthening security and making capital investment decisions easier for miners. Decred’s halving is always priced in. This point can not be underemphasized. Increasing the ease at which miners can manage their financials and overhead makes their businesses more sustainable.
8. Great thread from Black Bear XVII. Whereas decentralized protocols and the economies that can be created and sustained on them still exist as outliers in today’s current time, their importance over the course of the next decade will prove substantial. We can not time and time again go through these periods of economic paralysis and mayhem… we need to build upon more robust, open-source financial infrastructure — that of Decred and Bitcoin.
9. Powerful statement from Checkmate this week regarding the fact that there are no decentralized stable coin systems. That is a fact. Stability must be generated organically over long periods of adoption. One cannot back “stable coins” with that which is becoming increasing unstable… the US dollar. That defeats the entire purpose... we just recently saw MakerDAO panic into making USDC a collateral type for DAI issuance… huh? Doesn’t that defeat the purpose? No stable coin is decentralized. Only Bitcoin and Decred, imho.
Have a great weekend folks — and stay safe.
@DecredDragon on Twitter