Lykke Exchange lists Decred cryptocurrency.
As of February 12, Decred (DCR) will be available on Lykke Exchange in pairs with BTC and USD. Decred is a popular project among the developer community and it is a long-awaited listing by our community.
The project was inspired by Bitcoin; it originated as an improved version of the Bitcoin blockchain and Decred’s developer team members come from other prominent cryptocurrency projects, Bitcoin itself included. It is the strong and talented developer team present at Decred that makes the project attractive, capturing the attention of investors and tech-savvy communities. In fact, the Lykke Exchange Decred integration was proposed and completed by the Decred team itself.
As already mentioned, Decred blockchain is an improved version of Bitcoin in that it concerns the consensus protocol, governance principle and scalability. As stated on the project’s website, “Decred is built to last”. Its development focuses on a wide range of possible applications for the future such as a decentralized exchange for all assets. By implementing Lighting Network and cross-chain atomic swaps, such a DEX would enable exchange of literally any kind of assets.
What probably makes Decred really stand out is its approach to the governance issue. Governance and decision-making within a blockchain project are notoriously complicated due to the human nature. Lack of consensus within the project’s stakeholder pool results in hard forks that allow value to leak out of the project. Decred addresses this issue with two solutions: by having no ICOs, by using only internal financing, and by introducing Decred’s innovative consensus voting model.
Its main characteristic is that the voting process is held on-chain. The stakeholders who take part in decision-making are rewarded for their effort. The voting process is user-initiated and virtually any Decred community member can propose changes or cast their vote to decide the destiny of those proposed. This model is scalable and together with Politeia, it can offer communities and organizations a censorship-resistant and fully-functional voting and governance solution.
Politeia is worth a separate introduction. It is a public proposal system powered by blockchain. Politeia is designed as a platform for self-funding of projects on which anyone can submit a proposal and it may be judged worth funding or not.
Decred is a project that combines a range of solutions to the problems that other blockchains — mainly Bitcoin — have faced throughout their development. Considering that the Decred development team has been delivering new features on a quite timely basis, the project has the potential to develop into a solid and fully-fledged multi-functional blockchain platform in the long run.
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