Decred (DCR) Wallet

What is Decred?

Decred is a community-directed digital currency with built-in governance to make it a superior long-term store of value. Its hybrid PoW/PoS consensus system provides an additional layer of network security, while stakeholders control the budget and policies to help keep the currency adaptable.

How does it work?

Decred uses a hybrid PoW/PoS consensus system that enables a transparent, censorship-resistant voting system. Every Decred community member with "skin in the game" (stakeholders, developers, and miners) can vote on the direction of the project. Stakeholders collectively determine the policy, development plan, budget, and consensus rule changes. Stakeholders also approve the miners’ work, aligning miners’ and holders’ interests and deterring malicious mining activity. With ten percent of each block reward going to the project treasury, Decred is completely self-funded. This financial model reduces conflicts of interest and enables ongoing development powered by a unique contractor model that allows contributors to receive payment for work they find interesting. Together, these systems provide solid protection against value-loss events like chain splits and hard forks. This gives Decred the resilience to stand the test of time. As it moves towards becoming a fully Decentralized Autonomous Organization (DAO), Decred is intentionally designed to fund all the parties involved in its governance.

What does it aim to solve?

Decred aims to solve issues around security, governance and the sustainability of development funding.

What are its features?

• Secure: Decred's unique hybrid PoW/PoS consensus mechanism is more than 20x more expensive to attack than PoW alone because it provides layered security. By effectively aligning incentives between miners and stakeholders, it provides checks and balances to ensure long-term stability.
• Adaptable: Decred's built-in governance systems facilitates a new way of making consensus changes and project-level decisions that avoids community-splitting forks.
• Sustainable: Decred's block reward system allows the treasury to sustain itself over time: no outside funding is necessary. This ensures funds are used to match the project needs in order to realize the community's collective decisions. It also gives contributors the freedom to do the work that interests them most (and get paid).