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Decred

Decred (/ˈdi:ˈkred/, /dɪˈkred/, dee-cred) is an open-source, community-based , similar to [1].

Overview


Decred was launched in February 2016[2] by the bitcoin developers that engineered btcsuite[3], 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[4].

Blockchain Architecture


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[5].

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

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 microarchitecture[10].

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.

History


On February 7, 2016, the Decred mainnet binaries were released under v0.0.1[13].

Decred v1.0.0 was released on April 25, 2017[12].

Decred developers executed an atomic swap between Decred (DCR) and Litecoin (LTC) in September 2017[14][15].

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Decred

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August 18, 2022

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New Wiki Created 🎉

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