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Author Topic: [ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network  (Read 1201063 times)
EmilioMann
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May 30, 2017, 05:42:43 PM
Last edit: May 30, 2017, 05:53:57 PM by EmilioMann
 #8561

"Decred was built to scale without sacrificing cypherpunk values." - coin_artist

"Decred solves Bitcoin consensus/governance issues with on-chain voters controlling the chain." - gratefulcheddar



http://boxmining.com/decred-hard-forks/

MAY 30, 2017 BY B.C.

Decred and Hard Forks

The problem of hard and soft forks have been huge issues in both the Bitcoin (Bitcoin Unlimited, USAF, Segwit) and Litecoin communities. Decred has come up with their own solution to this and may be something that other coins look to going forward. In this article I’m going to explain what a hard fork is, how the voting process works, and why it is so important for the development of a coin.


Hard and Soft Forks

Let’s start off by explaining what forks are. In simple terms, these are updates to the main protocol of a certain currency. Hard forks describe an update that causes a permanent divergence in the block chain. Both block chains may continue to run but they will not be able to send funds to each other as they are using different rules and the coins are not compatible with each other.

Soft forks, on the other hand, are backward compatible updates that allow users to mine from both original nodes or updated nodes with the new rules. If by a certain time, a consensus is reached and a certain percent of the hash rate is mining from the updated nodes, then the new rules are implemented across the protocol and miners of the original nodes will basically be wasting their time.


Why Fork and Who Gets to Decide?

So the programming team decides perhaps they want to make a substantial upgrade to the network to enable a set of features. These features might be very important features such as lightning transactions which allow immediate transfer of currency. It’s important that the community keeps on developing these features because otherwise, your coin is going to be stuck in the mud.

While the development team can propose upgrades usually what happens is that the mining community decides whether to implement these or not. The mining community acts as the accountants of the system. They process transactions and they form new blocks in the block chain. Consequently, they have the power to decide how to build the next block.

One major problem with this is that the mining community decides what the future is and not the consumers – the people who actually use currency. One small set of people decide how upgrades should be processed and the other side that actually uses it, the majority of the users, get zero say in the matter.


Decred to the Rescue?

With Decred, they solve this problem by having the community vote on the blocks created by the mining community. If miners start implementing different upgrades the community can vote whether they want the upgrade to go on line or not. If the created block does not follow a certain protocol, they can vote it down and even refuse payouts to miners that don’t follow what the community wants.

So this, in essence, allows the community to actually keep an eye on what’s happening with the miners. We don’t have just one power that doesn’t represent the community. Rather, we end up with the user community sort of policing what’s happening with the mining community.

People who hold the coin should have the greatest say in how the future goes forward. Decred solves both hard forks and soft forks by allowing users to vote on the issues. Issues such as segwit and lightning transactions, which have caused many controversies in the Bitcoin and Litecoin communities. Decred is already trying to implement these changes this year and they may get these technological upgrades in advance of other coins.





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Maicol792
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May 30, 2017, 09:05:21 PM
 #8562

Photo of products .... the coin are in my hands and i can prepare spedition:




who was intereste this is a Limited Edition of only 50 set.

You can buy here: https://bitcointalk.org/index.php?topic=1893105.0

or contact me in PM.

Thanks to all.

Regards
Maicol792
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hi =D


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May 30, 2017, 11:33:13 PM
 #8563





Decred to looking Ethereum... Cheesy
Jack Liver
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May 31, 2017, 04:44:35 PM
 #8564

Huobi released its coin ranking list and underlying model. They'll list new coins according to the ranking in future!

If we take out the first 3 that are already on the exchange, Decred is on seventh place!

I'm sure we will rise on that ranking in the next months  Grin

Source: https://www.huobi.com/topic/index.php?a=eth_report
            https://twitter.com/cnLedger/status/869046697992650753


really interesting, for now decred isn't listed in any chinese exchange.
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First 100% Liquid Stablecoin Backed by Gold


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May 31, 2017, 05:10:56 PM
 #8565

But still this is only one more currency in new crypto - smart contracts - Dapps - supercomputers world.

Not trying to FUD. I am loving alts.

But is it enough today.

Jack Liver
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May 31, 2017, 05:32:11 PM
 #8566

but is the only one with an actual governace this is a non trivial perk, it's a pure governance driven currency.
EmilioMann
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June 01, 2017, 12:51:57 AM
Last edit: June 01, 2017, 01:32:18 AM by EmilioMann
 #8567

We have 2 new channels on slack: #smart_contracts and #privacy  Grin
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June 01, 2017, 11:29:00 AM
 #8568

Wow this is very nice project. I have put 80% of my BTC into this at 0.0095. I think we will go to 0.02, anyone else agree?
Praxis
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June 01, 2017, 11:31:52 AM
 #8569

I think we will go to 0.02, anyone else agree?

Absolutely. The future is bright for Decred - novel governance model that's being proven as we speak ( https://voting.decred.org/ ) ,  LN integration in the not too distant future , fantastic dev. team working with incredible speed, renewed marketing efforts, community involvment... 10 projects developed at the same time...  limited supply, 38% coins locked in voting / "staking" --- everything about this project screams "growth"  

The strangest thing is how many people are still looking at coins that are totally uninteresting from a technological point of view ... many of which are in top 20 in coinmarketcap... when will they learn to separate gold from dirt?  Cheesy Some day they will - I guess it's also a matter of many investors being new to crypto and they just don't really know what they're investing in, but information spreads, knowledge spreads.
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June 01, 2017, 11:34:45 AM
 #8570

Wow this is very nice project. I have put 80% of my BTC into this at 0.0095. I think we will go to 0.02, anyone else agree?
Yes, Decred is very underestimated.
It will be possible to go to 0.1BTC.

I'm a former moderator of Bitcointalk Japanere borad.
Decred is a true community governance cryptocurrency.
EmilioMann
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June 01, 2017, 11:56:32 AM
 #8571

I also believe in 0.1 btc at least, when the 2017 roadmap be almost complete.
Decred has only about 5 million coins in the market today, while eth has 100 million.
Maicol792
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June 01, 2017, 12:09:15 PM
 #8572

I also believe in 0.1 btc at least, when the 2017 roadmap be almost complete.
Decred has only about 5 million coins in the market today, while eth has 100 million.


I think Decred is future bitcoin ... Smiley
Anon11073
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June 01, 2017, 01:19:54 PM
 #8573

I also believe in 0.1 btc at least, when the 2017 roadmap be almost complete.
Decred has only about 5 million coins in the market today, while eth has 100 million.


I think Decred is future bitcoin ... Smiley
I’m on the same page.
I think Decred will be the best cryptocurrency over Bitcoin.

I'm a former moderator of Bitcointalk Japanere borad.
Decred is a true community governance cryptocurrency.
olcaytu2005
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June 02, 2017, 10:39:15 AM
 #8574

I'm very excited about the results of the hard fork voting. I've voted yes on countless tickets already. Anyone has any idea what the possible second voting would be for? I've read smart contracts somewhere and some anon features.
Anon11073
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June 02, 2017, 02:08:47 PM
 #8575

Decred shows a new price in terms of USD! Cheesy
https://coinmarketcap.com/currencies/decred/#charts

I'm a former moderator of Bitcointalk Japanere borad.
Decred is a true community governance cryptocurrency.
EmilioMann
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June 03, 2017, 03:16:30 AM
 #8576

Decred already on Shapeshift!

w0lf0.
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June 03, 2017, 02:35:23 PM
 #8577

Any good news?  Huh
Anon11073
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June 03, 2017, 02:47:10 PM
 #8578

Any good news?  Huh
Decred has been added to ShapeShift. That's all I know.

I'm a former moderator of Bitcointalk Japanere borad.
Decred is a true community governance cryptocurrency.
bitpotter
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June 03, 2017, 03:04:00 PM
 #8579

Any good news?  Huh
Decred has been added to ShapeShift. That's all I know.

Shapeshift? this is crazy! But at the same time making them even more powerful.
bspus
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June 03, 2017, 05:48:27 PM
 #8580

Decred already on Shapeshift!



I don't see it on this list

https://info.shapeshift.io/about

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