Coin of the day is Decred.
"Decred is Bitcoin as it should have been."
Decred (DCR) is a cryptocurrency project that prioritizes decentralized governance and decision making on the blockchain. It runs autonomously with improvements voted on and enacted directly by the miners and holders of the currency.
One of the challenges faced by Bitcoin is that its underlying proof of work (POW) consensus algorithm allows more controlling power to the miners who own and operate expensive mining equipment. As all the mining gets concentrated at a few such powerful operators and pools, it leaves other network participants at a big disadvantage to reap network benefits.
To address POW challenges, proof of stake (POS) emerged as an alternative consensus algorithm that allocates more mining and reward rights to participants who hold more stake regarding the number of coins held. While POS manages to circumvent the problems of POW like high electricity bills and costly hardware, it implicitly encourages virtual coin hoarding, which may limit the cryptocurrency use.
Decred team developed Proof of activity (POA) as an innovative hybrid of POW and POS and claims to offer the best of both. It ensures that both miners and users have the same amount of influence on the various activities of the network.
Decred also introduces a censorship-resistant blockchain-anchored public proposal platform, smart contracts, the possibility of cross-chain atomic swaps between various cryptocurrencies that enable network participants to carry trustless over-the-counter (OTC) trades without the involvement of any authority or a third party, and cross-platform wallets.
Technicals
DCRBTC was gradually growing from the beginning of 2018, recently the coin crossed the 100-days EMA, which brought it from the deep correction zone to a more middle position relative to the past peak. There were two relatively big spikes, one on April 25 and second on May 4, public opinion converges this spikes to huge buy-ins as the price continues to grow after. Psychological level 0.01 and Bullish Trend line should support the upward movement, breakthrough of the 0.012 level will open the way to the resistance on the 0.015 height.
"Decred is Bitcoin as it should have been."
Decred (DCR) is a cryptocurrency project that prioritizes decentralized governance and decision making on the blockchain. It runs autonomously with improvements voted on and enacted directly by the miners and holders of the currency.
One of the challenges faced by Bitcoin is that its underlying proof of work (POW) consensus algorithm allows more controlling power to the miners who own and operate expensive mining equipment. As all the mining gets concentrated at a few such powerful operators and pools, it leaves other network participants at a big disadvantage to reap network benefits.
To address POW challenges, proof of stake (POS) emerged as an alternative consensus algorithm that allocates more mining and reward rights to participants who hold more stake regarding the number of coins held. While POS manages to circumvent the problems of POW like high electricity bills and costly hardware, it implicitly encourages virtual coin hoarding, which may limit the cryptocurrency use.
Decred team developed Proof of activity (POA) as an innovative hybrid of POW and POS and claims to offer the best of both. It ensures that both miners and users have the same amount of influence on the various activities of the network.
Decred also introduces a censorship-resistant blockchain-anchored public proposal platform, smart contracts, the possibility of cross-chain atomic swaps between various cryptocurrencies that enable network participants to carry trustless over-the-counter (OTC) trades without the involvement of any authority or a third party, and cross-platform wallets.
Technicals
DCRBTC was gradually growing from the beginning of 2018, recently the coin crossed the 100-days EMA, which brought it from the deep correction zone to a more middle position relative to the past peak. There were two relatively big spikes, one on April 25 and second on May 4, public opinion converges this spikes to huge buy-ins as the price continues to grow after. Psychological level 0.01 and Bullish Trend line should support the upward movement, breakthrough of the 0.012 level will open the way to the resistance on the 0.015 height.
