Decred (DCR) is rallying – up 26% at the time of writing – due to the listing on Binance. The coin has shown some static trading before this announcement, but now the coin is rolling.
According to the announcement “Binance will open trading for DCR/BNB and DCR/BTC trading pairs at 2018/10/24 04:00 AM (UTC). Users can now start depositing DCR in preparation for trading.” According to its website DCR is an “open and progressive cryptocurrency with a system of community-based governance integrated into its blockchain.” It is this governance plus a hybrid consensus model of PoW and PoS that separates it from Bitcoin and regular digital currencies.
According to the company’s description:
“A censorship-resistant blockchain-anchored public proposal system, which empowers users to submit their own projects for self-funding from DCR’s block subsidy. Pi ensures the ecosystem remains sustainable and thrives.”
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In addition, the company’s blockchain governance, Decred Politeia software went live this month. Politeia builds on Decred’s existing approach of combining proof-of-work and proof-of-stake consensus by attempting to turn over all governance decisions to those actively participating in the operation of its protocol at the time of any given decision.
“It is important to understand that Politeia is a very powerful tool: it can enable all manner of positive developments for Decred, but if used unwisely, it can lead to a wide variety of problems.”
The governance software gives holders of the cryptocurrency a way to exercise control over every aspect of the project putting the entire treasury of an estimated $21 million in their hands.
“Once the smart contract replaces the corporate entity as the holder of the Treasury funds, there is no longer a legal entity to target with sanctions or other penalties that could result from certain stakeholder-backed actions.”