In 2012, a group of programmers who were part of the Bitcoin development core moved away from the project, disliking the centralization that was affecting Bitcoin more and more (where a few people can decide the future of a whole currency) and decided to rewrite a new, more modular and user-friendly program that can also act as a platform for anyone who would like to reuse code for other projects or forks in the future.
Today, this software, known as BTCSuite, has become the technological base of several organizations that have used it for their blockchain projects, among them the Ethereum platform. Three years later, this group announced a new virtual currency (Decred), which aims to fix certain weaknesses specific to Bitcoin first governance too centralized.
Decred is an open and progressive cryptocurrency that transfers its governance to the community of miners / users and integrates their remarks / returns into its blockchain.
At the heart of Decred is a hybrid consensus system that combines proof-of-work and proof-of-stake (PoW / PoS) in order to balance the wishes of the miners with those of the users.
The development of Decred began in April 2014 and its launch was on January 18, 2016. However, Decred is an open project and calls for a large participation of other volunteer developers in specific ways (Airdrop).
The decentralized and democratic protocol of DECRED
The DECRED consensus protocol is a hybrid system combining proof-of-work and proof-of-stake. This system makes it possible to restore a balance between the wishes of the user community (the 'holders') and the community of minors. Very open, the DECRED team calls the participation of volunteer developers to allow a technical improvement of its Blockchain. By using the Go programming language, DECRED is both fast and easy to use.
The DECRED cryptocurrency seems to announce great promises for the future and could bear fruit in the long run.
BuyHatke has built Bitbns, its crypto trading platform because the team is passionate about open, transparent markets and aims to be a major driving force in widespread adoption of cryptocurrencies in India. Since its inception, Bitbns has been tapping on the digital cryptocurrency economy like never before. Built on a multi-tiered server architecture, the site has an intuitive interface and is a force-majeure in bringing digital currency trading into Indian financial markets.