Decred, Litecoin and Bitcoin. - The road to complete consensus, and how crypto-politics will shape the future of economic democracy.
CHANGE.
Change is a big word in the crypto universe. Decred is here to make changes
Some people want change- Some people do NOT want change.
Take Bitcoin as an example: Big changes are difficult for Bitcoin to implement, because of its conservative consensus protocol. The strength of Bitcoin is in its ability to stay relatively unchanged. Very similar to Gold. - Bitcoin is considered the new gold.
Open question: Do we really need to change Bitcoin?
Bitcoin: A community split in two.
About half of the Bitcoin community has been trying to change Bitcoin. This has created conflicts, such as the "Blocksize debate", and the "Segwit integration", which will enable the "Lightning network".
In other words; the Bitcoin community is unable to reach consensus.
Definition: Consensus - A generally accepted opinion or decision among a group of people:
As a result of Bitcoin’s lack of consensus, the community of Litecoin (LTC) started promoting the integration of Segwit; because Litecoin’s method of consensus enables changes more easily.
(BTC needs 95% of votes to change, LTC needs 75% of votes.)
The miners of Litecoin successfully voted "Yes" for Segwit.
Who had direct voting rights in the vote?
Only the miners of Litecoin were able to vote directly on the issue, ultimately making the change. The rest of the community could not do anything else than watch, and try to influence.
Do the miners represent the community in full extent?
No. Bitcoin’s and Litecoin’s voting power is centralized between the miners. This allows the miners and mining pools to manipulate the price to a higher degree.
Their consensus models are ignoring one of the most important aspects of a cryptocurrency’s value:
- Investors and token holders.
Decred (DCR), or "Decentralized Credit" is here to change that.
“Everything that can be decentralized, will be decentralized” - Johnstons Law
Decred is the pioneer of effective consensus mechanisms, which can inspire global politics and become the most dynamic and progressive cryptocurrency of the future.
With Decred; voting power is also in the hand of the token holders.
INVOLVEMENT
Decred provides direct involvement for ALL their users (who has money to buy voting tickets), and provides a greater feeling of engagement, than any other crypto currency.
BLOGPOST: Vote for Lightning Network on Decred
Observation:Decred just started voting for the Lightning network, already 98% voting "Yes".
Compared to any other coin; Decred can implement changes much faster and in a more decentralized way.
Voting rights for everyone!
Decred is more resistant to attacks than Bitcoin:
Decred needs developers and contributors.
Join their slack channel. And be a part of the new democracy of internet.
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nice post man and decred is now adopted by this exchange
https://news.kucoin.com/en/99-discount-over-the-trading-fees-on-dcr-trading-pairs/
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