Decred PoS process explained We strongly recommend new users to use a voting service provider (VSP). Unless you are able to keep wallets online 24/7 for a longer period of time, it is wise to use a VSP. They are only used to delegate voting power. The operator cannot steal your funds, the locked ticket price will remain in your wallet. There is an updated list of VSPs that has been audited by the Decred developers. 1) If you are completely new to Decred, make sure to read the documentation. 2) Download one of the wallets from the Decred website. Recommended wallets are Decrediton or the Command-Line wallet. Your wallet will need time… Read More
Continue ReadingCyphocracy - the easiest way to explain Decred governance
Decred has a unique governance system. We all know that. Our governance system allows on-chain hard fork voting (for consensus rule changes) and soon we will have a newly developed proposal system (for all kinds of proposals). This way, it is not only up to the miners and developers to determine the future of Decred. Users and stakeholders are also involved in the governance process. In recent discussions on social media we encountered many questions about Decred’s governance system. Most people immediately associate our governance system with a democracy. This connection is understandable because Decred introduced hard fork voting. However, our governance system is not democratic at all. Decred is… Read More
Continue ReadingDecred Proof of Stake Explained (Video by Boxmining)
Boxmining created a video trying to explain the Decred unique take on Proof of Stake in simple terms. Decred uses a highly advanced Proof of Stake system to solve issues with protocol upgrades and community voting. On top of this, it rewards voters DECRED as a reward for voting, effectively giving interest to DECRED holders:
Continue Reading