Decred (DCR) Analysis

Market Cap

$693,543,319 USD

Volume (24h)

$15,071,593 USD

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3.4

SAFETY

Ranking factors:

Markets

How many exchanges are there to trade this coin?

Decred Markets Rank: 10/100
Volume Ratio

How actively is this asset being traded on the market?

Decred Volume Ratio Rank: 2/100
Market Cap

The total cost of all coins available.

Decred Market Cap Rank: 99/100
24h Change

Is the price moving up or down?

Decred 24h Change Rank: 50/100
Social Following

How many users are following this coin?

Decred Social Following Rank: 97/100
Google Trends

How many users are searching for the coin?

Decred Google Trends Rank: 10/100
Twitter Citation

How many users are talking about this coin in Twitter?

Decred Twitter Citation Rank: 62/100
User Voting

How popular is this coin among Cointobuy community?

Decred User Voting Rank: 1/100

Decred investment analysis

Blockchain governance is a serious problem that plagues the distributed networks and has for the most part of the development stages of all decentralized applications been a steady discourse throughout the ecosystem.

Decred is a decentralized infrastructure built specifically to address the issues of governance within the blockchain ecosystem and also to provide a relatively easy transition protocol from one particular consensus to the other. What this means is that it ultimately has found a way of mitigating the dangers of hard forks which are the prominent fears of most blockchain products when an essential upgrade is imminent.

Decred investment has been around since 2016 and has quite an interesting price history. DCR has found a unique way of combining proof of work consensus mechanism with proof of stake algorithms to achieve a hybrid structure of achieving consensus. This way the platform is built on a robust system with buoyancy.

How to buy?

$55.46

+9%

$60.46

479/3506

by Safety

2928/3506

by Profit

How to buy Decred?

To buy Decred cryptocurrency, you will have to get some things set first:

1) A wallet in which to store your DCR once you have made the purchase. They have a custom wallet client, which can be downloaded from their website with a unique user interface that has been adapted to different operating systems such as Windows, Mac, and Linux systems.They also have a web-based wallet should the user decide not to download the software unto their PC.

Moreover, there are third-party wallet services that are compatible with the cryptocurrency, such as the Exodus wallet.

2) Check for available markets where the coin is being sold or traded. As of the time of writing, there are about 10 exchange markets with about 11 trade pairs with BTC, TRY, USDT, EUR and DOGE coins.

As for a technology, which has been in existence since 2016, one would expect more activity from more trade markets this might hopefully change as the coin continues to mature.

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Decred can be considered to be an evolutionary blockchain platform which will bring about so many advantages to distributed network protocols in the long run, especially when the issue of scalability has become a serious concern.

The future of decentralized technologies heavily lies on how the new generation applications can adapt to the changing environments and can be able to solve real-time problems as they expand and gain more prominent positions in the larger economy.

For decentralized applications to have more financial inclusion in the economy, they would have to do a lot more than present fancy technical papers, they would have to prove to the public that there is a reliable system in which shared participation can enhance achieving meaningful consensus.

This is the solution Decred provides. They are doing something that will have long-term profits and value in the community, just as is elicited by their on-chain hard-fork, which was initiated by the users themselves. This depicts a new generation of consensus management where users of the platform have more roles to play as much as the developers themselves.

The future of DCR is lined with so many ambitious elements which will supplement the intrinsic potentials of their product; of such we find the startup having a system that supports the development of user’s projects on the platform without discrimination and with pure intention to grant users the required support to succeed.

So much more is expected in the coming years and this goes without saying that the platform will continue to gain prominence with more achieved feats and results.

While not so much hype currently surrounds the project, the team are rather focused on developing a turnkey blockchain product with a credibility of the future stakes a major concern to them, they are content with having more organic growth in the price assays of the product rather than depend on pumps and dumps to give value to the project.

The platform has over 11,000 support strength from a community of interest parties, which continues to grow at a steady state.

While this is in no way an attempt to provide investment advice, an overall assessment revealed that to invest in DCR could be a potentially valuable decision and also a viable opportunity for diversity investment for long-term objectives. However, users should follow with as much information as possible and should do their due diligence and compare data from time to time.

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