The Decred digital coin is an open and progressive cryptocurrency. The main objective is to use a community-based governance model which is built on blockchain technology. It is also a cryptocurrency making use of a proof-of-work model, and many actively mine Decred.
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The project uses a unique hybrid system, since it uses proof-of-work and proof-of-stake. Striking a consensus balance between miners and the rest of the community is not easy. Mixing PoW with PoS helps to create a robust currency. Allowing anyone in the world to participate in the project, regardless of owning expensive mining hardware makes Decred very attractive.
Decred first launched in September of 2015, and the project has built up a strong reputation within the world of cryptocurrency. This is due to its clever technical features. The internal voting system, for instance, is a big benefit for Decred users. It is a democratic way to solve any future issues on the Decred blockchain, should any arise.