decred logo
Decred
DCR
$18.03

Sector

DAO

Exchange Debut

2016-02-10

Market Cap

290,766,973

Maxim Supply

21,000,000

Circulating Supply

16,128,249

Circ. Supply(%)

76.80%
decred logo

Decred

DCR

Price

$18.03

Market Cap

Sector

Exchange Debut

290,766,973
2016-02-10

Volume 24h

High 24h

Low 24h

1444610
18.322754168944
17.685431946998

Change 24h

Change 7d

Change 30d

-1.0472
-6.1918
-11.7012

Maxim supply

Circulating supply

Circulating supply(%)

21,000,000
16,128,249
76.80%

The opinion of artificial intelligence (AI), based on the fundamental analysis of the Decred-DCR cryptocurrency:

 

Decred (DCR) presents itself as an evolving monetary system, combining Proof-of-Work and a unique Proof-of-Stake model to foster adaptability and rapid innovation. This approach allows stakeholders to have substantial influence in shaping the project’s future, thus enhancing their financial sovereignty. The overall score from the fundamental analysis of the Decred-DCR cryptocurrency reflects a blend of strong areas like team experience and ecosystem development, and weaker aspects such as social media presence and product utility. With a final score of 6.64 out of 10, it reveals a project with significant strengths but also areas needing improvement.

SOCIAL & MASS MEDIA: Score 4.8 out of 10

The social and media aspect of Decred scores modestly, indicating a mixed performance in engaging with its audience. Despite a remarkable presence in the media, the project struggles to attract followers and build large communities on social media and chat groups. This discrepancy suggests a need to enhance online engagement strategies to leverage its media visibility for community growth.

AUDIT & SECURITY: Score 3.55 out of 10

Audit and security, essential for any cryptocurrency’s credibility, are areas where Decred shows vulnerability. While the transparency of information and liquidity on exchanges are moderate, the low audit scores raise concerns about security and reliability, which are critical for user trust and long-term viability.

TOKENOMICS: Score 7.9 out of 10

Decred’s token economy is robust, reflected in its high score. The project’s approach to inflation and monetary centralization is commendable, suggesting a well-thought-out strategy that could contribute to the token’s stability and long-term value.

ECOSYSTEM DEVELOPMENT: Score 8.26 out of 10

The ecosystem development of Decred is impressive, with solid achievements and plans for future developments. This indicates a proactive approach in expanding the project’s capabilities and offerings, which is crucial for staying relevant in the fast-evolving cryptocurrency market.

TEAM & DEVELOPERS: Score 9.04 out of 10

The project’s team, particularly its software developers, is a standout strength. Their experience and expertise likely contribute significantly to the project’s innovative features and robust ecosystem, laying a strong foundation for future growth.

PRODUCT & UTILITY: Score 5.5 out of 10

While the utility of Decred’s product is recognized, the utility of tokens within the ecosystem seems underdeveloped. This suggests a gap between the project’s technical capabilities and its practical application, which could limit user engagement and token demand.

PARTNERS & INVESTORS: Score 7.2 out of 10

The project’s partnerships and investors receive a respectable score, indicating a decent level of support and collaboration. This network of partners and investors can provide valuable resources and credibility, aiding in the project’s growth and development.

Fundamental analysis of the Decred-DCR cryptocurrency – The final conclusion

The fundamental analysis of the Decred-DCR cryptocurrency reveals a project with notable strengths, especially in its innovative approach to governance, solid team, and ecosystem development. However, areas such as social media engagement, product utility, and security audits require attention. The overall score of 6.64 out of 10 indicates a project with potential, but with risks that should be considered. Investors and users must weigh these factors, especially the lower scores in critical areas like security, which could affect the project’s long-term sustainability and success. As Decred continues to evolve, focusing on these improvement areas could enhance its appeal and position in the competitive cryptocurrency market.

What is Decred?

 

Decred (DCR) is an open-source, progressive, self-financing cryptocurrency developed by former Bitcoin contributors to address Bitcoin’s limitations. Launched in 2016, it aimed to improve block scalability, privacy, and mining complexities while retaining Bitcoin’s best features. Decred uses a unique voting protocol combining Proof of Work and Proof of Stake, enhancing network reliability and participant consensus.

Origin and Evolution

Decred originated from disagreements within the btcd platform’s team in 2014. Developers sought to rectify Bitcoin’s flaws, culminating in Decred’s release. Initially, to promote adoption, developers distributed DCR coins for free to the first 5000 participants, a process known as the “landing method.”

Advantages of Decred

  • Network Decentralization: Unlike Bitcoin, Decred maintains full network decentralization, an increasingly rare characteristic in cryptocurrencies.
  • Mining Accessibility: Decred mining is cost-effective and possible on standard video cards.
  • Ongoing Network Improvement: The development team focuses on user feedback to continually enhance the DCR network.
  • Enhanced Confidentiality: The Schnorr program aids in high confidentiality without overloading the blockchain, allowing manual reversal of transactions.

Disadvantages of Decred

  • Lower Exchange Rate: DCR’s growth rate is slower compared to Bitcoin, potentially deterring investors.
  • Market Skepticism: Some in the crypto community question Decred’s legitimacy.
  • Transaction Time: Decred transactions take approximately 5 minutes to confirm, which is relatively high.

Acquiring Decred on SimpleSwap

SimpleSwap provides a straightforward process for exchanging cryptocurrencies like BTC for DCR. Users select the currency to be exchanged, choose DCR, and receive an estimated amount post-exchange. After providing the recipient’s address and creating the exchange, users transfer BTC to the provided address to initiate the swap.

Fundamental analysis of the Decred-DCR cryptocurrency

Decred - DCR performance

GENERAL CRITERIA:

Score

SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

Go to Methodology

Content description

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

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