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    Author Topic: [ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network  (Read 1202230 times)
    Lukas_Jackson
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    January 25, 2016, 02:29:32 AM
    Last edit: January 25, 2016, 02:39:45 AM by Lukas_Jackson
     #1021

    The premine consists of 8% of the total supply of 21 million coins, meaning the premine consists of 1.68 million coins. Rather than allocating the entire premine to the bring-up costs, we decided to split the premine equally between compensation for bring-up and an "airdrop", where we freely give an equal amount of coins to a number of airdrop participants. This means Company 0 and its developers will have put roughly USD 415,000 into the bring-up since April, 2014 and receive 4% of the total supply, 840,000 coins (at USD 0.49 per coin). The remaining 4% will be spread evenly across a list of airdrop participants as part of an effort to build the Decred network and decentralize its distribution.  Coins held by Company 0 will be used to fund its ongoing work on open-source projects, such as Decred and btcsuite.

    Premine? Really? And 4% goes to one company straight away for free.


    Decred is an open, progressive, and self-funding cryptocurrency with a system of community-based governance integrated into its blockchain. At its core is a hybridized proof-of-work proof-of-stake (PoW/PoS) consensus system that aims to strike a balance between PoW miners and PoS voters to create a more robust notion of consensus.

    ...

    • Novel hybridized proof-of-work/proof-of-stake (PoW/PoS) consensus system - A decentralized lottery is used to select PoS miners to vote on PoW blocks. The PoW and PoS subsidies account for 60% and 30% of each total block subsidy, respectively.
      • Cold staking and decentralized stake pooling - The ability to generate new coins without the risk of having your coins online when PoS mining. The PoS mining system has also been engineered with distributed, decentralized stake pooling in mind, so that even those with small amounts of stake can participate in network validation.
      • Internal voting system for the addition of new features and hard or soft fork selection - Both PoW and PoS miners can vote for features and issues through bit flags, providing a sensible mechanism for resolving disputes about the features of the blockchain.
      • Compatibility with Bitcoin transaction scripting system - Decred's scripting system has been derived from Bitcoin's with care in ensuring that all future updates to the Bitcoin transaction script will be easily extensible to Decred. Further, any newly created functionalities will also be devised with backwards compatibility with Bitcoin in mind.
      • Self-funded development via block subsidy -  In order to have an ongoing source of funding for development work, a consensus rule has been added to allocate 10% of each block subsidy to a development organization. This entity is transparent and responsible for funding development work performed by current and new developers so that the project remains sustainable without a funding dependence on outside forces in the future. Decred therefore improves with growth in a sustainable way and is accountable only to its users.

      ...

      Project Governance and Development

      In addition to the technical features that make up the technology, Decred as a project introduces several development and governance features and proposals to ensure and steer long-term growth. We encourage participants to discuss these topics earnestly, as we want to ensure the system of development and governance is built on a solid foundation.

      • A multi-stakeholder development ecosystem that welcomes and empowers participants who want to build new functionality and improve on existing features.
      • Any party can submit feature proposals and developers are paid for work to fulfill requirements. This is done in full view of the community in a system designed to fight against ingroup-outgroup dynamics.
      • A proposal for a layered form of transparent meritocratic governance that extends beyond proof-of-work and proof-of-stake mechanisms to bring forward and represent insider and outsider voices in the community.
      • A proposal for bottom-up decision-making through the Decred Assembly, an evolving and inclusive list of community members who make non-financial contributions to the project through their work and effort.
      • The project is bound by the Decred Constitution on the core principles of finite issuance, privacy, security, fungibility, inclusivity, and progressive development of the technology that keeps these principles together.


    Sounds like Dash.
    I'm interested.

    It is easier to be an aggressive victim than to be a free man.
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