One crypto asset under the radar suddenly outperformed the rest of the market with a huge price increase after the project released several updates.
Decred (DCR) is a community-driven, security-focused digital currency that aims to compete with Bitcoin (BTC) as a long-term store of value.
Decred whitepaper published in 2016 To tell It is designed to prevent powerful individuals and central planning committees from exerting undue influence on the future of projects.
The blockchain combines a proof-of-work and proof-of-stake consensus model, allocating a portion of block rewards to miners, proof-of-stake voters and fund development.
Bitcoin alternatives have their own composition. outline Decred Principles, Blockchain Governance, Project Governance.
Decred project lead Jake Yocom-Piatt said: announced I told them via Twitter that he had submitted a new community proposal to change the project website and message.
It is unclear if the project announcement is related to Decred’s price movement, but DCR’s price spiked shortly after Yocom-Piatt’s tweet.
The DCR rose from $27.42 to over $70.45 in just a few hours, an increase of over 156%.
The DCR has fallen to $37.60, up about 40% for the week at the time of writing. The DCR has risen significantly in the short term, but is still down about 84% from its all-time high of $247.
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