DECRED Review 2022: Is This Coin Scam?

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DECRED or DCR currency is based upon the same Bitcoin model that was previously used with all other cryptocurrencies that aims to be a solution of Bitcoin’s issues. Is DECRED really a real and reliable currency or scam? Let's figure it out now.

DECRED founder and its team​

Many of the developers behind Decred are the same people who helped design the grandfather of all cryptocurrencies, Bitcoin.

These developers were frustrated with what they saw as a centralized development team imposing their will upon the community. The frustrations led Alex Jacob-Pitt and the other developers to found Company 0 and launch Decred in February 2016.

Their aim was to create a truly decentralized cryptocurrency that could not be dominated by mining interests or even its own developers. To do this they took the unique step of allowing the Decred community to vote on the future direction of the cryptocurrency.

The DCR Token​

DCR ultimately seeks to be the alternative to Bitcoin as a store of value in the cryptocurrency space. DCR is also used within Decred’s ecosystem for voting, staking, and powering platforms such as Decred’s decentralized exchange (DEX) which are still in development.

Since Decred’s development is fundamentally community driven, what DCR can and will be used for will likely change as the years go by.

DECRED’s security​

Decred’s hybrid PoW/PoS is estimated to be 20x more expensive to attack than bitcoin. Theoretically, this makes decred more secure because there is far less incentive for hackers to target the coin. Decred is also less vulnerable to a “51% attack” thanks to its PoW/PoS hybrid model.

What do people talk about DECRED?​

In the short term, the price outlook for Decred, like many other cryptocurrencies, is incredibly unpredictable. The cryptocurrency market is still relatively young and prone to volatility. Therefore, you shouldn’t be surprised by large price fluctuations. On a medium- to long-term basis, Decred will likely continue to rise. While Decred has yet to achieve mainstream attention, some experts are still positive about the potential impact that their approach could have.

Not only do professors have a positive look for DECRED but also crypto users show their satisfaction for the token. DCR received a very high rate on Revain as shown in the following screenshot.

“ Is DECRED scam or legitimate?” - What is your answer? Please feel free to write it down in the comment box below.

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