Decred Price Doubling on Lightning Network News
Decred is showing strength with team expansion, technological robustness and adds talent with the Politeia competition on building over the Decred codebase.
Decred was an underappreciated project until recently, but the past couple of months saw developments that in the end led to its market price doubling in the past week, way above the general uptrend in the price of altcoins.
Decred (DCR) rose to a peak above $63 before retreating slightly, up more than 17% in the past 24 hours and more than 74% in the past seven days.
DCR has followed the rise of Bitcoin as well as appreciating in dollar value. The project team has caught the attention of investors with several developments- further tests of the Lightning Network, as well as the possibility for ASIC mining. For now, DCR is mined using graphic cards, but adding ASICs may lead more miners to the coin and make the network more secure.
#Decred's new rules have successfully activated and are live!— Decred (@decredproject) November 26, 2017
These features will allow the network to completely support the most useful application of smart contracts to date - the forthcoming @lightning network.
Here's to the future benefits of scaling and privacy in $DCR! pic.twitter.com/2P8CtER1ka
Decred is a project with a well thought-out consensus system, which leads to faster decisions on code change. Decred hard-forks regularly to create a single version with new rules for better performance.
Decred is also a project taking up the trend of codebase contests to attract more talent to further developing cryptocurrencies. The Politeia competition has gained publicity for the company, expanding the promises of its code base and the running of Decred's version of smart contracts.
One poster suggested that Decred further publicize and democratize the Politeia competition:
"For the Decred DAO to be successful it needs to develop good social norms and processes to make best use of the tools available to it, and the competition is an opportunity to kick that off on the right foot."
For now, the competition is mostly known to users close to the Decred project, but it is an indication of an active community attracting talent.
Decred, along with Viacoin, Vertcoin, Litecoin and Bitcoin, is one of the projects that is the most enthusiastic about the Lightning Network and the possibility for switching between assets without a centralized exchange.