CEO Jake Yocom-Piatt announced that Company 0 launched Decred widely on Monday, Feb 8th. It's the latest alternative coin, and like many others wishing to one day be as big as Bitcoin is today.
Tuesday the brandnew cryptocurrency was given a value of $1.27. With Bitcoin's value at $373 at that time, Decred still has a long way to go, but it's a start.
“I knew there would be a market for this because there have been several attempts at creating the next major cryptocurrency,” Yocom-Piatt said.
The main difference between Decred and Bitcoin, according to Yocom-Piatt, is that Decred is built as a system that can't progress without input from the community using it.
Corporations such as Dell, Expedia and Overstock are among the bigger ones that accept Bitcoins as payment. However, this didn't happen ephemeral. Jonathan Solomon, founder and CEO of Bitcoin ATM company Digital Mint, said: “You're not going to be able to go on Dell.com anytime soon and spend Decred the way you presently can Bitcoin. It's taken Bitcoin a lot to get to this point.”
Decred is, at least at first, likely to appeal small traders and hobbyists who are willing to risk trading on small exchanges. Solomon said: I'll consider adding Decred to a small portfolio of altcoins I maintain to keep a finger on the pulse of the market.” He added: “Bitcoin is scary to some people. Altcoins is a much scarier world because anyone could essentially create an altcoin.”
Decred offers, besides the more common mining, a unique wy of earning coins: People can earn Decred coins by voting on details of each block. The value of Decred is that the voting system puts control in the hands of the users, not the developers.
Yocom-Piatt concluded: “We have a system that isn't based just on what the developers say. We engineered as much of a democracy as you can engineer into a system like this.”