Gate.io AMA with DCRN-A More Progressive and Balanced Cryptocurrency Governed by the Community
Time: Oct 21th, 2022, 11:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Stephanie Lee,Community Manager at DCRN in the Gate.io Exchange Community.
Official Website: https://dcrn.xyz/home
Twitter: https://twitter.com/Decred_Next
Follow DCRN on Twitter and Telegram
Guest
Stephanie Lee — Community Manager at DCRN
Q&A from Gate.io
Q1: Can you give us a brief introduction about DCRN?
Stephanie: Yeah, sure. DecredNext is a decentralized autonomous cryptocurrency that is sustainable, flexible, and 100% open sourced. DecredNext inherits the merits of Decred and employs a hybrid of Proof-of-Work (PoW) and Proof-of-Stake (PoS) s that yields the best of both worlds.
Decred-Next retains the excellent features such as high security, strong adaptability, and sustainable development of Decred. Moreover, we plan to achieve EVM, sharding, OmniLayer, and other features in the future.
Decred-Next enables more efficient circulation of digital assets and allows users to write smart contracts and issue NFTs. Compared with Decred, Decred-Next is more efficient, robust, vitative, and competitive.
Q2: Can you also please introduce the team?
Stephanie: The founding team of the DCRN consists of key members from Decred and other decentralized development projects, including software engineers and product managers who used to work at Google and Meta. The team is passionate about the future of DCRN.
Q3: Can you explain to us how the incentive distribution mechanism of DCRN works and tell us about the Hybrid Consensus mechanism?
Stephanie: In terms of incentive program, DecredNext inherits Decred as block rewards are split between Proof-of-Work (PoW) miners, stakeholders and the DecredNext Treasury. 60% of the block reward goes to Proof of Work miners.
30% of the block reward goes to the holders of the tickets that voted in that block. The remaining 10% of the block reward goes into the DecredNext Treasury. Holders of live tickets decide how that treasury is used.
Q4: Can you also tell us why DCRN intends to fork from DCR? What are the advantages of DCRN compared to DCR after the fork?
Stephanie: Absolutely, another brilliant question.
There are two main reasons behind this tough decision.
First and foremost, we firmly believe PoW must play a dominant role in DCR and disagree that the subsidy split of 10%, PoW/ 80%, PoS is for the good of the community. With the PoW proportion being cut to 10%, we have seen a loss of computing power and the mining machines losing value.
Secondly, we were expecting the original Decred to explore more to strengthen the community, but little did we see. Especially in the past year, the development of DCR has been very disappointing. The total market capitalization of DCR has fallen out of the TOP100.
Besides, we saw little growth of the community as we missed a lot of opportunities in GAMEFI、NFT、WEB3.0, etc. However, we didn’t see efforts on marketing while the popularity of ecology and community has been declining.
Therefore, we are eager to make the community great again by introducing DCRN which was designed to build a naturally balanced and drive the thriving of the community.
Compared to DCR, DCRN is developing an extendable ecology that would support a large amount of applications and innovations. We are utilizing EVM, sharding, OmniLayer to explore more possibilities in Web 3.0.
Q5: Can you tell us about the project’s roadmap?
Stephanie: For the roadmap
- By Oct 2022, DCRN can be used to buy hashrate (rent mining machine) at blake 256 hash rate trading platform, where blake 256 hashrate buyer and seller trading.
- By March 2022, complete the TPS promoting project, using Zero Knowledge or Sharding technology.
- By June 2022, the EVM and OmniLayer will be integrated into DCRN mainnet, after that we can develop the eco of Decred-Next.
This is our roadmap for our major milestones.
