Decred

Decred is a Layer 1 cryptocurrency and decentralized autonomous organization that combines proof-of-work and proof-of-stake consensus. It is designed to evolve through stakeholder input, with coinholders voting on network changes, proposals, and treasury spending. The treasury is self-funded from 10% of the block reward, supporting development and project activities without external capital.

Key features include staking with self-custodial participation and voting rights, a proposal platform for treasury-funded projects, optional privacy mixing with post-quantum secure cryptography, and a DEX built on atomic-swap technology for peer-to-peer trading without trading fees or KYC. Decred also supports Lightning Network development for Layer 2 scaling, including Bison Relay for secure communication. The network uses a hybrid consensus model intended to be more resistant to 51% attacks than pure proof-of-work or proof-of-stake systems.

Decred is aimed at users who want direct participation in cryptocurrency governance and development. The project is open-source, with wallets, a block explorer, a timestamping service, and a bug bounty program available. Stakers earn a portion of the block reward for participation, and the block reward reduces by 1% every 21 days.