Decred News: Funded by Decred Treasury Fund Hello and welcome to another update on Decred news. We're on the brink of Decred's biggest release in years – version 1.6 This launch will bring privacy, the lightning network, and decentralize the treasury pool, making Decred one of the largest DAOs in crypto. The treasury fund as of this video is worth around $ 37 million dollars and increases with the bull market. We are also seeing the highest staking share ever seen for the project, with over 55% of circulating supply staked. The fact that Decred is being wagered while we are on the rise shows how much confidence there is in the protocol. With that said, let's move on to the development updates. Decred dcrd release candidate version 5 is here to be tested. This candidate primarily has internal enhancements that fix various bugs and other discovered oddities, as well as a general polish. In the privacy tab, users can now send all available funds from your default account to an unmixed account by pressing a newly added button.
This makes Decred's mixing process even easier. The what's new section in Decredition has also been updated to show the features of v1.6. The wallet translations have also been updated. Users can now disable UI animations to make the wallet much faster when switching between tabs. Decred developer Marco Peereboom says more are on the way in 2021, with 2 exciting things planned for this year. Remember that Decred has the ability to change its consensus code through stakeholder vote and the project treasury fund to finance new developments. Things will be built and added to Decred not just in the next year, but decades to come. With the treasury fund increasing in value, I hope this will attract talent from outside developers, and let's start to see more and more proposals in Politeia. A pre-proposal has come in from DEX developer Buck called Decred Eco: a GUI application manager for Decred. Decred Eco's goal is to be a comprehensive Decred application manager that automatically stays up-to-date.
and allow users to launch Decred applications like Decred, the Decred wallet, DEX and other software like Ticket Splitting. Other applications can be expected as the Decred project is constantly growing and expanding. Imagine a Decred-based version on the popular Steam gaming platform, where all your applications are constantly updated and ready to launch with a minimum of tweaks by the user. Buck says a working prototype for Linux and Windows has been made and is in the works. The schedule and costs are 9-12 months until completion and a $ 59,800 request. I will leave a link in the video description for those who want to read more about Decred Eco. Taking a look at the privacy statistics, more than 29% of Decred in circulation has been actively mixed, that's over 3.5 million decred, and version 1.6 is yet to arrive. Speaking of privacy, Edward Snowden spoke again about Bitcoin's lack of privacy features, despite being around for 11 years.
Unfortunately, the Bitcoin network as it exists does not provide the protections of privacy really necessary for this type of transactions at scale and I think it should and could and it is clear to me that developers They believe this should be done for whatever reason, however when we are talking about improving Bitcoin for any reason, they don't budge to do this, which puzzles me because now they've had years to do it. I am not picking winners and losers. I don't care or care who wins this over there. I believe that what the world needs, what we need it is a truly independent means of allowing private transactions. My big question is why are they taking so long? If Edward Snowden wants to have money that is upgradeable and has privacy features, he should probably look at Decred.
We also saw a lot of community activity in the form of podcasts and videos. I went in there and just did my standard scan through all the metrics over the string and basically everything was an all-time high: in volume of transactions, volume of participation, amount of participation, mix of currencies in a day, obviously the DEX and LN were at all-time highs. I was looking at the metrics on the chain for Decred all the time finding tall measurements. From left to right, in the center, it's too impressive, Even I was surprised by the magnitude of what you know you were looking for so that stakeholders will buy tickets. Well, we certainly do. And I want to say that it is crazy, how the percentage of offer in the group of tickets is now at all-time highs And you know the crazy thing about all this is because these all-time highs are being pushed from a chain perspective that is simply, you know, more stakeholder engagement.
and know the natural optimism of what is known about the DCR token and all this is happening before the 1.6 is out. The absolute participation of the Decred DAO and the DCR give viability to become a kind of monetary asset. You know he has legs, let's see what happens in this bull market, you understand and I'm pretty sure that in the upcoming 1.7 version, You know what's great about Decred, you get it, 1.6 hasn't even come out yet. and it is already working on 1.7 and we know that one of the things that will go into the wallets will clearly be Multi-sign, and multi-sign, ultimately, is the backbone and really what makes UTXO strings very different from what is known from traditional money is that you can have these elegant and unique custody solutions and what is so fascinating about the space in the chain It is essentially, you can see it Nino, I love it when you talk about saying it's objective truth, it's just what happened in the ledger and the best thing about what happens in the ledger is that it is really very expensive, right? every print, whether it's a difficulty setting, whether it's a hash, be it a transaction, Whatever it is, that's right, the coins that will not be spent, those that will be spent, and those that will be spent.
All of those things are very, very deliberate actions, if you are not looking at google search trends, if you are not looking at traditional media, if you are not listening to guys, you just draw fancy pictures on the graphics, when actually looking at the data like Chackmate and Nino are doing you could see the indicator that says everything you need to know and that's what chain analysis is and the evolution of this base is what we need in terms of analysis.
Decred contributor Checkmate has posted an amazing Decred tutorial. So what Decred did with governance instead of the rough consensus model, which is essentially where there is a Mexican showdown in which miners, users, nodes, economists, and developers they argue on Twitter and yell at each other on GitHub trying to figure out what is the good code and the standard approach for a rough consensus does not change unless there is a global consensus and that means it is generally much longer and slower much more challenging and there is great risk in implementing network updates and as they tend to take many years not only for the debate and discussion phase, they are then implemented, so there is a very time-consuming layer to all of this.
The main reason I think it's important to watch Decred right now Decred 1.6, which is probably the biggest update in Decred history, is on the horizon. The community has affectionately called this thing "Hidden Hydra" because the hidden side is that it captures the element of privacy that is entering. so "Hydra" is essentially what is going to degrade multiple heads and make it unstoppable. Decred Project leader Jake Yocom Piatt appeared on Cointelegraph talking about the possible effects of a central bank acquisition of the digital currency. He says that cryptocurrencies like Bitcoin and Decred are fairer fundamental systems than fiat currencies, So while CBDCs can adopt many characteristics of cryptocurrencies, they cannot compete on equity.
This is because cryptocurrencies have deterministic issuance schedules and self-custodial assets, while CBDCs are digital fiat only. Decred Arabia created an excellent educational video explaining Decred's hybrid consensus system. The Decred Arabia team has a proposal to continue funding their future work, more details will be given later in this video. The Stakey podcast was very active producing new episodes. Eduardo has a proposal, more on this below in the video. What is it about, you know, Decred on the hundreds and thousands of others you saw that this one could be holding onto for a decade If you really try to start using Bitcoin, you know this has problems, it has problems that actually make it unusable for me, I don't want the person I'm sending to I can dig into my past transactions as just a deal breaker Just because it was the first I am extremely sure that he will not be the one, I think that these problems that he has will end up killing him, there was nothing like Decred that had the potential to cover all of those things, (the government stuff we all know.) (Yeah, yeah, yeah) the team and incentives aligned.
How is it that you become …? Knowing the ability to change, the ability to adapt and the speed and have a government to see those changes and that's it. Decred is still not perfect today, but it is moving in that direction. of being uncontrollable. As interest in Decred rises in this bull market, Decred was the # 3 traded currency on the Brazilian exchange NovaDax. after Bitcoin and Ethereum. Politeia, Decred's public proposal system, has some new proposals for discussion and voting. The phase two proposal for the Chappjc Decred DEX development is here. Phase 1 of DEX development saw the completion and release of a minimum viable product version of the DEX which has executed tens of thousands of transactions worth DCR through atomic swaps without intermediaries, no KYC requirements and no commercial fees.
Phase 2 sets out some highly sought after goals such as: smoother onboarding through the use of simplified payment verification wallets that will allow quick starts and they will greatly reduce disk space usage, as users will not need to have full nodes to operate the DEX. Decrediton integration efforts for DEX to be added to Decred's main wallet. and support for more assets, naming as an example: Ethereum and its ERC-20 Token standard, which would make it possible to trade popular stablecoins like USDC and Tether. Bitcoin Cash and other Bitcoin forks are likely to be added as they don't require too much development time. other work for this proposal includes ongoing bug fixes under the hood, UI updates and other product enhancements as time goes on. Chappjc says that the expected delivery for these developments is 6 to 9 months with work divided between 3 and 4 full-time developers. Total estimated cost is $ 245,000 USD paid in DCR and billed monthly through Decred's Contractor Management System.
Some initiatives that did not make the cut for this proposal, but could see work in the future are: exchange compatibility with Monero, integration of the lightning network and a server mesh that would take decentralization to the next level. Everyone in all the comments was excited about the release of DEX and the next proposed improvements. One commenter wrote "with strict KYC requirements and a crackdown on privacy-oriented coins, this proposal couldn't come at a better time.
" The community appreciates and understands how important it is to be able to buy and sell DCR without permission and in a truly decentralized way. The next proposal is "Decred in Depth Live" by Eduardo Lima. Eduardo is taking over as Mr. Black and starting a new season of Decred in Depth, Decred's informational podcast series. He says he will broadcast 24 to 36 episodes live with each episode post-produced and made into a podcast. In addition, it will extract several smaller clips from the Podcast to broadcast teasers on Twitter and other social media sites. Calls for $ 500 per episode to be completed over the course of 2021. says the episodes will be streamed live for viewers to tune in while the Podcast is on, and then they will be edited and uploaded on various platforms.
For the last 4 months Eduardo has been hosting his own Decred-focused podcast called "Staked", and has had several different guests to talk about Decred and cryptocurrencies in general. Commenters have been positive about the proposal noting how important the Decred in Depth series has been to marketing, and about Eduardo's commitment to the Decred project, which has already produced 4 months of content. Some concerns were based primarily on the format and quality of the production. Eduardo says he will handle Decred in Depth with more professionalism compared to the Staked podcast, which is freer.
Decred stakeholders can vote directly from their wallet by going to the governance tab. A new proposal from Ammarooni has arrived entitled "Decentralized credits: the digitization of money and the State." Ammarooni plans to write a book based on her Decred studies in an economic context. Phase 1 of their work involved researching the Decred protocol followed by a series of written articles that have become quite popular within the Decred community. His focus now is to study Decred as both a monetary asset and as a DAO. His research articles will eventually be published as a free book available in PDF format, as well as on Amazon Kindle. Ammarooni argues that one of the key reasons that Bitcoin is so successful is because of the amount of educational material that draws people to the rabbit hole. Decred has a more complex design than Bitcoin, however we only have a small fraction of the amount of educational material. Request a maximum billing fee of $ 2,000 per month paid in Decred over a period of 8-10 months, and $ 1,500 for completion and publication of the finished book once completed.
Commentators have been positive about the proposal, pointing to popular Bitcoin books as a great way to educate newcomers. When asked about his writing ability, Ammrooni mentioned that it was recently published in Bitcoin Magazine and NASDAQ.com I will leave a link in the video description to Ammarooni's Medium account where you can read all his work on Decred completed so far. And finally we have the Saudi communications and content creation proposal published by Arij The purpose of this proposal is to increase awareness, presence and adoption of Decred in the Arab region. This will be done by creating content in Arabic, holding local events and a growing presence on social media. Leading the proposal is Insaf Nori, who has been actively contributing to Decred through translations, content creation and events. Zakaria will contribute as a designer. He has done numerous Decred arts, which you can find on Twitter. They say that Blockchain technology today is emerging in the Arab world The total budget is $ 6,200 with a duration of 6 months. User feedback has been positive, praising the frugal budget and hard work demonstrated by the proponent. Thanks for tuning in to this week's news update, be sure to visit decred.org to learn more about the project.
Decred is Sure. Adaptable. Sustainable. Learn more at decreg.org.