One under-the-radar crypto asset suddenly outperformed the rest of the markets with a huge price rally after the project announced some updates.<\/p>\n
Decred (DCR<\/a>) is a community-directed, security-focused digital currency that aims to be compete against Bitcoin (BTC<\/a>) as a long-term store of value.<\/p>\n Launched in 2016, Decred\u2019s whitepaper says<\/a> it is engineered to prevent powerful individuals or central planning committees from gaining a disproportionate influence over the future of the project.<\/p>\n Its blockchain combines both proof-of-work and proof-of-stake consensus models and appropriates portions of block rewards to miners, proof-of-stake voters and fund development.<\/p>\n The Bitcoin alternative has its own constitution that outlines<\/a> Decred\u2019s principles, blockchain governance and project governance.<\/p>\n Jake Yocom-Piatt, project lead at Decred, announced<\/a> via Twitter that he had presented a new community proposal to change the project\u2019s website and messaging.<\/p>\n While it\u2019s unclear whether or not there was a connection between the project\u2019s announcement and Decred\u2019s price action, DCR exploded in price immediately after Yocom-Piatt\u2019s tweet.<\/p>\n DCR moved from $27.42 to over $70.45 in a matter of hours, representing gains of over 156%.<\/p>\n DCR retraced down to the $37.60 mark and remains up roughly 40% on the week at time of writing. While up big over the short term, DCR is still about 84% down from its all-time high of $247.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>
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