|Key People||Jake Yocom-Piatt, CEO|
|Products||Mined autonomous digital currency, DCR.|
Decred was founded in 2016 in order to address perceived weaknesses in bitcoin governance by several early bitcoin developers who self-financed the project.
The Decred team developed a governance platform, Politeia, which combines proof of work with proof of stake based on a belief that such a system would disrupt the decision-making incentives of bitcoin. Jake Yocom-Piatt, the CEO, noted that in many crypto projects, the majority of participants were very poorly informed and a small minority was well-informed. Yocom-Piatt said that he believes the incentives are such that the small minority uses their understanding advantage to enrich themselves relative to the majority. Politeia is an attempt to democratize governance by letting holders of the Decred currency to share votes with other Decred holders.
Politeia is to be used for company treasury decisions as well as for constructing the lotteries for choosing who gets to validate blocks of mined Decred.
Decred had a market capitalization of $155,611,444 on February 11, 2019, making it the 32nd largest cryptocurrency at the time.
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