The digital asset, aiming to become a part of the atomic swap team along with Bitcoin and Litecoin, keeps fighting for recognition and adoption in 2018.
Despite the recent shakedown in prices for Decred (DCR) pushing the coin down to $71, the project seems to be fighting for recognition in 2018. DCR slid nearly 20% in the past week to $70.79, as the slide continues, but positive news are in the background.
CoinBought added the asset recently, with the possibility to shop from Amazon through crypto coins. While not adopted directly by Amazon, this opens up the usage for DCR coins.
CoinBought is an intermediary service that takes some of the risk and technological tasks, hence the rather steep fee of 3% on all purchases. However, spending crypto directly is part of the trend in 2018, as coins aim to expand their visibility.
The Decred project also aims to become an ASIC-mined network. In February, the hash rate for the coin doubled at one point, and has been on the rise, giving a better security for transactions. The difficulty has risen, reflecting the renewed interest in DCR in 2018.
The Decred mining chart is a reflection of the maxim that “miners follow the money”, as it seems hashing power has moved to this digital asset in the new year as the market price held close to $100, despite some setbacks. DCR was also one of the fast-recovering coins after the critical selling days in February.
Yet for now, DCR has been highly volatile in dollar terms, while preserving its positions against Bitcoin. At the moment, the Decred project positions itself as an addition to Bitcoin, but also as an alternative, better blockchain that solves some of the issues. The Decred project announced recent speed improvements:
New block infrastructure added to dcrd. Significant speed-up of startup time. Timing tests:
On 7200 RPM HDD (testnet).
Before migration: ~2m34s
After migration: ~9s ?
On SSD (mainnet).
Before migration: ~21s
After migration: ~2.7s ?https://t.co/Th2B0jBRJi #Decred $DCR
— Decred (@decredproject) February 25, 2018
Bullish on Decred?
Decred has a lot to deliver in 2018, and the investor community sees it as an under-appreciated coin. One of the factors is the transformation of DCR into an anonymous coin:
#Decred $dcr privacy is getting closer. A little birdie told me yesterday that the primitives are done and integration has started. @decredproject
— Marco Peereboom (@marco_peereboom) February 22, 2018
Also, Lightning Network tests and atomic swaps may continue, for now with uncertain direct results. But one of the best features of Decred is considered the governance system which combines proof-of-work with verification staking nodes.
Based on hashing power alone, some believe DCR has its place among the top 10 coins, with prices at least close to those of Litecoin. For now, Decred has seen serious backtracking, but in 2018 may move upward, as it did in the months before. The DCR price has gone a long way, and only months ago the DCR market price was stuck at $30 before moving to a new range.
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