Decred - Definition from the Hotspot Shield Encyclopedia

Decred is an open source cryptocurrency that was created as an alternative to the other cryptocurrencies on the market.

Decred uses a proof-of-work and proof-of-stake hybrid to create a robust system. The currency also uses the Blake-256 hash algorithm for security, and the secp256k1 signature scheme, its code aims to provide long-term stability and maintainability. The cryptocurrency aims to provide open development with a multi-stakeholder system that encourages participation from anyone who wants to make improvements. The open source currency features a wallet service for the transaction of the coins. The currency uses a mining process for the creation of coins similar to that of Bitcoin.