Decred is an autonomous digital currency, an open-source and blockchain based cryptocurrency which uses BLAKE-256 hashing function used for mining DCR. Decred was launched in February 2016 by Bitcoin developers who developed a full-node Bitcoin implementation written in Go language known as “Btcsuite”. This program was used to build other major blockchain projects such as Ethereum and Factom.
Its been a year mining Decred with 6 Nvidia 1080 Ti. Mining DCR with GPU is no more profitable due to the release of Blake-256 ASIC miners which provides high hash rate and power efficiency to mine Decred.
I think faucet will be a great way to dive in DCR without any investment, please let me known some of the best and legit faucets available on the web.
There are some Best Decred (DCR) faucetsavailable on the web and some other ways from which you can make some free DCR coins without any investment.
What is Decred (DCR)?
Decred is a hybrid blockchain consisting of Proof-of-Work, Proof-of-stake consensus both used to provide a consensus which conforms new blocks including transactions. This hybrid version is known as Proo-of-activity for consensus.
Decred was founded by Alex Yocom-Piatt, Dave Collins, David Hill, Jake Yocom-Piatt, John Vernaleo, and Josh Rickmar in 2016 who have also developed Btcsuite, a full node implementation of Bitcoin in Go language. They were aware of the problems faced by Bitcoin and they started developing their own decentralized project by fixing some problems.
Breakdown of Decred (DCR)
According to CoinMarketCap, Decred has a Market capital of $328,335,841 USD as of 14 October, 2018 and it was highest ever traded at $38.01. This is based on a circulating supply of 8,637,692 DCR out of the Total supply of 21,000,000 DCR. DCR was highest ever traded at $125.58 on January 12, 2018.
Mining Decred –The process of Decred Mining is determined by the consensus rules of the currency. Decred uses both algorithm PoW and PoS. Proof-of-Work requires computational power to solve cryptographic hashes and for each solution, a block is created. To earn with PoS or proof-of-stake algorithm you will need to store away your coins for some point in time.
Here is the guide to mine Decred with CPU – Click here
What is a Decred Faucet?
A Decred faucet is a rewarding system in form of a website or an application which dispenses rewards in DCR for completing some certain tasks such as Watching videos, referring friends, playing games and completing surveys.
Some questions regarding Decred Faucets –
How these Faucets are profitable?
These faucets generate a high amount of traffic from and they monetize their website through Advertising such as CPM and CPC basis. Revenue generated from the website is distributed in all the users and hosting charges are also paid.
Who developed the first faucet?
The first Bitcoin faucet was developed by Gavin Andreson in 2010 which used to dispense 10 BTC per user.
Where these rewards get stored and what is the limit of earning?
These generated rewards are in small fractions which cannot be stored in a normal wallet such as hardware and software. These earnings require a micro-wallet to be stored and to be filled until a greater amount is collected. The amount is then automatically transferred to the specified address by users. There are no limits for earning but some websites which use to giveaway every 60 minutes are limited.
List some of the Best Decred (DCR) faucets?
Here are some of the legit Decred faucets over the web-
- DecredFaucete.info – This site is giving away free Decred coins. You can receive free DCR coins every 60 minutes all you have to do is enter your DCR address and solve the captcha.
- LuckyGames.io– Play games and make money. You can make money with Lucky DICE game where there will be options given to you to choose from 1 to 98. The DICE will start moving automatically and choose the lucky winner.
- CasinoRoyale – Every 3 minute you will be provided 0.00004DCR to play Casino Royale.