Decred (DCR) is a cryptocurrency based on the blockchain that was introduced in February 2016. The Decred token and protocol were designed to make open governance, and long-term financing plans easier to implement.
Decred was designed as a hybrid consensus method that combines elements of both Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms, with PoW miners confirming transactions and PoS stakers proposing and voting on network enhancements.
Lightning Network is also being implemented by Decred. In essence, Lightning Network is an off-blockchain payment settlement system that reduces network requirements and processing times.
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