Decred, new digital currency to challenge Bitcoin

Under Company 0 LLC, the firm will focus on governance and sustainable development.

US.- A group of Bitcoin’s developers have left the project to built Decred, a new digital currency. As stated on their website, “Decred is an open and progressive cryptocurrency with a system of community-based governance integrated into its blockchain. The fusion of technology, community, and governance the Decred way means development is self-funding and remains sustainable.”

In a press release, Decred developer Christina Jepson explained that their goal is to address the issues of governance and development funding that Bitcoin faces today. “The intention is not to attack what we currently have in Bitcoin, we want to recognize what has been done well, but instead we want to take that and improve on what we think can be done better. Alternatives are progress and a way forward to improve the greater ecosystem,” she stated.

Jacob Yocom-Piatt, CEO of the new firm Company 0, said: “The Bitcoin software is controlled by a small group of people who decide exclusively what can and cannot be changed. This is in part due to a lack of mechanisms and pathways for funding development work directly from the community, and as a result Bitcoin development is funded by external entities that create conflicts of interest between the developers and the representative power of the community that uses Bitcoin. We want to change that.”