Episode 193

Decred – A Hybrid Approach to Blockchain Governance

Dave Collins Jake Yocom Piatt
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Dave Collins and Jake Yocom-Piatt join us to talk about Decred, a cryptocurrency which introduces an innovative system of community-based governance into its blockchain. Decred implements a hybrid Proof of Work and Proof of Stake system in which miners validate transactions, while users can vote on new features and upgrades to the protocol. This clever approach enables efficient blockchain governance, which has demonstrated to be successful in a recent protocol upgrade on the live network.

Topics discussed in the episode

  • Dave and Jake’s respective backgrounds in the blockchain space
  • The challenges addressed by Decred, specifically regarding blockchain governance
  • Decred’s hybrid Proof of Work/Proof of Stake approach to governance
  • How users of the network vote on protocol upgrade with “”tickets””
  • Possible downfalls and attack vectors to this approach
  • How Decred’s governance model successfully implemented a hard fork on the production network
  • Decred’s approach to development funding

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