Decred cryptocurrency (DCR) uses a hybrid consensus system. This allows not only miners, but also money holders to participate in the project. The creators focused on increasing the speed of payment confirmation, the ability to scale transactions, privacy and providing conditions for “smart” contracts.
The peculiarity of the system is that Decred mining combines two algorithms - PoW and PoS. The first involves generating income for using the power of a video card or processor to process transactions. The second gives you the opportunity to earn money without expensive equipment. They receive interest on the amount in their accounts.
The successful project was able to interest users, and the coin entered the top ten most popular ones.
Decred Mining Difficulty Calculator
DCR uses the BLAKE256 algorithm, so to calculate the profitability of upcoming mining, you need to use an online calculator that allows you to determine the performance of a video card using Blake. Having received data on hashrate, electricity consumption and approximate profitability, you can begin selecting equipment for “drilling” Decred.
Another option for mining Decred is associated with dual mining. The power of the GPUs is directed to “drill” Ethereum, and the central one is directed to the DCR. This will allow you to make fuller use of the equipment's capabilities.
Verified Ether Exchangers
The table contains a list of exchangers where you can exchange rubles for Ethereum (ETH Etherium) using a card or Sberbank online
| Exchanger | Age | Reviews | A country |
| 60sec | 2 year 7 months | 463 | Russia |
| Xchange | 1 year 6 months | 233 | Russia |
| X-pay | 2 yearf 7 months | 340 | Russia |
| Baksman | 2 years 4 months | 256 | Russia |
| 24paybank | 2 years | 340 | Russia |
| Prostocash | 3 years 1 month | 133 | Russia |
| Bankcomat | 1 year 6 months | 758 | Russia |
| Ychanger.net | 4 years 8 months | 3584 | Russia |
| Magneticexchange | 1 year 9 months | 459 | Russia |
| Kassa | 1 year 7 months | 1509 | Russia |
| A-exchange | 4 years 9 months | 3246 | Russia |
| Rubitok | 3 years and 4 months | 503 | Russia |
Relevance of data as of 01/15/2018
The presented exchangers also offer exchange of Ethereum for currencies:
- Qiwi
- PayPal
- Payeer
- From phone balance
- Alfa Bank
- Tinkoff
- VTB 24
- Other banks
- Visa card
- MasterCard
How to store and withdraw Decred
A prerequisite for working with DCR is to create a Decred wallet. The developers suggest using:
- "Thick" Decrediton client application. It is downloaded from the official website, and a copy of the Decred blockchain is installed on your hard drive. The security of the desktop wallet is maintained by using a private key;
- Web wallet. Creating Copay With Decred requires the use of a mnemonic phrase;
- Hardware wallets.
The developers offer advanced users to use an option such as dcrwallet. Dcrwallet. Using the command line in the wallet, it becomes possible to receive rewards for:
- Staking;
- Participation in a system where a hybrid PoW/PoS consensus operates.
You can also use a crypto exchange account to store Decred. This option is more acceptable for traders and investors entering into long- and medium-term contracts.
Ordinary owners of tokens, if they need to change them, use the services of online cryptocurrency exchangers. Having tried the services of different resources, as a rule, they make a choice in favor of one:
- Convenient. If the site interface is comfortable to use, and logical transitions are carried out intuitively, then you can come to terms with minor shortcomings;
- With a large volume of daily trading, maintained for quite a long time. This is irrefutable evidence that customers highly value this service;
- Having earned a reputation over a long period of work. Checking how truthful the responses on the site is is not so difficult. Just look at the posting dates (custom ones appear almost simultaneously) and look at third-party thematic resources to be sure;
- Allowing you to find different tokens for exchange, use popular bank cards and electronic payment system accounts when making transactions;
- Supporting a multi-level affiliate program. By participating in the “affiliate program”, you are guaranteed to receive royalties from the service for each token purchase made by the clients you attract.
You register on the matbea.com exchange service and the task of creating a cryptocurrency wallet is automatically solved for you. An additional bonus is interest-free Decred transfers between Matbi wallets.
Create a wallet
Where can I buy?
The best option is the exchange. Decred cryptocurrency is traded on many popular platforms. The leader with a daily trading volume of over $6 million is OOOBTC. Here Decred is traded in pairs with Bitcoin.
If we talk about more popular platforms, we should highlight Poloniex, Bittrex, UpBit. Decred is traded in pairs with cryptocurrencies. An exception is the presence of a DCR/KRW pair.
Decred mining algorithm
DCR is a bold and successful attempt to combine the mining protocols - PoW and PoS. For this purpose, the coin emission was distributed so that 10% is allocated to the development of the project, and the rest to support PoW and PoS mining in a ratio of 2:1.
It is generally accepted that Decred staking is not as profitable as “drilling” cryptocurrency. However, the degree of risk in this type of operation is much lower. After all, if the exchange rate falls, which makes “drilling” not worth the cost of equipment, it will be possible to compensate for the losses only partially. And the owner of the share can either wait out the unfavorable period, or sell the tokens in a timely manner.
When mining Decred, you must also take into account the peculiarity of the project’s anti-inflationary policy. The reward for generating a block is reduced by 1% every three weeks.
If you are going to mine, make not only an optimistic forecast of the Decred rate. Consider more pessimistic scenarios. Do not forget that once every 21 days, the reward for miners is reduced by 1%. Over the course of a year, this will amount to a significant amount.
Technical features of the Decree
The consensus system uses a decentralized lottery principle to assign POS miners to vote for PoW blocks. The distribution of subsidies for PoS and PoW occurs in the ratio of 30% and 60% respectively. Decentralized distributed mining of shares allows even participants with a small number of shares to participate in confirmation.
The technical device, in addition, is distinguished by the following parameters:
- The Blake-256 hash algorithm in PoW mining provides a high level of security without loss of speed;
- In immutable transaction IDs (transaction hashes), transaction signatures are separated from the rest of the transaction data. Correction of the transaction hash is implemented in a similar way;
- The Schnorr signature mechanism (with threshold n-of-n support) allows groups of signers to certify off-chain transactions with their constant size signatures jointly. This reduces the load on the blockchain and provides increased privacy.
At the time of launch, the crypto network was immediately conceived as a system compatible with Bitcoin transaction scripts, including their possible updates in the future. Backward compatibility was also planned from the beginning.
How to mine on a computer
If you are going to mine on your home PC, realistically assess your capabilities. Only professionals using the latest equipment now dare to drill solo. The romantic era in the field of cryptocurrency circulation was short-lived. Industrial mining now firmly reigns, with users joining forces in huge pools.
Decred mining programs
The project suggests using officially recommended software for Decred mining. You can install both AMD and NVIDIA video cards to run gominer. Miners who have already gained some experience with different cryptocurrencies use the following products:
- third party developers, sgminer and ccminer. They are suitable for AMD or NVIDIA GPUs respectively;
- Claymore, which allows you to simultaneously mine ETH and DCR using dual mining mode.
CPU Mining
Mining on a processor is possible only for a few cryptocurrencies. If you want to make a profit in Decred, then the CPU power can be used for drilling this token. But exclusively within the framework of dual mining, as in addition to Ethereum mining. So that computing power, even if relatively insignificant, does not run idle. Claymore’s software will use the resources that were not needed to calculate ETH hashes to “drill” DCR.
Mining Decred on a video card
With regard to DCR, mining on video cards is recognized as the most profitable direction. It is rational to build a farm on 4–8 GPUs to achieve maximum output from the equipment. How profitable such investments will be is calculated using mining calculators.
It doesn't hurt to take into account the dual nature of Decred's consensus algorithms. Even if drilling another cryptocurrency allows you to recoup costs faster, we must not forget that the resulting DCR will immediately begin to generate profit through staking.
Mining in the browser
Browser mining Decred, which involves just leaving a tab of a special site open, will not bring much profit. The performance of this method is an order of magnitude lower than when using special software. But computer resources are consumed with much less intensity, and some “drilling” experience can be gained.
When choosing sites, it is recommended to be careful and check whether they can be trusted. The reason is not only that you will not be paid your honestly earned tokens. It is very likely that the site is secretly using “pirated” browser mining, which will manifest itself in slowing down the operation of your equipment. It may not be very noticeable, but it’s worth checking.
And to “drill” in this way, you will have to disable your ad blocker.
Classic (PoW)
You will need hardware (ASIC) and a pool. Effective Decred mining on CPUs (processors) and GPUs (video cards) is no longer possible today; only ASICs have sufficient resources.
You can purchase hardware, for example from Bitmain, and receive ready-made software and a set of instructions from the company for pure Decred mining.
Mining pools
Solo “drilling” of DCR, like other popular cryptocurrencies, is practically not used. It is much safer and easier to join mining pools to consistently make a profit.
You definitely need to clarify what software you will need to install when joining the miner pool.
Decred developers provide official recommendations on which pools you should join to engage in:
- Mining;
- Staking. It is curious that the recommended list of pools for receiving passive income is much wider than for active income.
The possibilities of earning money on Decred as part of pools and independently are not limited to these two methods. DCR is also suitable for:
- Trading on crypto exchanges;
- Investments;
- Games based on exchange rate fluctuations;
- Landing page. Find a project that is interested in attracting Decred and allow you to block coins for a certain period at a guaranteed percentage.
To receive passive income, you can register on the website of the Matbi cryptocurrency exchanger and join the affiliate program operating here. Referrals will bring you up to 0.5% of the amount of cryptocurrency purchases.
Create a wallet
Create an official wallet
Using the official repository is quite simple:
- open the project website (decred.org);
- check the box under the agreement with the terms of service;
- click “Continue”;
After this, you will become the owner of an ID-wallet. To be able to recover, you need to obtain a backup phrase. To do this, log into your personal account and follow these steps:
- click on the gear icon in the upper right corner;
- select “Backup”;
- copy the code phrase onto paper (preferably in several copies);
- click “Continue”;
- Enter the code words in the fields.
Decred faucets
Cryptocurrency faucets are a reliable source where you can get some coins without much difficulty. Decred can be earned in this way on some multi-currency faucets. This is clearly not worth considering as a way to earn money, but it will be enough for small expenses. At the same time, you gain some experience in handling a cryptocurrency wallet and form an understanding of the features of cryptocurrency circulation.
In principle, you can’t count on free DCR distributions. This is a characteristic feature of this project. Even the developers had to pay for tokens (albeit at a special rate) or receive them as payment for work done (at the same rate, $0.49). Only 4% of the issue was allocated for the airdrop; registration of participants (not everyone was allowed in) was completed by January 2016.
Decred is not given away for free, which means they are willing to pay for it. There is demand for the token; the project’s prospects have not been exhausted.
Online DCR course chart
The chart shows the Decred rate against the Russian ruble and the US dollar:
Like other cryptocurrencies, DCR was unable to withstand the global market correction and lost ground. In January 2022, the Decred rate was 129 USD, but already in February a downward trend began, which continues to this day.
Despite the numbers, analysts give good forecasts for the project. The PoW algorithm together with the PoS mechanism provide a balanced technology, due to which the project is in demand.
List of cloud miners
Recently, the issue of making money in cloud mining . Cloud mining is the easiest and safest way to earn ether.
Judge for yourself, without large investments you enter into a long-term contract for cloud mining of Ethereum, receiving your dividends, you pay part of the funds for the maintenance and technical support of the equipment.
Most services promise from 2 to 10% income daily. The money is colossal; if you translate it into an annual budget, it turns out to be about 200, or even more percent of the invested funds. We present to you the top services for cloud mining of Ethereum.
HashFlare – The service provides the ability to mine Ether and Bitcoin. Minimum tariffs under the terms of contracts for the year . By calculating profitability you can get good results.
The Russian-language service has a user-friendly interface and adequate technical support. There were no problems, no complaints about the service, payments from 0.07 ether (with a minimum investment accumulated in 7 days).
Nicehash.com – The third most popular resource. Here you can either buy capacity and make money on it, or sell your own capacity.
GenesisMining – A well-known service offering cloud mining of Bitcoin and other advanced cryptocurrencies. Daily payments. Exclusive discount - when ordering capacity, enter the promo code HaiqzZ and pay a significant 3% less. Capacity is being sold out very quickly.
Read more in the article: What is Cloud Mining
To receive virtual coins you need to buy the following equipment:
- CPU;
- Video card (several cards are used simultaneously);
- Power supply unit;
- Motherboard;
- Cooling system;
- Hard drive with large memory capacity;
- Riser extension cables (required to connect a group of video cards).
If desired, you can use ready-made ASIC miners or farms.
Popular manufacturers of mining equipment include:
- Video cards - Nvidia, ATI, AFOX, ASUS, GIGABYTE, MS, Palit, Sapph.
- Motherboards - ASRock, ASUS, BIOSTAR, GIGABYTE, MSI.
- Processors - Athlon, Intel Pentium, Ryzen, Intel Celeron3, Intel Core i33, AMD FX and others.
- Power supplies - Chieftec, Dell, DeepCool, FrimeCom, GreenVision.
- Hard drives - Golden Memory, Intel, Samsung, Kingston, Leven, PQI.
Before choosing equipment, consider the following:
- Video card performance is not the main parameter. It is worth paying attention to the price of the product, reliability and amount of electricity consumed. Miners usually use ATI Radeon or Nvidia video cards.
- For farm reliability, it is recommended to use a good power supply with a power of 1.2 kW or more.
- The motherboard must have a sufficient number of PCI slots to install video cards. If there are many GPUs, special racks are created for them and fans are installed to ensure efficient cooling.
- The best solution is to use solid-state hard drives such as SSDs.
These devices are distinguished by the fact that they have no moving elements. As for the required volume, it depends on the type of mining. If you plan to independently mine cryptocurrency by downloading the blockchain to a PC, you will need a larger disk. If you are going to work in a pool, a smaller capacity SSD will do.
In the selection process, it is important to compare mining components, their capabilities and characteristics. Preference should be given to products from well-known manufacturers, mentioned above. The best place to install equipment is a warehouse, office space or garage. The room used must be dry and have sufficient area to accommodate racks and equipment.
As noted, ready-made solutions can be used to mine cryptocurrencies. Let's highlight the most powerful mining equipment for today:
- Avalon 4.1-4.2T. The cost is about 16 thousand dollars, the production speed is about 4 Gigahash per second.
- Avalon 6.0. The cost is almost 12 thousand dollars. Speed - 3.5 Gigahash per second.
- S9 Antminer. Price about 1.2 thousand dollars. Speed - 13 Gigahash per second.
Which equipment to choose?
To start mining Ethereum, you should check the characteristics on your home computer:
- Video card. To mine Ethereum, you need the best and most expensive video cards (1070/1080/1080 ti). It is advisable to need not one video card, but several
- Operating system. I would like to clarify that for Ethereum mining you will need Windows x64, unfortunately x32 is not suitable for these purposes
- RAM. You should immediately take a computer with more than 8 GB of RAM and also a 4 GB video card. Considering that you have Linux, you can also take a 2 GB video card
- Power. It is advisable that the power of your computer be at least 15 Mh\s
- Internet. There is no particular difference in Internet speed. 3-4 MB per second will be enough. The more important part is the ping, accordingly, the lower the ping, the better
- Monitor. It is possible to work without a monitor; if you don’t have one, use a monitor emulator.
Major changes and innovations in Claymore 2.0:
- Added Stratum support for Decred.
- Added option “ -esm 2 ” for the miner-proxy version of Stratum - for such pools as: coinotron, coinmine, etc.
- The default value of the " -dbg " option is now " 0 ", a log file is created automatically. You can disable log file updating using the " -dbg -1 " option.
- If one of the GPU threads is frozen and the hashrate is not updated, the miner shows zero speed for this GPU.
- -wd " and " -r options .
- Additional check of DAG files: checking free disk space, removing damaged DAG files.
- Other minor errors and bugs have been fixed.
