Today, October 16, Decred is set to launch Politeia software, building on existing company approach of combining proof-of-work and proof-of-stake consensus trying to transfer all governance decisions on the management of those who are actively involved in the functioning of the protocol during any given decision.
Decred Project Lead Jake Yocom-Piatt confirmed the launch of Politeia, but noted that:
"It is important to understand that Politeia is a very powerful tool: it can enable all manner of positive developments for Decred, but if used unwisely, it can lead to a wide variety of problems."
Decred token holders currently stake the coins in exchange for the opportunity to be chosen to verify blocks. If they verify block, they get a payment from that block's token emission. Once Politeia starts, people who are waiting for their turn when checking the block will also be able to vote on Politeia’s proposals.
Politeia strives to give cryptocurrency owners the ability to control every aspect of the project and puts Decred treasury under the users' control. Currently, this treasury has 570,000 DCR, which cost about $21 million. The treasury is funded by part of the new coins issued with each block, so it is constantly increasing.
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