Decred's project lead explains how to extend public blockchains (the right way)

Leo Zhang

By Leo Zhang

Technical & Updates

Decred project lead Jake answers the community's questions in a Reddit AMA thread. You can read about what Decred is and its governance model in this article, and find its 2018 roadmap here. On April 2nd Iterative Capital will host a meetup in New York to discuss blockchain governance. The event can be found here.

How is Decred best positioned versus other blockchain projects?

"I am of the view that it is best to focus on making Decred a superior store of value prior to focusing on its transactional aspects. We have already decentralized the process for making consensus changes, and we will continue in this vein by decentralizing the rest of the project-level decision making, which includes control of the dev org funds."

In Politeia voting system, how does the team think about "ignorant votes" that are potentially dangerous to the project?

"I do not subscribe to the belief that only people with deep technical knowledge have the capacity to make good decisions. Not every decision made by the stakeholders will be the best decision, so be ready for that when this goes live. Decred has the ability to make changes and also undo those changes, if necessary."

Is the tech behind Lightning Network mature enough yet? How does Decred plan to implement it?

"The perception of complexity is based on the fact that smart contracts are really a new domain, and they are not very well understood. If you take the time to go through the LN paper, the concepts are simple, e.g. attribution/blame, time ordering and remedy of breaches, but the implementation seems complex because of the failure modes that need to be handled."

Does Decred plan to launch SPV? Is it one of the priorities in the development?

"Our 1.2.0 release and release candidates will include the consensus daemon (dcrd) component of the compact filter support, so we can introduce the wallet component in the next release (1.3.0). SPV support is being testing currently and the bugs are being worked out. dcrwallet and decrediton will both support SPV by the 1.3.0 release."

How does the team think about the various privacy technologies used in other cryptocurrencies?

"CT and bulletproofs are a nice approach to privacy since they don't veer too far away from the infrastructure we already have. I am not a fan of sidechains since handling the mining aspects is messy and there is limited incentive for other devs to innovate with them. Dynamic blocksizes are interesting since they allow for avoidance of an episodic blocksize debate."

How does Decred plan to implement privacy feature?

"We will have a substantive update on the privacy front in the near future. Our approach will be different from other projects and I will give an explanation of where we will be going from the initial release as part of the release."

Decred is ready for mass adoption. How does the team plan to promote?

"We are steadily beefing up our marketing group, so we will likely see developments on this front later in 2018. 'Crossing the chasm' is hard and takes a lot of work, so we'll see what happens soon enough."

How does Decred manages treasury, and how will the project exercise the discretion of financial planning after becoming a DAO?

"The infrastructure we are building for the DAO (consensus voting, Politeia and decentralized control of funds) makes the centralized roles of C-level officers less relevant. I am not keen on the idea of having appointed or elected officials that direct entire segments of the project."

What is the best protection against clones in open-source world?

"If your repositories are active, it is challenging for competitors to take your work since they have to sync from your repos regularly to keep up. A certain amount of cloning is inevitable when your project is successful."

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