During a bearish market the problems that cryptocurrency projects face become obvious. Chávez, from LatAm Project Development, explains how Decred continues to develop during this kind of situation.
Ana Dalia Chávez states that during a bearish market problems grow or emerge, adding great stress to the communities and teams that work or collaborate on its development. Currently, millions of users operate with and exchange cryptocurrencies, but they expect the functionalities that are still under development or exist as an idea to become a reality.
The community builder added that in decentralized communities certain developments, ideas or activities seem to be of greater value or urgency than others, conflict emerges, and the difficulty to make decisions becomes chaotic. This is the reason why it is important to have a governance model that allows consensus between the different individuals participating in a community.
Chávez considers that consensus is probably more important during a crisis. She explained that having it implies putting all the resources and efforts into execution.
Governance Platform Politeia
In this context, she stated that Decred is an adaptable cryptocurrency and that it is possible to solve conflicts through voting, thanks to the governance system included in its protocol.
She said that users must take a series of steps to make on-chain and off-chain decisions. In Decred, the community makes decisions related to the projects through Politeia, where they publish, discuss and vote for the proposals.
She also said that, despite the crisis over the COVID-19 disease, governance in Decred is red-hot. She mentioned that there are two proposals under discussion and two more under voting, all of which are receiving great attention and comments from the community.
The community focuses on improving and refining the proposals that will receive funding from the Treasury, through feedback to adjust them to the current crisis. Politeia is where the members of the community record and legitimate their points of view, all of which remain anchored to the Decred blockchain.
Sample Proposals
For example, in a proposal for marketing in the USA, and antagonistic stakeholder stated that 2020 has not yet shown any signs to be a good year for cryptocurrencies in general. He said that this is due to the macro situation, which seems to indicate that the end of the bearish market is still far away. The community considers that making any effort in this regard is a waste of time to
On the other hand, a stakeholder in favor explained that marketing continues to be a key contribution to the price and the performance of the project. Regardless of the current market situation, that member believes that Decred is still in too early stages to dispense marketing costs.
Previous proposals that have undergone a similar process and have received approval are now providing the necessary funding to continue with the development of ambitious projects. Among these are a Decentralized Exchange (DeX), the scalability of transactions on the Lightning Network, and the increase in privacy through CoinShuffle..
From its beginning, the design of Decred aimed to face any crisis or unexpected event. This adaptability, apart from its security and sustainability, make Decred an important reserve of value, according to Chávez.
By Alexander Salazar
