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Decred in Cake Wallet

Official Website: decred.org

Decred (DCR) is a blockchain-based cryptocurrency with a strong focus on community input, open governance, and sustainable funding for development. It utilizes a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining system to ensure that a small group cannot dominate the flow of transactions or make changes to Decred without the input of the community. A unit of the currency is called a decred (DCR).

Stakeholders make and enforce the blockchain's consensus rules, set a course for future development, and decide how the project's treasury is used to fund it. Decred's blockchain is similar to Bitcoin's, but with major aspects of governance baked into the protocol.

To align incentives, block rewards are split between Proof-of-Work (PoW) miners, stakeholders and the Decred Treasury, which funds the project.

Seed Format

Cake Wallet uses a 15-word seed format for Decred wallets. When creating or restoring a wallet, you'll need to use this 15-word seed phrase. There is no seed-length choice and no seed-passphrase option for Decred.

Addresses

Cake automatically generates a new Decred address after each use for better privacy. Previous addresses continue to work.

Cake Wallet documentation illustration: Decred (DCR) in Cake Wallet — Decred receive screen in Cake Wallet

Fees

Decred network fees are paid in DCR. Cake Wallet offers three fee levels:

Slow: Cheaper but may take longer to confirm.
Medium: Recommended for most transactions, and the default. Balanced speed and cost.
Fast: Expensive but confirms quickly.

There is no Custom fee option for Decred — that is Bitcoin-only. Decred fees are typically very low.

Coin control

Decred supports coin control, which lets you choose exactly which coins (unspent outputs) you spend in a transaction. This gives you finer control over your privacy and your fees.

SPV Sync

The Decred wallet in Cake uses SPV (Simplified Payment Verification), which gives you strong privacy without downloading the entire blockchain: the wallet only downloads the blocks it has transactions in, and no server ever learns which transactions are yours.

Syncing this way uses more data and time than a typical light wallet, where servers check for your transactions on your behalf — but that convenience comes at a real privacy cost, which SPV avoids.

For more detailed info on how SPV sync works, please refer to the official Decred documentation.