Decred
Official Website: decred.org
Due to how much data the Decred wallet requires, it will make your Cake wallet backup very large, and in some cases can cause the backup creation to fail.
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.
Decred's 15-word seed is not a BIP39 seed, so Decred wallets cannot join a wallet group and cannot share a seed with your other Cake Wallet currencies.
Addresses
Cake automatically generates a new Decred address after each use for better privacy. Previous addresses continue to work.
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.
SPV sync requires an initial synchronization when the wallet is created, which may use a lot of data. Make sure you are not on a metered network before starting.
For more detailed info on how SPV sync works, please refer to the official Decred documentation.