How does Decred work?

As a curious investor in the realm of cryptocurrency and finance, I'm keen to understand the workings of Decred in more depth. Could you elaborate on how the Decred network functions? Specifically, I'm interested in how its consensus mechanism, Proof-of-Work and Proof-of-Stake hybrid, operates to ensure the security and stability of the blockchain. Additionally, I'd like to know how the governance system, which allows stakeholders to vote on critical network changes, enhances decentralization and transparency. A high-level explanation of these components would be greatly appreciated.