Electra Protocol is a scalable, permissionless, and decentralized ecosystem for transactions. It was launched in January 2021 and it will be perfect for NFT solutions with the release of its smart contracts platform.
Ethereum Alternative for NFT
Upcoming Rival for Ethereum NFT Solutions:
NFTs are Popular | Drawbacks of Ethereum | The Solution: Electra Protocol
Electra Protocol is creating credibly neutral public blockchain infrastructure. The combination of instant transactions at almost zero cost make Electra Protocol an outstanding choice for upcoming solutions using its smart contracts platform. This will allow anyone to create own solutions and tokens on the Electra Protocol blockchain. The native coin XEP is used for all performed transactions and all transaction fees are burnt. Thanks to atomic swaps, users will not just be able to pay using XEP, but in any supported cryptocurrency. Upcoming solutions by using Electra Protocol, for example provided by Evoblox, may include fiat payments over crypto, fully compliant to KYC and AML requirements.
NFTs are Popular
At a very high level, most NFTs have been part of the Ethereum blockchain. NFTs can really be any digital representation of ownership (such as drawings and music).
A lot of the current excitement is especially around using NFTs to offer and digital art. Artists, and normal people alike, create artwork and offer it on an NFT marketplace like OpenSea. Here, people from all over the world can buy an NFT for ETH or any other supported cryptocurrency.
With the release of the upcoming NFT functionality of Electra Protocol, users will be able to not only perform transactions using XEP, but also using other supported cryptocurrencies.
Drawbacks of Ethereum
The fun of the users trading non-fungible tokens have been challenged by technical drawbacks of Ethereum and other NFT platforms. Existing NFT blockchain prototocols have slow transactions, high costs, no identity functionality. Sometimes users have to pay gas fees as high as US $100 per transaction!
Ethereum was built in 2014 and has many features which are outdated today. Electra Protocol was officially launched in 2021 and will solve many shortcomings of Ethereum and other NFT protocols.
The Solution: Electra Protocol
Electra Protocol was built to be the perfect compromise between decentralization, scalability, and security. Perfect for NFT solutions!
Electra Protocol will comine instant transactions, near zero gas fees on its own environmental-friendly blockchain, which offers staking rewards and which will also feature multicurrency transactions and smart contracts! The solution everyone is desperately waiting for since years will finally arrive.
Understand
Support
Proud Member of
Electrafying the world.
