Electra Protocol is the world’s fastest decentralized blockchain. Transactions are usually performed with 1-2 seconds, sometimes even faster. Further improvements are on the way to significantly improve the transaction speed, for example by releasing validator nodes. The transaction time always depends on which wallet or service you use.
How fast is a transaction using Electra Protocol?
Fastest Transactions Using the XEP Desktop Wallet
When both parties involved in a XEP transaction use a XEP Desktop Wallet, the speed is near realtime. The reason is that XEP Desktop Wallets have access to a full blockchain copy, and as a result they are able to conduct transactions instantly.
Transactions Using the XEP Mobile Wallet
When one party involved in a XEP transaction is using a XEP Mobile Wallet, the transaction usually takes a few seconds. The reason for this is that the XEP Mobile Wallet is not having access to a local blockchain copy – it has to relay to a remote service.
Transactions Using an Exchange
When you use an exchange provider (such as MEXC Global, AscendEX, Graviex, etc.) the transactions are usually carried out within 1 or 2 minutes. In rare situations the transaction time can even significantly exceed this time, ie. in case of systems maintenance or unexpected technical issues on the side of the exchange provider.
The reason is that exchanges to not perform transactions immediately when you execute them. This means that transaction are queued for processing and only when the backend of an exchange provider is ready to conduct a transaction, it will finally use the Electra Protocol blockchain for execution.
The speed of a transaction from an exchange to XEP Wallet transaction is entirely related to the processing speed of the respective exchange. Once a transaction is posted by the exchange to the Electra Protocol blockchain, it is executed in near realtime.
Victor Perch
I have tried so far 100+ wallets in the blockchain space and XEP is extremely the fastest with its synchronisation time so far. I have never seen a project like this before.
Michael Wutzke
When I discovered Electra Protocol I immediately felt that this blockchain ecosystem is a hidden gem. Fast, cheap, scalable, and decentralized. Simply amazing!
Supremacy
The most stunning feature for me will be the combination of the ultrafast transactions with the upcoming smart contracts platform compatible to the EVM.
XEP means near realtime payments! You can currently perform payments using any provided XEP Wallet. Later 3rd party solutions, such as provided by Evoblox, will enable payments in online shops, in physical stores, and elsewhere – without the user necessarily noticing that transactions are carried out over blockchain technology.
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