Who is behind Electra Protocol?

Electra Protocol is an open-source and crowdsourced blockchain ecosystem aiming to revolutionize many payment-related use cases, such as providing instant multicurrency payments at near zero cost. The blockchain was created at the end of December 2020 and is entirely created and managed by a large community of participants. Unlike almost all crypto projects, Electra Protocol did not conduct any form of funding through initial coin offering, initial dex offering, or initial exchange offering.

Thousands of people contributed to Electra Protocol since its original inception. Today, Electra Protocol is coordinated by contributors from many countries, such as the Netherlands, South Africa, India, Germany, Turkey, USA, Canada, UAE, and more. To keep in contact with the community, the team utilizes various social media applications, including Twitter, Telegram, Discord, and Medium. At any time, day or night, users can find a team member online to communicate with in regards to the project or to answer any questions you may have.

The Electra Protocol core team holds weekly online meetings to discuss ongoing developments and weekly planning. The team also prepared progress reports regularly for the information of the community of 3rd party partners. The Global Coordinator of Electra Protocol is Aykut Baybas.

Electra Foundation and Evoblox

To better serve the needs of the community, the not-for-profit Electra Foundation was created in 2021. The foundation is the caretaker of the premines issued for Electra Protocol community, and it supports the development, marketing, and adoption of the Electra Protocol blockchain and its ecosystem.

While the Electra Protocol is an independent, open-source, permissionless and decentralized blockchain environment, the Electra Foundation is responsible for publishing information to support the platform, such as websites, software, and repositories.

Additionally, also Evoblox was created in 2021. The startup is run by some core team members and wants to build solutions using Electra Protocol and at the same time support the Electra Protocol project with resources to enhance its ecosystem.

Passing the Howey Test

Electra Protocol (just like bitcoin) has never sought public funds to develop its technology, which means they do not pass the Howey Test used by the U.S. Securities and Exchange Commission (SEC) to classify securities. This means that any cryptoproject, except Bitcoin and Electra Protocol, could face regulation by the SEC and possibly also in other countries.