Electra Protocol is a scalable, permissionless, and decentralized ecosystem for transactions. Made to be perfect for payments of all kinds, it will be a highly useful platform for creators and their end users.
Blockchain Facts Network
Creating a Multicurrency Financial Ecosystem:
Key Reasons | Network Strength | Crowdsourced | Technical Facts
The world's fastest decentralized blockchain.
Key Reasons USEFULNESS
Electra Protocol is the world’s fastest decentralized blockchain and has one of the most robust, secure, and decentralized setups. Usually up to 1,000 nodes keep the network running. Transactions can be performed at a fraction of cost compared to any other protocol which claims to have low fees.
Electra Protocol Today
- Send XEP payments within 1-2 seconds worldwide.
- Virtually no transaction cost when performing payments.
- Receive rewards for staking XEP coins.
Upcoming Solutions
- Perform payments using supported cryptocurrencies.
- Execute payments using fiat currencies without exchange fees.
- Make sure that requirements concerning KYC and AML are met.
Mainnet: LIVE
Blockchain: Electra Protocol
Launch: January 1, 2021
Native Currency: XEP
Launch: January 1, 2021
Native Currency: XEP
Network Strength ROBUST
The blockchain uses an innovative proof-of-stake v3.0e consensus mechanism. Its main technical specs are sending of transactions in 1-2 seconds, a block time of 80 seconds, and a difficulty re-target in every generated block.
Rock-Solid Architecture
Up to 1,000 nodes are connected to the Electra Protocol permissionless network, making it a solid blockchain platform. The blockchain is today able to handle more than 1,500 transactions per second natively. This capacity is sufficient for the expected market demand short term.
The engineers have also incorporated Lightning Network (LN) support that can be activated in the future. Lightning Network is layer-2 scaling solution, which can be used by Electra Protocol in the long term once the time is right. The Lightning Network allows transactions of millions per second.
Crowdsourced OPEN-SOURCE
Just like Bitcoin, Electra Protocol is supported by a large number of volunteering people who improve, develop, and manage all parts of the ecosystem. This means you can actually take part in shaping this innovative instant payments platform.
Building Solutions, Not Hype
The majority of crypto projects wants to build open-source, fully decentralized, and independent solutions. Often the reality is: Funds are raised, many early investors cash out, and investments are used for making you believe that they are working on the next big thing.
Electra Protocol is a 100% crowdsourced blockchain project. Electra Protocol is supported by thousands of volunteers and the project did not acquire any sorts of external funding. The blockchain ecosystem is entirely built by people who want to solve major problems in the fields of payments. We’re here to create programmable money which does not necessarily need a bank account. Say goodbye to high fees!
Technical Facts LEADING
Electra Protocol runs on its own enhanced proof-of-stake blockchain, is permissionless and fully decentralized. The payments ecosystem offers safe transaction options, and is built upon the secure SHA-256 algorithm.
- Consensus Proof-of-stake v3.0e
- Encryption SHA-256
- Coin Ticker XEP
- Transactions per second More than 1,500
- Block Time 80 seconds
- Block Size 10 MB
- Coin Maturity 12 hours
- Electronic payments Implemented.
- Atomic swaps Implemented, but to be launched.
- Lightning Network support Partly implemented, launched later.
Not Just Technology Will Decide Over Success
The usefulness of a solution is derived from its value to solve problems. Technology is just a tool to achieve something. As a result, technical metrics are just secondary to problem-solving capabilities and adoption.
One of the most yet unsolved problems of the world are payments, which are often expensive or slow. Nowdays the payments ecosystem is controlled by intermediaries which can now be replaced by blockchain technology. But also people who don’t have access to traditional finance will benefit. Although hundreads of millions of people don’t even have a bank account, they have a smartphone!
What the world really needs is simple: Instant money at almost zero cost of transfer. Electra Protocol solutions will be able to perform payments in any supported crypto currency or fiat money. You will be able to pay in physical shops with it, between participants, or during checkout processes in online shops – in line with KYC and AML regulations, if required. Now add smart contracts and you have a new financial ecosystem, which will also be perfect for use cases such as gaming, NFTs, and supply chain tracking.
Put the pieces together: It’s not just about creating a blockchain.
We are electrafying the world.
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Electrafying the world.
