Electra Protocol is a scalable, permissionless, and decentralized blockchain for transactions. The combination of its instant payments, near zero gas fees, and the compatibility to Solidity (Ethereum Virtual Machine) make this ecosystem second to none.
Smart Contracts PLATFORM
Making Instant Money Programmable:
Benefits | Platform Integration | Perfect for Developers | Public Tokens | Applications
Benefits WHY
Electra Protocol’s smart contracts platform will be launched on mainnet in steps during 2024. The first transaction was made on testnet during December 2022. Smart contracts will be used to automate the execution of an agreement in order that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.
Programmable Money
Smart contracts work by following “if/else/when…then…” statements which are written into blockchain code. The blockchain network of computers executes the actions when predetermined conditions have been met and verified.
Smart contracts on the Electra Protocol blockchain are expected to bring significant innovation, as they are ultrafast, efficient, and accurate. They are transparent and do not rely on any third party middlemen. Transaction records on the Electra Protocol blockchain will be encrypted and almost impossible to manipulate. As a result, they will reduce costs and can be used for a wide variety of solutions.
The smart contracts platform can be used to create solutions in the space of Decentralized Finance (DeFi) and will include the capacity to host decentralized exchanges (DEXes).
Platform Integration UNIQUE
Unlike other crypto projects, Electra Protocol was specifically designed to be perfect for payments. Instant transactions at almost no cost are not only working for its native XEP coins, but are also planned to be used for payments in other crypto currencies.
The World's Fastest Decentralized Blockchain
The upcoming smart contracts platform of Electra Protocol will seamlessly integrate with all technical innovations which the blockchain has already implemented. Among these are especially instant transactions at near zero gas fees.
However, not just pure technology matters when a platform wants to provide usefulness. Upcoming solutions built on Electra Protocol can use digital ID functionalities in order to comply with applicable law. This will optionally enable merchants, systems, and end users to participate in transactions compliant to KYC and AML, no matter if a crypto currency or even fiat currency is sent using Electra Protocol.
Perfect for Developers EASY
Smart contracts require programming, and the upcoming smart contracts platform will be made for easy implementation.
Adoption Through Developers
The upcoming smart contracts platform of Electra Protocol will be perfect to enable a variety of use cases, including developers to create their own public tokens. The smart contract capacity is planned to be implemented in 3rd party development frameworks in order to ease access to it.
One of the features the designers of the smart contract platform are actively exploring is an optional KYC check of smart contract publishers, which might be released in order to allow developers to showcase their legitimacy.
The combination of near realtime transactions and almost zero gas fees with Solidity smart contracts will make Electra Protocol an attractive platform for developers, DApps, and solutions running on its blockchain. #datamoney
Public Tokens OPEN
According to the roadmap, smart contracts will be released on mainnet in steps during 2024. With the release of the smart contract platform developers will not only be able to publish smart contracts, but also create token-based projects on the Electra Protocol blockchain.
A Universe For Tokens
Electra Protocol will offer developers to issue user-generated tokens on its innovative blockchain. These virtual currencies enrich the digital experience and will provide usefulness to many applications. All Electra Protocol tokens will come with the same benefits of the ecosystem, like instant transactions at near zero cost and upcoming multicurrency payments.
Token-enabled smart contracts is an integral part for the usefulness of upcoming solutions. Developers will be able to set the amount of tokens in circulation, storing and returning balances, making transfer and withdrawal requests and granting approval, and agreeing to automated transfers.
Applications WHAT
The upcoming smart contracts platform will be a home to decentralized apps (dApps). Since these applications have no single point of failure, they’re more resistant to attacks on a single server.Another advantage of dApps is that they’re resistant to modification or censorship.
Highspeed Platform for Gaming, NFTS, and More
The efficiency of transactions today is hindered by costly and processes. In very simple terms, the purchasing party will always face the risk of fraud, as it can never be sure that the selling party will fulfill its obligations.
In the trade finance context, smart contract technology is a missing piece: a transaction won’t execute until predefined settlement conditions are met, significantly decreasing associated risks. With smart contracts, the majority of processes related to paperwork, KYC, and AML can be done autonomously. This greatly reduces a wide array of operational costs, decreases settlement times, and makes particular markets more liquid. Smart contracts will come into play for other related payment use cases.
Mainnet: LIVE
Blockchain: Electra Protocol
Launch: January 1, 2021
Native Currency: XEP
Launch: January 1, 2021
Native Currency: XEP
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