Hi HIVIANS,
today I want to tell you some good news:
ElectraProtocol (XEP) just burned 40% of its overall supply yesterday from 29 billion to 18 billion (18,000,000,000 XEP)!
Everyone is able to trace the transaction that made the burn happening:
Additionally, here's a screenshot of the transactions in the wallet GUI :
You can see they were sent to no address so they will in fact be gone forever!
To check the new total supply, you can open the console of the XEP wallet and type "gettxoutsetinfo" into it:
Why has the burn happened?
The wallets that was linked to ECAs founder "E01" (Electra (ECA) was the old chain where ElectraProtocol (XEP) was forked from) was excluded from the new chain (ElectraProtocol (XEP)).
Many coins (ECA) were lost due to Coinsmarkets and Cryptopia which got hacked. These coins were also excluded from the supply of the new chain!
If you want to know more about the hard fork and the reasons why the team decided to do so, you can read the full Medium article here:
https://medium.com/@electraprotocol/progress-report-on-xep-595f42aa1c30
What is ElectraProtocol (XEP)?
General information
"Electra Protocol is a proof-of-stake open-source platform that runs on an ever-developing and improving blockchain. Its core purpose is to build a fast and secure cryptocurrency that allows transactions to occur at a considerably lower than average processing fee rate.
With a team of coordinators and developers from across the globe, this community-based project aims to be the first and most widely used cryptocurrency on the market. With its native coin XEP, Electra Protocol perceives itself as becoming a popular payment processing option, using data money without the complexities of the current forms of payment infrastructures."
Near Zero Fees ✅
Eco Friendly ✅
Instant ✅
Security ✅
Community Project ✅
Decentralized ✅
Specifications
Ticker: XEP
Algorithm: SHA 256
Confirmation/Block Time: 80 Seconds
Block Size: 10 MB
Transactions/Second: Approx. 1600
Consensus: POS v3.0e
Coin Maturity: 12 Hours
Electronic Payments: Yes
Atomic Swaps: Yes
Lightning Network: Yes
SegWit Integration: Yes
Taproot: Yes
Find out more by reading the full whitepaper here:
https://www.electraprotocol.com/wp-content/uploads/2021/01/XEP_White_Paper.pdf
ElectraProtocol's Website
ElectraProtocol on Twitter
ElectraProtocol Telegram chat
Electra Protocol on Discord