Electracoin Whitepaper
Electracoin Project
Electracoin Roadmap
Electra Block Explorer
Electra Coinmarketcap
The Electra Blockchain
Using the Electra blockchain we have designed the currency ElectraCoin (ECA) that can be traded from one entity to another with invaluable features.
- Ticker: ECA
- Algorithm: NIST5
- 5 minute block times. 288 blocks per day
- 30,000,000,000 ECA in total ( Max Supply )
- 1,000,000,019 ECA pre-mined (less than 3.34% of the total).
- Difficulty re-target: 15 minutes (every 3 blocks)
- Block size: 1MB
- Min Fee: 0.00001 ECA
Speed
Fast Transactions – In this day and age, time has become invaluable to us. Due to the outdated design of existing financial transaction protocols, organisations and individuals lose time when paying or transferring funds. Electra is extremely fast and can take seconds to complete a payment or transfer funds, end-to-end.
Security
Security continues to become an ever more critical factor for customers and businesses. By using the Electra NIST5 blockchain we’re ensuring funds are protected from malicious attacks without compromising on transaction speed.
Interest
Electra is a Proof-Of-Work (PoW) & Proof-Of-Stake (PoS) digital currency. Through PoS, you can earn and increase your investments by 50% annually until the total circulating supply reaches the maximum supply. Our high staking rewards provide additional opportunities for earning income while the value of Electra is protected by total supply limits. This limitation ensures Electra’s future value will steadily increase through adoption, by eliminating inflation.
Efficiency
Electra is the leading blockchain using the NIST5 Algorithm. The NIST5 hashing algorithm was designed to provide a better combination of power efficiency and security, improving on many of the existing algorithms which tend to require exuberant amounts of energy to maintain. NIST5 was one of the 5 final round candidates for the National Institute of Science and Technology’s SHA-3 hash competition, for it’s level of security and performance. Click here for further info relating to NIST5 [1]
- Android Wallet Development
- Atomic Cross-Chain Integration
- Open Source with GitHub Business
- Listing On Next.exchange
Purpose and Use of Pre-mined ECA
1,000,000,019 (Approximately 3.34%) ECA were pre-mined using Proof of Work (PoW) mining. Pre-mined funds are maintained by a trusted Community Funds Manager. Distribution and use of funds is determined by consensus. Pre-mined funds will be used for various purposes including but not limited to the following:
- Maintaining the security and usability of the platform
- Funding further development projects as outlined by our roadmap
- Application to new exchanges
Fast Payments
ECA transactions are received in the recipient’s wallet almost instantly and the ECA received is spendable as soon as the transaction is confirmed in the blockchain. The confirmation process requires less than five minutes.
Transaction Fees Approaching Zero
With transaction fees on the Electra network of 0.00001 ECA, it takes 100,000 transactions to accumulate one ECA worth of transaction fees (approximately $0.004 USD at time of this publication). The resulting cost per transaction is approximately $0.00000004.
Staking Rewards
ECA features a 50% annual stake reward rate. There is no fixed reward per block. Each stake reward is proportional to the amount staked relative to the total ECA in circulation. Additional information regarding the Proof of Stake reward structure for ECA can be found at:
https://electraproject.org/crypto-wallet-staking-guide-electra-project
Optional Privacy
Future developments within the Electra ecosystem will allow for the use of privacy gateways, including but not limited to the following.
- TOR
- IP2network
- Kovri
Users will be able to select the privacy functions best suited to their individual needs. The Electra community is continually working to identify the most scalable and efficient gateway configurations to ensure privacy of transactions.
Environmentally Friendly
When you invest in ECA you become a stakeholder in a fully open source project aimed at developing the most cutting edge technology for the evolution of cryptocurrency. Investors who choose Electra will be a part of this journey. Current technology is a good starting point however, creating the cryptocurrency of the future requires going beyond the limits of existing technology. The strength of Electra resides in the contract that guarantees investors full participation in the direction of the project, including all future developments and technologies. ECA’s potential growth is guaranteed because tomorrow’s ECA will not be just another coin, but rather an adaptation to future societal and economic needs. Investors can be confident that when they purchase ECA, 12 they are investing in the present and future growth of a unique cryptocurrency ecosystem. If an algorithm emerges that is more efficient and superior to NIST5, Electra’s development team is prepared to adapt ECA’s underlying structure to maintain a competitive advantage in the market. As Electra grows the block time can be reduced and the block size can be increased. The adaptability of ECA allows for the blockchain to be maintained while the algorithm is rewritten from scratch. In effect Electra is a blank paper for writing revolutionary code. Writing the code of the future on an already active codebase results in a deployed structure that neither obstructs, limits, nor hinders future development. ECA’s architecture allows a subsequent structure to intersect, connect, flank or replace the existing structure. Electra provides a better solution than existing currencies can and guarantees the community full control.
The Electra Family of Products
Electra’s family of products can be summarized into the following categories. Each product will be described in greater detail below.
- Desktop Wallets (Windows, Linux, Mac)
- Mobile Wallets (iOS & Android)
- Web Wallet
- Merchant Applications
- Plugins for eCommerce Applications
- Merchant Mobile Applications
- Merchant Desktop Software
- Centralized Online Payment Gateway
Each product will be available to any person who has a need to make quick and secure transactions with low fees. The development of wallets, applications and software are driven by the community. Each product will include an integrated support framework, containing user guides and live support from the community
Electra Services
- Integrated Merchant & User Support
- ElectraPay
- SocialPay
- Atomic Swaps
- Master Nodes
- Web Wallet
Electra Team
The Electra Community is rapidly expanding and organizing in new ways. During the next few weeks all active members of the Management & Development Team and their qualifications will be added to the official Electra Project website.
https://electraproject.org/our-team
Join Electra’s Discord server and meet our community of developers, contributors, moderators, Electrans and community members. Decisions regarding team membership are made by community consensus.