•• Electra (ECA)••
Abstract
Electra is an open-source community cryptocurrency project featuring decentralized and distributed governance. Electra’s foundation is a blockchain based on the NIST5 algorithm, guaranteeing fast and secure transactions with nearly non-existent transaction costs. Electra’s goal is to become the electric current of the cryptocurrency community. Our vision is to advance the evolution of our economic system as originally proposed by Satoshi Nakamoto. Electra is a unique cryptocurrency in that it is both a development project and a contract. Despite being a fully operational cryptocurrency at present, Electra is an ongoing development project subject to review, innovation, and updating.
Electra is also a contract that offers the investor full participation in the developmentprocess, including but not limited to the following:
Investor Benefit
ECA investors hold a stake in the Electra organization and are encouraged to
become directly involved in the development process. All investors are owners
of both the cryptocurrency and the entire infrastructure that exists behind the
project.
Innovative and Open Development Process
The underlying architecture of the Electra Project is continuously subjected to
multiple stages of validation. Through the validation process only the most valuable
changes are adopted and integrated. Any and all decisions are subjected
to review by the community prior to implementation. Even an optimal system
has limits. Guarantees of reversibility and the highest level of quality are needed.
One of Electra’s strengths is the ability to adapt and consistently meet the
needs of a changing global environment.
Building and deconstructing simultaneously is necessary to create the best
possible product given the current limitations, and at the same time provide
for the ability to further refine the product. In doing so we must accept the possibility
that the existing technology has room to improve or that the underlying
factors of previous developments have changed. Our methodology allows for
continuous evolution of the technology within a changing environment. The
resulting development will produce the best possible product at any given time.
ElectraPay
ElectraPay is a community driven payment solution for merchants. The codebase consists of a centralized payment facility connected to plugins available for most e-commerce platforms including Magento, WooCommerce and Shopify. The ElectraPay system allows merchants to receive payments for their goods and services by easily installing the plugin to their e-commerce websites. Customers will then be able to select ECA as a payment method. The plugin will convert the fiat value to ECA using the latest official ECA price as drawn from multiple exchanges. The customer is then shown a payment address along with a QR code. When the ElectraPay system detects initiation of a payment, it sends a validation call to the merchant’s website and routes the ECA through the ElectraPay system to obfuscate the final payment address. Merchants using this plugin can be confident that their transactions and wallets are secure and concealed from the customer. 15 Merchants will easily be able to install the ElectraPay plugin to their online stores and the plugin is fully customizable to suit the merchant’s needs. Merchants wanting to use custom code in their own payment page will be able to do so with the open ElectraPay API. Below is a chart showing the various building blocks of the ElectraPay system.
Roadmap
Below you will find a truncated version of our roadmap for reference current as of the time of this publication. For the most current version and additional detail regarding the Roadmap please visit https://electraproject.org/road-map
Milestones Achieved
Q3 2017
• Block Explorer completed
• Development of pool for PoW
• Early miners supported with strategic buy offers
• Listing on at least one exchange
• Listed on https://coinmarketcap.com
Q4 2017
• Increase the number of nodes on the network
• Listed on at least three exchanges
• Development of online communities and social media pages dedicated to Electra
• Complete the Roadmap, new website and new block explorer
• Reach 2,000 users on Telegram
• Create educational material for Electra
Q1 2018
• Impact marketing campaign launched to increase awareness of Electra
• Reach 10,000 users between Discord and Telegram
• Establish Team Account for Electra Project developers on Github
• White Paper Release
Planned Goals and Objectives
Q1 2018
• Commence ElectraPay project development
• Release Linux
• Commence Mobile Wallet development
• Release customized Desktop Wallets
• Implement new GUI interface design with special features for desktop wallets
• Whitepaper Update 1.02
• (Optional) Coinomi integration for Electra mobile environment wallet option
• Boost Adoption Phase 1:
• Commence Atomic Swap development
• Listings on new exchanges
• Target new merchants: Several new merchant contacts will be started in order to expand the usage of Electra during daily operations
Q2 2018
• Release of Mobile Wallets: Proprietary iOS and Android Wallet development
• Payment Gateway Integration
• Release of SocialPay Application
• Commence online merchant payment API/Gateway development
• Tor Integrated Wallets: Use TOR/I2P networks to boost privacy features (optional)
• Boost Adoption Phase 2:
• Listings on more new exchanges
• Further additions to merchant base
• Release Atomic Swap
Q3 2018
• Commence Masternodes Development
• Release Web Wallet
• Payment gateway integration phase 2: Continue with the online merchant payment API/Gateway development
• Boost Adoption: Phase 3
• Listings on more new exchanges
• Further additions to merchant base
• Deploy Master Nodes on ECA Network
Q4 2018
• Release New Roadmap