What is behind Electra?

In this post I will do a little review about a coin with a really helpful and big community, which I really like! Its name is ELECTRA [ECA].

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. Combining the best features of the five SHA-3 finalist algorithms  

Like many other coins Electra is not mineable! 

Only 3.34% ECA were pre-mined using Proof of Work mining. The 3.34% pre-mined coins are used to:

1. Maintaining the security and usability of the platform 
2. Funding further development projects as outlined by our roadmap 
3. Application to new exchanges 

Some Information about the Electra Blockchain:

Block Size: 1MB

Block Time: 5 minutes (288 blocks per day)

Max Supply: 30,000,000,000 

Pre-mined: 1,000,000,019 (Approximately 3.34%) 

Difficulty Target: Retarget occurs every 15 minutes (every 3 blocks) 

Fee: 0.00001 ECA                                                                                                                                                                        

As I already mentioned Electra is a Proof of Stake coin, that makes it environmentally friendly! Staking Rewards are a 50% annual stake reward rate, which will soon be decreased to 10% to ensure that no inflation will happen for more information about staking Electra: https://electraproject.org/2018/02/08/crypto-wallet-staking-guide-electra-project/ 

But is there a good privacy in Electra? 

The development team is aiming to bring a ecosystem for the use of privacy gateways, including but not limited to the following:

1.  TOR 
2. IP2network 
3. Kovri

Electra Family of Products:

1. Wallets (Windows:  https://tinyurl.com/w4ll3t1  Linux: https://tinyurl.com/w4ll3t2 , Apple: https://tinyurl.com/w4ll3t3 , Paper: https://tinyurl.com/w4ll3t4)
2. Mobile Wallets (iOS&Android) are under development

3. A Web Wallet is under development  
4. Merchant Applications: Plugins for eCommerce Applications 
5. Merchant Mobile Applications
6. Merchant Desktop Software 
7. Centralized Online Payment Gateway

All this development is driven by the community itself!

The last point on which I will write something to are Electra Services!

Electra Services:

1. Integrated Merchant & User Support
2. ElectraPay
3. SocialPay
4. Atomic Swaps
5. Master Nodes
6. Web Wallet

ATOMIC SWAPS? You asking yourself huh atomic swaps sounds cool but what are atomic swaps? 

To keep it simple (you can see detailed description in the picture above) Atomic Swaps are nothing more than changing your Electra holdings (ECA/s) into any other cryptocurrency you want without a third party (exchange)! As you can imagine this will be revolutionary!  

In my opinion Electra is a very strong upcoming coin! The Community is growing fast everyday! I tried the Wallet and some transactions and everything just worked fine in seconds! If you want to join the community

http://t.me/Electracoin [Telegram],

http://discordapp.com/invite/B8F7Jdv [Discord],

https://twitter.com/electracoineca?lang=en [Twitter] 

If you have any Questions about the coin, technical things feel free to ask in the commentary section below!

Sources: 

https://electraproject.org/ 

https://cdn.electraproject.org/wp-content/uploads/2018/02/electra-white-paper_1.0.pdf 

https://electraproject.org/roadmap/

https://www.electraexplorer.com/ 

https://github.com/Electra-project/