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 
Only 3.34% ECA were pre-mined using Proof of Work mining. The 3.34% pre-mined coins are used to:
- Maintaining the security and usability of the platform
- Funding further development projects as outlined by our roadmap
- 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:
- TOR
- IP2network
- Kovri
Electra Family of Products:
- Wallets (Windows: https://tinyurl.com/w4ll3t1 Linux: https://tinyurl.com/w4ll3t2 , Apple: https://tinyurl.com/w4ll3t3 , Paper: https://tinyurl.com/w4ll3t4)
- Mobile Wallets (iOS&Android) are under development
- A Web Wallet is under development
- Merchant Applications: Plugins for eCommerce Applications
- Merchant Mobile Applications
- Merchant Desktop Software
- 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:
- Integrated Merchant & User Support
- ElectraPay
- SocialPay
- Atomic Swaps
- Master Nodes
- 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://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/
Congratulations @steakaufeis! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your Board of Honor.
To support your work, I also upvoted your post!
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP