Electra Coin

Fast. Scalable. Low Fees.

Speed

Fast Transactions – In this day and age, time has become invaluable to us. Due to the outdated design of existing financial transaction protocols, organizations and individuals lose time when paying or transferring funds.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.

Mining Blocks

Electra is a Proof-Of-Stake (PoS) digital currency. Through PoS, you can mine blocks and get rewarded 2.5% annually (2018-2019) where this rate will halve each year until 0.02%/annual. Inflation will be under control and reaching 30B coins will take >110 years. PoS mining is a different way of PoW mining where Pos has several advantages and energy efficiency is one of them only.

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.

Read about NIST5

The Future of Electra

Electra Pay

ElectraPay is about adoption of payments to our fast and secure payments network. Electra is soon to announce many partnerships so buckle up and enjoy the ride.

Atomic swaps & Lightning Network

Atomic Swaps will enable a quick transition from Electra coin currency (ECA) to other main cryptocurrencies such as $BTC, $LTC and $ETH. While also using the Lightning Network, the future of Electra Coin is bright.

Merchants

Using a WordPress shop plugin, we are implementing ways websites and merchants can accept #Electracoin as a mode of payment.

Masternodes

Master nodes are ideal for increased rewards and transaction confirmations. The core code is developed as per the official roadmap during 2018. After several team meetings, integration of this feature has been postponed to a later date, we will keep the community informed.

The Electra Blockchain

Peer-to-peer payments coin built on performance, security and cost-effective fees.

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
Block Time: 64 Seconds
Block size: 10MB (Dynamic)
Difficulty re-target: Every Block
Min Fee: 0.00001 ECA
Pre-mine: 3.34% of 30B ECA (one of the lowest on the market)

SHA-3 Cryptographic Hash Algorithm

NIST’s decision rested almost entirely on the generous contributions of time and effort by the cryptographic community. Multiple implementations of the algorithms in hardware and software made meaningful performance comparisons possible, and most of this work was done by volunteers. Analysing the security of a new cryptographic hash function is extremely demanding, requiring hard work from people with rare expertise and talents. This analysis was provided by the members of the cryptographic community, including, but not limited to, the submitters of the SHA-3 candidates. Without this huge volume of published information, representing a great many years of skilled effort, NIST could never have run this competition. Based on the data available, all five finalists appear to be excellent hash algorithms, providing acceptable performance and security properties. Any of the five would have made an acceptable choice for SHA-3. [1]

1 – Reference – Page7 – NISTIR 7896 Third-Round Report of the SHA-3 Cryptographic Hash Algorithm Competition

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