Frequently Asked Questions

What is Electra Coin?

Electra Coin (ECA) is a decentralized PoS cryptocurrency which facilitates secure, fast, and extraordinarily low-fee peer to peer transactions. Electra is a “non-security token”.
Electra Project is a team consisting of people from various professional backgrounds, nationalities and all around the globe. The team is made up of a fast growing list of trusted community members pouring in time and effort to further the Electra mission.
Some highlight features of Electra Coin which are positioned as low fees peer-to-peer customer to merchant payments coin with blazing fast speed, security, and very low fees.

Speed

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 Due to the outdated design of existing financial transaction protocols, organizations and individuals lose time when paying or transferring funds.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

Block Rewarding

Electra is a Proof-Of-Stake (PoS) digital currency. Through PoS, you can increase your $ECA holding by 2.5% annually (2018-2019) where this rate will halve each year until 0.02%/annual through mined blocks (like BTC but PoS version ). Staking is an option for users which must be activated through their wallets. This Inflation will be under control and reaching 30B coins will take >110 years.

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Was there an ICO?

No, there never was an ICO or fundraising for Electra.

Where can I buy Electra Coin?

Electra Coin can be bought on Coindeal, Cryptopia, Crypto-BridgeCoinFalcon, Bitladon, Coinbene, Nova Exchange and on Fatbtc.

We are in the process of adding Electra to additional exchanges, though non-disclosure agreements prevent us from saying more at this time. Stay tuned!

Exchanges

Where can I store and keep Electra?

You can store your Electra coins with an Electra wallet or on exchanges. Our recommendation is to store them in your own encrypted Electra wallet on a secured personal computer. For Electra, wallet information click on the button below:

Official Wallets

Can I mine Electra?

No. The Electra Proof of Work mining stage already ended, but you can stake your coins (mining through your Electra wallet with Proof of Stake) to generate additional ECA over time. The approximate reward is 2.5% of your staked coins per year (for 2018-2019)

What is Staking?

Staking is an art of mining through digital wallets. Through staking, you can get additional Electra coins if you store them in your Electra wallet and configure the staking option. Users participate in the network by being online and can decide to get additional rewards through block mining or not. This is based on their sole decision.

How is Staking Calculated?

The staking reward is approximately 2.5% for 2018-2019. There is no fixed reward per block; rather, rewards are proportional to the block size. Every time a new block is found, your wallet selects an input (a group of coins that have been added to the wallet simultaneously) and calculates the full reward for this block.

Can I support the Electra Project?

Absolutely! Electra is built by the community, for the community, and all members work on a volunteer basis. No matter what skill you have (marketing, coding, translations, web, etc.), we welcome and encourage your contributions to the Electra Project.

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Is there a mobile wallet?

The Electra mobile wallet is currently being developed and will be released soon. Keep an eye out on our website for the latest news! If there is a wallet it will be on our wallets page:

Official Wallets

Is Electra managed or owned by certain people or a group?

Electra is a truly decentralized coin at its core. Anyone who contributes to the Electra Project is an owner/team member. We welcome everyone to Electra community, and our vision for this currency extends far beyond trading it exclusively on exchanges. We are working towards the widespread adoption of Electra as an online payment method, and are in the process of creating simple web/ API integrations to facilitate this. A digital currency, backed by its community, will always have a better future.