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README.md

Electra

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What is Electra?

Electra is a Blockchain using the highly-secure and power-efficient NIST5 algorithm. Combining limited Proof-of-Work with Proof-of-Stake, Electra coin (ECA) is unique in its distribution. On June 16, 2017, Electra entered a "Super Rewards Bonanza" stage for 24 hours (Blocks 11522-11810). During this time, 95% of the Proof-of-Work coins were generated. At Block 11811, Electra swapped to Proof-of-Stake with an annual interest rate of 50%, until Block 112200. This created a gold-rush period, promoting the network and rapidly increasing the amount of ECA. The 30-Billion ECA is a soft limit, and is controlled by the Proof-of-Stake Block Reward Schedule.

Technical Specifications

TickerECA
AlgorithmNIST5/SHA-256
ConsensusProof-of-Stake 3.0e
Maximum Supply30,000,000,000*
Block Time64 Seconds
Block Size10 MB
Transactions Per Second~800
RetargetEvery Block
Coin Maturation Time12 Hours
Max Coin Age30 Days
Lightning NetworkYes
Atomic SwapYes (Barterdex)
ICONone
Premine3.34%
FoundationYes
*Proof-of-Stake is by definition infinite. The Block Reward Schedule is such that the limit is never reached.

Work in progress

SegWit

Work done

BIP130

BIP68

Block Reward Schedule

Percentage Block Note
50% 11811 - 112200 Year 1
2.5% 112201 - 604950 Year 2 (Current Rate)
1.25% 604951 - 1097700 Year 3
0.63% 1097701 - 1590450 Year 4
0.31% 1590451 - 2083200 Year 5
0.16% 2083201 - 2575950 Year 6
0.08% 2575951 - 3068700 Year 7
0.04% 3068701 - 3561450 Year 8
0.02% 3561451+ Permanent Rate

Our Mission

Leverage Blockchain technology and provide users with fast and secure transactions. We believe Blockchain is the future for many purposes such as data storage, payments and operations. Integration of Blockchain for our daily use leads to higher efficiency in applications.

Fast, Today

Time is one of the key elements in our lives. Especially when it comes to financial transactions, lack of existing money transaction speed, companies or individual users are facing delays. This leads to a slowdown in activities. Electra offers a solution to cover such bad processes. Time is money, money is Electra.

Safe & Anonymous

Security is another very important point on which today's world stands. By using Electra you can make secure payments be done, which gives confidence to the community.

Decentralized, Distributed

Applications are the future need for higher efficiency and cost reduction. Electra is your solution for decentralized Payments.

Efficiency

Electra uses the NIST5 hash, which is chosen as the winning algorithm by the US Nation of Science competition. Combination of security and mining efficiency were the key points taken into account.

Why NIST5?

Electra chose to use NIST5 as its hashing algorithm because it has been proven to be more secure and power-efficient than other leading algorithms. NIST5 is a combination of the finalists and winner of the US National Institute of Standards and Technology Hash Function Competition (specifically BLAKE, Grøstl, JH, Keccak/SHA-3, and Skein). NIST5 was created fairly recently, and immediately saw use by other coins, but failed to see mainstream adoption.

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