What is Electra Protocol?
Electra Protocol (XEP) is an open-source decentralized global payment network powered by the Electra Blockchain. Electra Blockchain uses a SHA256 hash algorithm to provide safe and secure Proof-of-Stake transaction validation with virtually zero percent transaction fees (0.000001% price impact). Utilizing PoSv3e, Electra Protocol mitigates staking weight vulnerabilities present in other Proof-of-Stake solutions, greatly reducing risk of a 51% attack. Transactions on the Electra Blockchain are fast and energy efficient without relying on mining, printing, or minting XEP to achieve 80-second confirmation time per transaction. Merchants and customers can take advantage of ElectraPay as a payment option for online and in-store purchases, with the option to withdraw cash from ATMs worldwide using the Electra debit card. Users can also earn rewards by staking Electra Network coin XEP or use AtomicDEX to Atomic Swap between XEP and other cryptocurrency assets including Bitcoin. Electra Protocol is designed to be easily integrated to mobile payment systems, Ecommerce platforms and point of sale (POS) systems, with ElectraPay plugins available for Shopify, Woocomerce, Prestashop, Magento, OpenCart and others.
