How To Get Free Electra ECA Without Mining
We should have a conversation about a newer currency arising called Electra or ECA. Electra is an interesting new coin that has started to gain traction and popularity in the last few weeks. It is a community driven coin without a single CEO, but instead a dedicated team working at improving the coin daily. What makes Electra attractive as a coin to invest in?
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Electra is the leading blockchain using a NIST5 hashing algorithm. Electra has the highest market cap of all coins using the NIST5 algorithm, and at the time of writing this is the most active coin in the category. The NIST5 algorithm was developed with security, and efficiency in mind.
Electra is currency obtained through something called PoS or Proof of Stake. PoS allows a person with coins to put them 'at stake' and obtain a reward for supporting the network. Currently Electra is allowing those to earn additional coins at a rate of approximately 50% per year for supporting the network. The caveat to this is that the 50% PoS is only available until the market supply is achieved. Once the 30-billion-coin market supply is reached the PoS rewards will be significantly reduced. To reward those who continue to support the network or 'stake' their coins, they will receive a portion of transaction fees. This gives investors incentives to get into the coin early on and help jump start it.
What is planned for Electra? Electra currently has a few big improvements in the works for this next year. Very soon Electra will be releasing what they call the 'white paper' to further explain and expand upon the exact goals of the currency. The current roadmap outlines a Tor Integrated Wallet which will expand upon the security of the coin. Electra also have an Atomic SWAP feature planned. Cheapest Verge XVG Miner here. If you're unsure about what an Atomic SWAP feature can do, it allows you to exchange one cryptocurrency to another cryptocurrency, without the need of a third party.
Essentially, you'd be able to trade Electra for Litecoin, or another coin with the Atomic SWAP feature. Personally, I believe these two features will allow you to move more and more towards a decentralized currency. What challenges has Electra faced? Electra was listed on only a few exchanges to begin with and they've been adding more. Electra has had issues with a particular exchange called coinsmarket.
ECA started to get popular and the influx of people joining the exchange caused it to crash. The Electra team has been keeping up with the coinsmarket team to solve this issue as soon as possible, and make the exchange stable. Some of the holders of ECA have reported having their coins trapped on coinsmarket, due to the website being down. This being said the coinsmarket team has reported that their balances were not lost, and they should soon gain access to it. It seems that in spite of this issue ECA has stayed relatively stable and should continue to grow.
What are my predictions for Electra? Well, let me start off and say that I don't think it is a productive to make comments about lambos and the moon. I think that Electra is another security coin with a very strong community behind it.
Personally, I think that there is room with the 30 billion ECA market cap supply to grow. If the coin were to hit 10 cents the market cap would be 3 billion dollars. I absolutely believe that 10 cents is a feasible for Electra with the current growing community. I think once the official white paper is released the coin can show a truer direction and it will continue to gain popularity. Stop By and Say Hi.
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