Electra Protocol is a decentralized blockchain ecosystem that offers real-time transactions at a low cost. Electra Protocol runs on a scalable, permissionless, decentralized, and secured layer-1 blockchain. The ecosystem offers a safe and secure payments system, DeFi, NFTs (non-fungible tokens), gaming, supply chain management, Web3, and much more.

According to the whitepaper, Electra Protocol introduces more features such as multicurrency payments and smart contracts. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. The objective of Electra Protocol is to design, build, and continuously evaluate the Electra Protocol project and create a trusted financial ecosystem for the community. Electra Protocol also aims to ensure that the community contributes actively to the development of Electra Protocol.  

Electra Protocol is not driven by a company, unlike other blockchain projects, and the platform does not conduct public funding. Electra Foundation supports Electra Protocol and manages all the interests regarding the Electra Protocol network. Electra Foundation is an NGO founded at the beginning of 2022. 

According to the website, crypto’s economy is getting increasingly global, but payments and programmable contracts are still slow and expensive. Electra Protocol is determined to change the current scenario for instant transactions by offering the following features to its users:  

Electra Protocol was launched on January 1, 2021. The maximum supply of XEP tokens is 30,000,000,000 XEP.