Electra Whitepaper

Friday, June 15, 2018
Download document
Save for later
Add to list

WHITE PAPER Release 1.0 / January 31, 2018

Table of Contents Abstract 3 Electrifying the Cryptocurrency Community 5 Investor Benefit 6 Innovative and Open Development Process 6 Electra Sets New Standards for Cryptocurrencies 7 Current Technology 8 The Algorithm 8 The Electra Blockchain 9 Purpose and Use of Pre-mined ECA 9 Fast Payments 10 Transaction Fees Approaching Zero 10 Staking Rewards 10 Optional Privacy 10 Environmentally Friendly 11 Future Technology 11 Electra Ecosystem 12 The Electra Family of Products 13 Electra Services 13 Integrated Merchant & User Support 14 ElectraPay 14 SocialPay 16 Who Is SocialPay For? 16 Atomic Swaps 17 Why Atomic Swaps? 17 Applying Atomic Swaps 19 Master Nodes 20 Web Wallet 21 Wallet Subsystem 22 ECA Core 22 Web Interface 23 Roadmap 25 Electra Team 28 Management & Development Team 28 Developing.IT Team 29 Additional Contributors 29 Overseers 30 Head Moderators 30 Support Moderators 30 Electrans 30 Founder’s Vision 32 Updates and Upgrades to this Whitepaper 33 Disclaimer 34

Abstract Electra is an open-source community cryptocurrency project featuring decen- tralized and distributed governance. Electra’s foundation is a blockchain based on the NIST5 algorithm, guaranteeing fast and secure transactions with nearly non-existent transaction costs. Electra’s goal is to become the electric current of the cryptocurrency communi- ty. Our vision is to advance the evolution of our economic system as originally proposed by Satoshi Nakamoto. Electra is a unique cryptocurrency in that it is both a development project and a contract. Despite being a fully operational cryptocurrency at present, Electra is an ongoing development project subject to review, innovation, and updating. Electra is also a contract that offers the investor full participation in the deve- lopment process, including but not limited to the following: 3

l Access to the Electra Community l The right to access project information l Involvement in the development decisions l Comprehensive voting rights l Access to Technical Support The Electra Blockchain and the ECA coin are a product of the combined skil- ls and abilities of an ever-growing community of coders, developers, business professionals and other contributors. ECA is built on a fully functional and fe- ature rich blockchain with a stable and solid foundation. This foundation pro- vides the reliable platform needed for our talented community of developers to innovate, invent and build upon. Blockchain technology evolves on a daily basis. As this technology improves, ECA’s foundation will expand and grow in tandem with the latest innovations. Digital currency was created to bring change to the financial world through the decentralization and disintermediation of the global financial ecosystem. Progress towards this goal has thus far been inhibited by insufficient technical tools that alone are simply not enough to affect mass adoption of blockchain technology. Recent technological developments are only now beginning to unlock new possibilities, resulting in paradigm shifts within the cryptocur- rency ecosystem regarding the scalability, accessibility, speed, and cost of blockchain applications. The opportunity for dramatic change within a developing ecosystem is unfortu- nately time limited. Newly developed systems evolve quickly, rapidly reaching a point where progressive and lasting change is inhibited by the structures built during each stage of evolution. As blockchain technology moves towards structural boundaries within the ecosystem there is a period of time in whi- ch greater freedom of action for the evolutionary forces at work is possible. For cryptocurrencies and blockchain technology as a whole, that time is now. 4

Electra is positioned to become one of the main driving forces of change while these windows of opportunity remain open. Participants within the traditional economic structure are attempting to em- ploy old logic to adapt to the ongoing restructuring of our economic system, subverting the original intent behind the cryptocurrency movement. The cryp- tocurrency community must recapture the original spirit behind decentrali- zation and the Electra Project is prepared to lead the way. ECA owners are no longer just investors in a cryptocurrency. Instead, by being directly involved in the decision making process investors take part in the entire underlying structure: code innovation, design, marketing, community building, and strate- gic business development. Through this process, participants within the economic system are no longer relegated to being mere consumers. Electra returns the power to the people, and assigns members of the community an active role in the evolution of our economic and monetary systems. Electrifying the Cryptocurrency Community Electra is more than a common digital currency. It is a currency backed by an entire community of dedicated individuals. Electra’s goal is to create the stron- gest possible community of individuals who all share the same philosophy of change with regards to global monetary systems. Through transparency and empowerment, we are shining a new light on a darkening system. This is not a zero sum game; this is Electra. 5

Our vision for Electra is that it becomes the largest and most active crypto- currency community within the market space. An active global community provides investors an opportunity to assume roles as active players and con- tributors. Electra is not only a decentralized organization, but a unique and powerful revolution based on shared ownership and collaboration among the skilled experts throughout our community. Investor Benefit ECA investors hold a stake in the Electra organization and are encouraged to become directly involved in the development process. All investors are owners of both the cryptocurrency and the entire infrastructure that exists behind the project. Innovative and Open Development Process The underlying architecture of the Electra Project is continuously subjected to multiple stages of validation. Through the validation process only the most va- luable changes are adopted and integrated. Any and all decisions are subjected to review by the community prior to implementation. Even an optimal system has limits. Guarantees of reversibility and the highest level of quality are nee- ded. One of Electra’s strengths is the ability to adapt and consistently meet the needs of a changing global environment. Building and deconstructing simultaneously is necessary to create the best possible product given the current limitations, and at the same time provide for the ability to further refine the product. In doing so we must accept the pos- sibility that the existing technology has room to improve or that the underlying factors of previous developments have changed. Our methodology allows for continuous evolution of the technology within a changing environment. The resulting development will produce the best possible product at any given time. 6

Electra Sets New Standards for Cryptocurrencies The best product is the one capable of becoming completely different from its origins. Today, the leading cryptocurrencies on the market can only guarantee their relevance to investors for an ephemeral period. What is now at the fore- front of the market will soon be outdated and outclassed by innovative compe- titors. As a community we synthesize and condense the vision of many individuals, compare and contrast diverse viewpoints, and examine possible outcomes. The results of this process are subjected to review and analysis by a multitude of viewpoints, allowing for the systematic detection of probable errors. This approach ensures that only the most valid ideas survive to reach imple- mentation. To reach our goals it is necessary to widen the scope of discussion as much as possible and to extend an open dialogue indefinitely. The end result of our efforts is the Electra Project. The Electra Project’s primary points of focus are the following: l Design and build the most cutting edge cryptocurrency l Create a financial ecosystem for the community l Ensure that the project is driven by community needs l Evolve the product over time, utilizing best practices 7

Current Technology The Algorithm ECA is built using an algorithm that guarantees security; NIST5. NIST5 is an al- gorithm developed using the best features of the five SHA-3 finalist algorithms as selected by the National Institute of Standards and Technology of Ameri- ca. In practice, the NIST5 algorithm as implemented in ECA selects the most beneficial attributes of each component algorithm to maximize performance, security, and efficiency. These component algorithms include: l BLAKE l JH l Skein l Grostl l Keccak Domain Underlying Primitive Hash Security Algorithm Extender Primitive Size Size Coll Pre 2nd Pre Indiff k=512 224 112 224 224 128 b=512 256 128 256 256 128 BLAKE HAIFA Block cipher k=1024 384 192 384 384 256 b=1024 512 256 512 512 256 512 224 112 224 128 256 – log2L A pair 512 256 128 256 128 Grøstl Grøstl of permutations 1024 384 192 384 512 – log2L 256 1024 512 256 512 256 224 112 224 224 256 256 128 256 256 256 JH JH Permutations 1024 384 192 256 256 256 512 256 256 256 256 224 112 224 224 224 256 128 256 256 256 Keccak Sponge Permutations 1600 384 192 384 384 384 512 256 512 512 512 k=512 224 112 224 224 256 Tweakable b=512 256 128 256 256 256 Skein UBI block cipher t=128 384 192 384 384 256 512 256 512 512 256 k=512 224 112 224 256 – log2L 1 b=256 256 128 256 6 SHA-2 MD Block cipher k=1024 384 192 384 b=512 512 256 512 512 – log2L 1 8

Security Algorithm Best Attack Work Depth of Analysis Margin BLAKE Semi-free-start near collision 71% Practical High Grøstl Semi-free-start collision 40% Impractical Very High8 JH Semi-free-start near collision 38% Impractical Low Keccak Near collision 79% Practical Medium Skein Semi-free-start near collision 56% Impractical High8 SHA-26 Collision 62% Practical Medium ** NIST Competition Summary http://nvlpubs.nist.gov/nistpubs/ir/2012/NIST.IR.7896.pdf ** Handbook of Digital Currency Bitcoin Innovation, Financial Instruments and Big Data.pdf The Electra Blockchain The underlying blockchain of the ECA coin utilizes a modified version of the NIST5 algorithm with the following properties: l Block Size: 1MB l Block Time: 5 minutes (288 blocks per day) l Max Supply: 30,000,000,000 l Pre-mined: 1,000,000,019 (Approximately 3.34%) l Difficulty Target: Retarget occurs every 15 minutes (every 3 blocks) l Fee: 0.00001 ECA Purpose and Use of Pre-mined ECA 1,000,000,019 (Approximately 3.34%) ECA were pre-mined using Proof of Work (PoW) mining. Pre-mined funds are maintained by a trusted Community Funds Manager. Distribution and use of funds is determined by consensus. Pre-mined funds will be used for various purposes including but not limited to the following: 9

l Maintaining the security and usability of the platform l Funding further development projects as outlined by our roadmap l Application to new exchanges Fast Payments ECA transactions are received in the recipient’s wallet almost instantly and the ECA received is spendable as soon as the transaction is confirmed in the blockchain. The confirmation process requires less than five minutes. Transaction Fees Approaching Zero With transaction fees on the Electra network of 0.00001 ECA, it takes 100,000 transactions to accumulate one ECA worth of transaction fees (approximately $0.004 USD at time of this publication). The resulting cost per transaction is approximately $0.00000004. Staking Rewards ECA features a 50% annual stake reward rate. There is no fixed reward per block. Each stake reward is proportional to the amount staked relative to the total ECA in circulation. Additional information regarding the Proof of Stake reward structure for ECA can be found at: https://electraproject.org/crypto-wallet-staking-guide-electra-project Optional Privacy Future developments within the Electra ecosystem will allow for the use of privacy gateways, including but not limited to the following. l TOR l IP2network l Kovri 10

Users will be able to select the privacy functions best suited to their individual needs. The Electra community is continually working to identify the most sca- lable and efficient gateway configurations to ensure privacy of transactions. Environmentally Friendly The NIST5 algorithm utilized by the ECA cryptocurrency is more environmen- tally friendly than competing technologies and has proven to be a sustainable option for deployment of blockchain-based systems. NIST5 requires signifi- cantly less energy to run than competing algorithms without compromising the security of network members. Furthermore, Electra does not have an extended Proof of Work (PoW) phase. Electra’s blockchain network is now Proof of Stake (PoS) which results in no miners and a greatly reduced carbon footprint. Future Technology When you invest in ECA you become a stakeholder in a fully open source project aimed at developing the most cutting edge technology for the evolution of cryptocurrency. Investors who choose Electra will be a part of this journey. Current technology is a good starting point however, creating the cryptocur- rency of the future requires going beyond the limits of existing technology. The strength of Electra resides in the contract that guarantees investors full participation in the direction of the project, including all future developmen- ts and technologies. ECA’s potential growth is guaranteed because tomorrow’s ECA will not be just another coin, but rather an adaptation to future societal and economic needs. Investors can be confident that when they purchase ECA, 11

they are investing in the present and future growth of a unique cryptocurrency ecosystem. If an algorithm emerges that is more efficient and superior to NIST5, Electra’s development team is prepared to adapt ECA’s underlying structure to maintain a competitive advantage in the market. As Electra grows the block time can be reduced and the block size can be increased. The adaptability of ECA allows for the blockchain to be maintained while the algorithm is rewritten from scratch. In effect Electra is a blank paper for writing revolutionary code. Writing the code of the future on an already active codebase results in a deployed structu- re that neither obstructs, limits, nor hinders future development. ECA’s archi- tecture allows a subsequent structure to intersect, connect, flank or replace the existing structure. Electra provides a better solution than existing currencies can and guarantees the community full control. Electra Ecosystem In order for merchants to complete transactions, they need to be able to accept payments from consumers. In today’s world merchants do not have the proper technical tools at their disposal for accepting digital currency as a form of pay- ment. Merchants that do accept digital currencies are paying extremely high fees to do so. Despite the proliferation of technology across the globe, many developing re- gions of the world continue to operate within a system where the ‘Cash is King’ philosophy remains dominant in conducting commerce. Ease of adoption pro- vided by the Electra ecosystem combined with easy access to mobile Internet in developing countries provides a secure, fast, and low fee payment gateway for both consumers and merchants alike, regardless of where they live. 12

The Electra Family of Products Electra’s family of products can be summarized into the following categories. Each product will be described in greater detail below. l Desktop Wallets (Windows, Linux, Mac) l Mobile Wallets (iOS & Android) l Web Wallet l Merchant Applications l Plugins for eCommerce Applications l Merchant Mobile Applications l Merchant Desktop Software l Centralized Online Payment Gateway Each product will be available to any person who has a need to make quick and secure transactions with low fees. The development of wallets, applications and software are driven by the community. Each product will include an inte- grated support framework, containing user guides and live support from the community. Electra Services The following services will be provided across all products offered by Electra: l Integrated Merchant & User Support l ElectraPay l SocialPay l Atomic Swaps l Master Nodes l Web Wallet 13

Integrated Merchant & User Support At Electra we understand that the idea of managing a digital wallet and using di- gital currencies may be a little daunting for some. We are integrating a commu- nity support system into the Electra family of products. Regardless of where you are located around the world, there will be someone from the 10,000 plus member community that will be able to provide you with support and assistance using the Electra Payments Gateway and other Electra products and services. ElectraPay ElectraPay is a community driven payment solution for merchants. The codebase consists of a centralized payment facility connected to plugins available for most e-commerce platforms including Magento, WooCommerce and Shopify. The ElectraPay system allows merchants to receive payments for their goods and services by easily installing the plugin to their e-commerce websites. Cu- stomers will then be able to select ECA as a payment method. The plugin will convert the fiat value to ECA using the latest official ECA price as drawn from multiple exchanges. The customer is then shown a payment address along with a QR code. When the ElectraPay system detects initiation of a payment, it sends a validation call to the merchant’s website and routes the ECA through the ElectraPay system to obfuscate the final payment address. Merchants using this plugin can be confident that their transactions and wallets are secure and concealed from the customer. 14

Merchants will easily be able to install the ElectraPay plugin to their online stores and the plugin is fully customizable to suit the merchant’s needs. Merchants wan- ting to use custom code in their own payment page will be able to do so with the open ElectraPay API. Below is a chart showing the various building blocks of the ElectraPay system. 15

SocialPay SocialPay by Electra is an automated application that enables individuals and organizations to leverage the power of Social Media. This is accomplished by ini- tiating ECA transactions on a large scale, allowing content providers and organi- zations to send or receive ECA within their existing Social Media audiences. Electra’s Social Pay application is currently integrated with the platforms of Twitter, Telegram, Discord and Slack. As development of this service continues additional Social Media platforms will be added to include Facebook, Reddit, Instagram, Weibo, and others. Who Is SocialPay For? The current version of SocialPay is designed for communities who would like to send or receive ECA using their favorite Social Media platform. SocialPay al- lows users to send and receive ECA by simply posting a message to their Social Media account. This message can be either public or private. Possible scenarios where SocialPay could be used include but are not limited to the following. l Content creators and non-profit organizations accepting donations l Rewards-based community building l Crowdfunding l Participation in ICO or Token Sales Provided below is an example of how SocialPay may be used. l The Red Cross is responding to an emergency situation and would like to raise funds to provide relief for those affected. By using the Electra 16

SocialPay application and asking their followers for donations via Twitter, they can reach their entire audience within minutes. Once the application is set up, any Twitter user will be able to send an ECA do- nation via a direct message to the Red Cross. The Red Cross will then instantly receive the ECA within its account and be able to use the funds where they are most needed. Future developments within Electra’s SocialPay application are aimed at expanding the possible field of Social Media participants. Atomic Swaps Why Atomic Swaps? Thousands of cryptocurrencies are currently in existence and the number con- tinues to grow exponentially as blockchain technology is adopted. It remains a complex task to exchange one cryptocurrency for another when payment needs require different currencies. Cryptocurrency transactions are currently not reversible. This requires the use of a trusted third party to ensure that both sides of a transaction are resolved, so exchanges are used to accomplish the trading of different cryptocurrencies. The Electra community understands the need to fill this void. Atomic Swaps is the answer. Electra’s atomic swap architecture generates a hash-time-locked contract, which uses multi-signature addresses and time locks to secure the transaction at an agreed upon price. 17

18

In a two-party cryptocurrency transaction using atomic swaps on transactions on differing blockchains can occur simultaneously and can be secured by the sharing of a private code between both parties. Use of the private code by one party will only complete the transaction if the second party also uses the same private code. Failure by one party to send the agreed upon amount of currency or to enter the correct code results in cancellation of the transaction and the return of all funds to their original location. This process removes the need for trusted third party intervention. Imagine you want to use ECA to pay for pizza at a restaurant that accepts only Bitcoin. A complex series of operations must first take place as illustrated be- low l Access an exchange l Send ECA to exchange l Sell ECA for Bitcoin l Open a Bitcoin wallet application l Transfer Bitcoin to wallet from the exchange l Wait for the bitcoin transaction to confirm l Pay for your (cold) pizza It is easy to see why the process is not currently used in commercial inte- ractions at the retail level. Applying Atomic Swaps The following is a list of operations that would be required with Atomic Swap technology employed in the same transaction: paying for pizza with ECA at an establishment that only accepts Bitcoin. l Open your Electra application l Scan the Bitcoin QRCode l Confirm the payment within the application 19

Atomic Swap technology greatly reduces the complexity of the transaction between customer and merchant by removing the necessity of knowing which cryptocurrency is accepted at a given location. Both the non-ECA blockchain and the ECA blockchain confirm the transaction. If either blockchain rejects the transaction ECA is returned to the customer’s wallet. Master Nodes Master Node implementation is an essential part of the ECA development process. Implementing Master Nodes on the ECA network will provide the fol- lowing main benefits: l Faster Transactions on the ECA Network l Increased Privacy of Transactions l Improved Health and Stability of the ECA Network l Improved Decentralization of the ECA Ecosystem To initiate and run a Master Node, Electra community members apply to the core development team to obtain Node specifications and requirements. De- velopment of Master Nodes on the ECA network is ongoing. Refer to the most recent version of the roadmap for target release dates. 20

Web Wallet Not all users want to install a desktop or mobile wallet. Electra’s Web Wallet offers an online solution that provides users the same functions. The following main development blocks have been identified: l Wallet Subsystem l ECA Core l Web Frontend l Mobile Extension Interface (Optional) The Mobile Extension Interface (MEI) allows the end user to access their web wallet from a personal device. The MEI integrates with other 3rd party appli- cations (Whatsapp, Telegram, address book) allowing the user to employ the Electra SocialPay service to send ECA via Social Media. 21

Wallet Subsystem The wallet subsystem implements all standard wallet features: l Wallet Core l Send, Receive and Stake ECA l Wallet Database l Backup Daemon l Full or Incremental backups l User Defined Backup Policies l Disaster Recovery Process ECA Core The ECA Core is the backend engine consisting of the following modules: l Web Server 22

l Reconciliation tasks l Guarantees data integrity l Synchronization between the wallet subsystem and the database l Helper Subsystem l Tasks to ensure system health l Administrative tasks - backups l End-user messaging l Database l Contains user information l User contacts l Dashboard settings l Configuration settings l Security settings l Profile settings l Wallet information including balances and staking Web Interface 23

The Web Interface is the front-end interface between the user and ECA Core and includes the following modules: l Client GUI Server Interface l Web user interface l Compatible with the given baseline of browsers/versions l Ability to run on mobile and PDA devices l Server Interface and requests serialization l Uses secure websockets to open communication between Electra Core and the front-end system l The server interface implements a transactional subsystem l The transactional subsystem implements serialization of concurrent users requests and vice versa l Transactions can be synchronous or asynchronous l Security & authentication l Enforces standard login policies • Login Form • 2FA l Web protection features • Recaptcha • DDoS l Private API • Implementation of the wallet API by the mobile wallet application (also known as Mobile Extension Interface) 24

Roadmap Below you will find a truncated version of our roadmap for reference current as of the time of this publication. For the most current version and additional detail regarding the Roadmap please visit https://electraproject.org/road-map Milestones Achieved Q3 2017 n Block Explorer completed n Development of pool for PoW n Early miners supported with strategic buy offers n Listing on at least one exchange n Listed on https://coinmarketcap.com Q4 2017 n Increase the number of nodes on the network n Listed on at least three exchanges n Development of online communities and social media pages dedicated to Electra n Complete the Roadmap, new website and new block explorer n Reach 2,000 users on Telegram n Create educational material for Electra 25

Q1 2018 n Impact marketing campaign launched to increase awareness of Electra n Reach 10,000 users between Discord and Telegram n Establish Team Account for Electra Project developers on Github n White Paper Release Planned Goals and Objectives Q1 2018 n Commence ElectraPay project development n Release Linux Wallet n Commence Mobile Wallet development n Release customized Desktop Wallets n Implement new GUI interface design with special features for desktop wallets n Whitepaper Update 1.02 n (Optional) Coinomi integration for Electra mobile environment wallet option n Boost Adoption Phase 1: • Commence Atomic Swap development • Listings on new exchanges • Target new merchants: Several new merchant contacts will be started in order to expand the usage of Electra during daily operations Q2 2018 n Release of Mobile Wallets: Proprietary iOS and Android Wallet development 26

n Payment Gateway Integration n Release of SocialPay Application n Commence online merchant payment API/Gateway development n Tor Integrated Wallets: Use TOR/I2P networks to boost privacy features (optional) n Boost Adoption Phase 2: • Listings on more new exchanges • Further additions to merchant base n Release Atomic Swap Q3 2018 n Commence Masternodes Development n Release Web Wallet n Payment gateway integration phase 2: Continue with the online merchant payment API/Gateway development n Boost Adoption: Phase 3 • Listings on more new exchanges • Further additions to merchant base n Deploy Master Nodes on ECA Network Q4 2018 n Release New Roadmap 27

Electra Team The Electra Community is rapidly expanding and organizing in new ways. During the next few weeks all active members of the Management & Development Team and their qualifications will be added to the official Electra Project website. https://electraproject.org/our-team Join Electra’s Discord server and meet our community of developers, contri- butors, moderators, Electrans and community members. Decisions regarding team membership are made by community consensus. https://discord.gg/XP7nShh Our list of team members is subject to change based on the needs and desires of the community. Management & Development Team The Electra Management & Development Team consists of core developers, project managers, community managers, UI/UX designers, web designers and marketing developers. Admin [@Admin#8523] Zewior [@Zewior#9267] sols [@sols#3895] Studly [@Studly#2360] jax [@jax#0250] boiiii [@boiiii#7402] Kurcide [@Kurcide#5698] Stefs [@Stefs#2147] Renat_77 [@Renat_77#0464] cybergipsy [@cybergipsy#2912] Sarah [@Sarah#3781] CryptBay [@CryptBay#8978] scibot [@scibot#3330] Deman [@Deman#3755] 28

Elec Elec [@Elec Elec#5381] gabsale [@gabsale#0137] francescodangelo [@francescodangelo#9089] The revolution [@The revolution#7705] Developing.IT Team Composed of developers within the community, the Developing.IT team sup- ports marketing and website management. greyfox [@greyfox#9485] lele3737 [@lele3737#3262] nicofly [@nicofly#4921] Additional Contributors Community contributors, developers, designers, copywriters, translators, and professional investors in Electra who play an active role within the community with regards to development and decision making. Billy [@Billy#7650] highwaystar_crypto [@highwaystar_crypto#9211] Brik [@Brik#7504] hyjazl [@hyjazl#5030]iizzzzz [@iizzzzz#6287] CryptoProphet [@CryptoProphet#8960] Isoetes [@Isoetes#7671] Daniyal [@Daniyal#4288] Ivan [@Ivan#9565] Dmitry [@Dima#4629] john.connor.T800 [@john.connor.T800#9802] ECA Shark (Oznoska)[@ECA Shark (Oznoska)#4946] joshua [@joshua#5437] ECA_BEAR [@ECA_BEAR#8668] Niilay [@Niilay#0002] Enratic [@Enratic#2818]] oxymorum [@oxymorum#6684] FARS [@FARS#8975] pskow [@pskow#8106] Fanos [@Fanos#5697] Randall [@Randall#9867] Game Stack [@Game Stack#9024] reqviem [@reqviem#3378] Greenbigfrog [@greenbigfrog#4461] Ruru [@Ruru#9895] HeathHimself [@HeathHimself#5438] Serapium [@Serapium#2642] 29

sheppard94 [@sheppard94#9729] Teddy_can [@Teddy_can#2112] sinya_mori [@sinya_mori#3789] TheWatcher [@TheWatcher#4267] Slick [@Slick#3955] thomasotter [@thomasotter#0672] solacespecs [@solacespecs#6361] tureki [@tureki#6243] sortsy [@sortsy#2585] xafilox [@xafilox#5093] soupli [@soupli#8718] xInfinitYz [@xInfinitYz#3970] steefaan [@steefaan#5815] Zukunft [@Zukunft#3000] Stuyk [@Stuyk#6645] KYO [@KYO#5513] Overseers Leaders in community management with administrator privileges. JustOneAndDone [@JustOneAndDone#8706] Ryu [Ryu#9160] Head Moderators Lead moderators in community management. aman_singh12 [@aman_singh12#2365] Ultor [@Ultor#4898] Asmoth [@Asmoth#0436] Wolf [@Wolf#5660] Support Moderators Moderators of Discord and Telegram servers, Reddit, Twitter, Instagram and other social media channels. AshElxctra [@AshElxctra#2689] JoshhMetal [@JoshhMetal#4568] clemcoast [@clemcoast#3549] Macroscopic [@Macroscopic#4036] Coinwulf [@Coinwulf#9680] Miley Cyrus [@Miley Cyrus#8370] Daffy [@Daffy#2616] nubbins7 [@nubbins7#9317] Deemer [@Deemer#3024] OmniWhale [@OmniWhale#4989] ECA_Frog [@ECA_Frog#8988] Onespiral [@Onespiral#2873] Electra Wire [@Electra Wire#1972] Patrick [@Patrick#5252] 30

Randall Flagg [@Randall Flagg#9820] WillyDWhale [@WillyDwhale#2471] SirStagg [@SirStagg#3930] ZachDaMan [@ZachDaMan#7268] Sprite- [@Sprite-#8903] Diemon [@Diemon#9910] Electrans Members of the community with voting rights, ECA investors who participa- te in community decisions, formulate proposals and suggestions, and autono- mously manage marketing channels in a decentralized way. Adam360 [@Adam360#2926 ECA Penguin [@ECA Penguin#8261] adolist [@adolist#2441] ECA Walrus [@ECA Walrus#3342] ajdeca [@ajdeca#7711] ECA Whale [@ECA Whale#7571] alfm27 [@alfm27#1080] ECAstronaut [@ECAstronaut#6712] Amarin [@Amarin#8429] Eisenberg [@Eisenberg#1461] antwonr15 [@antwonr15#6311] Electric Type [@Electric Type#4326] B.Selvi [@B.Selvi#8923] Eskydar [@Eskydar#3302] bigman19916 [@bigman19916#6798] Flow [@Flow#0306] BillySquire [@BillySquire#2555] grant2cool [@grant2cool#3338] BitJack77 [@BitJack77#13] Gulrokacus [@Gulrokacus#9849] buddyman1125 [@buddyman1125#3335] hyppaface [@hyppaface#5750] Casino Knight [@Casino Knight#1367] jaxteller [@jaxteller#6465] chegevm [@chegevm#6253] JayJay [@JayJay#7073] Coolcovey [@Coolcovey#8682] jjjj666 [@jjjj666#2463] cristianlazarus [@cristianlazarus#7696] joshuahay [@joshuahay#6843] CryptoLuke [@CryptoLuke#7069] Junky [@Junky#4356] Devoid [@Devoid#9341] kL4RiWolf [@kL4RiWolf#2159] LAZA DigitalByte [@\DigitalByte\ #2118] [@LAZA#5333] DVSN [@DVSN#5471] linuziii [@linuziii#7858] ECA Ape [@ECA Ape#0242] lucacrea [@lucacrea#8413] ECA Psychic [@ECA Psychic#9137] MadAreYou [@MadAreYou#6263] ECA Axolotl [@ECA Axolotl#4976] MaffeProg [@MaffeProg#1162] ECA Giraffe [@ECAGiraffe#5553] manu2424 [@manu2424#4359] 31

marky mark [@marky mark#9217] Ronan [@Ronan#6229] meansofcrypto [@meansofcrypto#3224] Ruru [@Ruru#9895] mec1988 [@mec1988#6670] Sergey [@Sergey#2762] Menardi [@Menardi#2514] shosa [@shosa#3836] moonswamp-coin8coin [@moonswamp-coin8coin#8794] Skalizar [@Skalizar#5548] Mr. Underhill [@Mr. Underhill#6018] SomeGuy [@SomeGuy#3909] nashsclay [@nashsclay#6809] Stephen [@sms19#6542] Nika_Smouzh [@Nika_Smouzh#2469] Tim B [@Tim B#2383] nwaribo [@nwaribo#2193] TNmissionary [@TNmissionary#1316] Obese to Physique [@Obese to Physique#8345] UsmanHussain [@UsmanHussain#1136] papajoelius [@papajoelius#3962] Wayno717 [@Wayno717#5756] Paul [@Paul#1682] yuliasih [@yuliasih#1205] PIP [@PIP#6562] ZachDaMan [@ZachDaMan#7268] Powerade [@Powerade#2852] Zarag (Quokka) [@Zarag (Quokka)#2781] Rayman [@Rayman#6865] ZorgThePencil [@ZorgThePencil#8182] Founder’s Vision ”The main goals I had when creating Electra was for it to be able to remain active indefinitely and easy to use. A key component to achieve these goals is an active community. In less than a year, the community has progressed immensely and is a completely self-governing entity that can act without my interference. The whitepaper itself is written by the community which may be a first in the blockchain sector. The current parameters of Electra take into ac- count security, privacy, speed and efficiency. It is a solid template to build upon. The new community roadmap is ambitious and aims to make Electra a premier cryptocurrency. For these goals, as well as my own, the development team has been expanded and will also eventually become self-governing. Just as I have done so far, I will aid Electra’s expansion and provide funding when necessary for future endeavours.” Electra01 32

Updates and Upgrades to this Whitepaper The Open Paper This White Paper does not end here. Electra’s White Paper is the beginning of a much more comprehensive shared document known as an “Open Paper”. The Open Paper will be the reference technical sheet for the Electra Project and will be open to contributors to ensure ongoing development. The Open Paper is available on Github within the official Electra Project page and is available for all who wish to contribute to the growth of the project. https://github.com/Electra-project/Electra-Open-Paper/blob/ master/ElectraWhitePaper-TheOpenPaper.md The Electra Community, in collaboration with Electra’s Core Team, is committed to reviewing and updating the Open Paper and implementing additional propo- sals and projects on a monthly basis, starting with the release of our White Paper. Every user is called upon to contribute. If you disagree with suggestions proposed please feel free to express your opinion and provide your constructive criticism. Your input and feedback are the driving force behind Electra’s development. Next White Paper update: February 28, 2018 33

Disclaimer Copyright ©2018. Electra Project (Electra). All Rights Reserved. Permission to use, copy, modify, and distribute this softwa- re and its documentation for educational, research, and not-for-profit purposes, without fee and without a signed licensing agreement, is hereby granted, pro- vided that the above copyright notice, this paragraph and the following two paragraphs appear in all copies, modifications, and distributions. Contact The Electra Development Team [email protected] for commer- cial licensing opportunities. IN NO EVENT SHALL ELECTRA BE LIABLE TO ANY PARTY FOR DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, ARISING OUT OF THE USE OF THIS SOFTWA- RE AND ITS DOCUMENTATION, EVEN IF ELECTRA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. ELECTRA SPECIFICALLY DISCLAIMS ANY WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE SOFTWARE (WALLET) AND ACCOMPANYING DOCUMENTATION, IF ANY, PROVIDED HEREUNDER IS PROVI- DED “AS IS”. ELECTRA HAS NO OBLIGATION TO PROVIDE MAINTENANCE, SUPPORT, UPDATES, ENHANCE- MENTS, OR MODIFICATIONS. CONTENT PROVIDED THROUGH THIS WEBSITE AND ITS SIDE RESOURCES ARE FOR INFORMATION PURPOSES ONLY AND SHALL NOT BE LIABLE FOR ANY INACCURACIES,TYPO- GRAPHICAL MISTAKES. WE THEREFORE HOLD NO RESPONSIBILITY, LIABILITY FOR YOUR USE OF THIS WHITE PAPER AND ITS CONTENT. THIS SERVICE/ASSET/SOFTWARE SHOULD NOT BE USED FOR PARTICIPATION/PURCHASING OF ILLEGAL GOODS,DRUGS AND ACTIVITIES, AS IT IS STRICTLY PROHIBITED. CONTACT US: [email protected] 34