Let’s examine the uses, benefits, and potential rewards from Electra. Below are ten reasons why I believe this coin will be a great contender in 2018.
- Electra uses a NIST5 hashing algorithm.
Electra chose to use NIST5 as its hashing algorithm. This recently developed algorithm 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, Grostl, JH, Keccak/SHA-3, and Skein. NIST5 was created fairly recently, and immediately saw use by other coins. For a 280X GPU, the algorithm uses 175W and operates around 57 degrees celsius. Compare this to the SHA3 algorithm--this works at 278W and 72 degrees celsius. SCRYPT runs at even higher energy usage! NIST5 will be making waves this year.
- Wallet UI is due to be upgraded in Q1 2018.
We all know that UI and Graphics means quite a lot in the crypto world. Flashy graphics and detailed artwork give this coin a sense of legitimacy. At the moment, the wallet is a simple open-source UI that doesn’t do much for the eyes but this will all change in just a few weeks. I know certain investors can be turned off by the UI of the wallet. It is clearly bare bones and open source but we must remember this--as the coin increases in value the team’s value increases as well. Graphics are great for catching the public’s eye but what really counts is speed. Which brings me to my next point…
- Coin Transfer is Nearly Instant.
Right after purchasing ECA from CoinsMarkets, I downloaded the wallet. The entire blockchain history downloaded in under one minute. The wallet runs seamlessly, I’ve had it open for 3 days and my staking position is increasing nicely. I sent my coins over from the exchange and literally arrived in under 3 seconds.
- The Electra Wallet is Very Simple to Use
A deposit address was created for me, I don’t need to worry about seeds or complicated addresses. I simply open the wallet, deposit coins, and then backup the file. This has great potential for mass adoption due to its simplicity. The number one concern clients bring to me has to do with seed creation. This concept is still scary for brand new adopters. A good wallet can overcome this coin.
- Atomic Swaps are Due To Be Implemented Soon.
2018 is going to be the year of the Alts. The last day of 2017 and the first of 2018 prove this fact. Atomic swap implementation allow cross-currency trading without the need for a third party or exchange. As more coins can be traded directly (i.e. Raiblocks for Neo and Stellar Lumens for Electra) an entire mesh net of currency is created. No need to waste time, energy, and speed on annoying transfers. What wins in crypto? Speed, ease, security, and energy use. Electra shines in all of these factors. Allow it to be traded for other alts and this coin will be a top contender for 2018.
- Tor Implemented Wallets Coming Q2 2018
Privacy coins are going to be huge in 2018. Coins that have the optional privacy integrated with a public wallet are going to be even bigger. If your coin can serve the purpose of Monero with a faster transfer than RaiBlocks, which coin will you choose? You only need one coin and one wallet. Pay for public transactions with no sweat, go private if the need arises. Built over TOR, this will be an attractive feature in 2018.
- iOS/Android Wallet Release In Q2 2018
The potential for mainstream crypto adoption in 2018 is absolutely massive. The mobile world of crypto investing is currently bogged down by having one main distributor. The Coinbase mobile app exploded in popularity right around Bitcoin’s departure from $10,000. The masses are still coming. They are all dying to buy these coins! By Q2 2018, crypto will have survived the bubble myths and adoption will be much easier. FairX exchange is coming soon and will offer much more than the current standard of Coinbase.
- NIST5 Has Huge Marketing Potential
Have a look at the number of coins using NIST5 here. There’s a total of eight. Eight coins are using the algorithm that is lowest in energy usage. There’s marketing potential just within the hashing algorithm! The public saw quite a lot of Bitcoin news last year. One of the main stories they haven’t forgotten? Bitcoin’s massive energy use and inefficiency. NIST5 solves this problem and provides a huge selling point for ECA.
- Payment Gateway Integrations Arrive
Merchants online and in retail will be able to accept Electra as payment. Following the integration, Boost phase two is scheduled to start. If all of this goes well, Masternodes will be implemented at the start of Q3 2018.
- The Current Value of ECA is Directly Correlated to its Acquisition Difficulty.
Currently, this coin can be purchased from only a few exchanges. Coinsmarkets is a legitimate and safe exchange--even if the UI is terrible. Coinsmarkets is easily comparable to EtherDelta. Scary, a bit sketchy and full of “scams”. This is where the investor must step aside from emotion, compare previous market forces, and then make their own competent decision.
Remember, you’re not supposed to be investing anything you can’t lose. Don’t let that stop you. RaiBlocks was on BitGrail (or coloquially, ShitGrail) and we’ve now seen profit levels not expected until March 2018. Fortune favors the bold. Think of the ones who missed RaiBlocks just because of the exchange’s UI and apparent untrustworthiness. Yes, the exchange had massive flaws and still scares people away. Don’t be scared. Be bold. Electra can deliver and even a small investment at this point could produce massive returns.
At 38 satoshis, this coin has nowhere to go but up.