What is ECA?
Before we jump into the details, let’s have a look at what this cryptocurrency aka Electra is really made of. It is a POW or POS mixed coin made with an amalgamation hybrid that uses a specific set of the NIST5 algorithm. It is designed through a five-stage algorithm process developed by the National Institution of Standards and Technology of America. The algorithm is very complex and long ended so it practically makes this cryptocurrency impossible to break or modify.
The many stages of the process are implemented to make sure that the currency is safe, effective, efficient, transmissible, adaptive and most importantly safe. This is one of the best cryptocurrency that follows the complete five winners criteria making is a very desirable currency. The performance is maximized with the help of the shifting capabilities which enables the users of this currency to have a stable value of the currency.
Introduced in early 2017, Electra has been able to grab the attention of the buyer with its unique coding and security measures. The bitcoin talk introduced it as the unbreakable asset which speaks for the high performance and security of this currency. The staggering annual return rate of 50% has also been a major driving force for the buyers who have never experienced such secure buying rates.
The Technical Overview ECA Coin
To better understand the use of the ECA coin, you must know the components and the whole structure of the coin. It will help you to properly identify and care for the dimensional aspects of the coins.
Basically, the Block Size of the coin is nearly 1MB in usual. But it can be increased to make it even more encrypted. The coins can be made up to 2MB block sizes with the help of the open paper. This is a fairly new edition to the whole process
The coins take an average of 5 minutes as the Block Time. So, if you calculate that, you can make up to 288 blocks in a day without any hassle. With the new implementation, you can now speed up the process of the block making and take it to 90 seconds for each block.
There is a limit in the Maximum level of coin Supply as well. You can supply or deliver up to 30,000,000,000 coins and not more. These are strict rules by the American Standards Institution and you need an open deed to have more coins than the amount you gave.
About 3.34 percent of those coins are already mined. Meaning that the coins are being sold off pretty quickly if you compare the ratio with the other cryptocurrency. This amounts to a staggering 1,000,000,019 that has been pre-mined.
Critical Points to notice
ECA was originally a hybrid network. It consisted of both the POW and the POS at first. However, the first stage of these network implementation AKA the POW stage is almost ready. So, it is only identifiable with the POS and this medium is all that the ECA coin carries. It occasionally holds the First in First out pre-mine techniques and offers big rewards. There has been major criticism made about this technique and many believe that it is not a solid way to attract the buyers.
The main trouble with the ECA coin developer and managers is that they are not very adept at the marketing level. So, as a result, the community of ECA coin holders is relatively very low. This ultimately creates a very monopoly control and that is the reason why many buyers are not so eager to buy the ECA coins. The early buyers have most of the control and decision making power in their hands which is not very healthy for an open cryptocurrency at all.
The ECA coins also stockpile the whole POS rewards. So, the more you keep your money invested in it, the better chances you have at getting higher paybacks. This might not be a very good idea to attract the new buyers as their fellow buyers who have been the early bird would enjoy a lot more POS reward at the same level of investment.
But, the reason why ECA is still a fan favorite cryptocurrency is that it has very fast transaction and processing speed. The coins are very bulky and very speedy at the same time. Although the exact timing and time of the transactions are not sure. Many suspects that it is one of the speediest cryptocurrency on the planet.
The Good Sides
The main thing that each and every investor must consider is the return rate. From that standpoint, ECA has no other competitors. It has a very high return rate and the return rate is only going to get bigger and bigger. The marketing team is working hard in order to draw more and more attention toward the bitcoin and they did a fine job at that. The community is also expanding and the good thing about the community is that they all are mostly capable of handling the big changes which put the company in a fairly good position.
They monitor the website of Electra and the selling points very professionally. That gives us a hint about their professionalism. This goes a long way while maintaining the buyer satisfaction so ultimately more and more buyers are going to pitch in. Electra prides on its developer team and it is not hard to see why. They have developed and maintained one of the most complex cryptocurrencies on the planet. And thus they are the front runner when it comes to secure their investment as well.
The best thing about the ECA coins is its quick frequency at the difficulty retargeting. The blocks retarget and shuffle the coins every 15 minutes. You can reduce it to 4 minutes and 30 seconds if you have open papers with you.
The regular Fee for all the adjustments is about 0.00001 ECA. Experts expect these fee to rise up even further as the time passes and the premium option comes into play.
Like we have mentioned before, the POS ratio of the ECA coins is probably the best in the planet right now. It has seen huge growth in the market and as a result, it has expanded about 5 percent in the second year and more than 2.5 percent in the third. The POS ratio is also very high at 50% but you will only get 10% after all the adjustments.
The amount of pre-mined ECA coins amounts to around 600,000 dollars. They usually target the community funds to carry out their escrows.
You can not compare the performance of the ECA coins with any other coin. The speed of the transaction has been the talk of the town. It sends the currency in a very fast way. And the coding of the whole process is also very fast. This helps you to send and receive the money without much hassle. The block takes little space and the retargeting time is also very fast so you are getting absolute security on your cryptocurrencies. They can maximize the 1MB block size to a 2 MB spare. If you want to add security then the building time can come down to 90 seconds from a staggering 5 minutes.
The development team is also adept at making necessary changes whenever a complaint pops up. Many people question the prosperity and the future of a new cryptocurrency but Electra put that to rest when it announced the 50% POS return rates. Although the deduction of the rate to 10% was necessary – it still manages to keep the life of the ECA coins in the right place. As soon as they notice any problem they made the adjustments. This puts ECA coins in a very healthy position.
Although the profit rate becomes somewhat low after all the cuts, it is still a fairly good deal at a 10% annual return rate. Not many cryptocurrencies are able to take the game of virtual money so high. The diversity of Electra is also a phenomenon that most find stunning. It can be liquidified so easily that it has become the go-to coin for all the major bit-coiners.
Stick with us to know everything you need to know about this cryptocurrency so that you can make a good judgment on whether to invest it or not. So, without further delay, let’s get started.
The Bad Sides
The ECA faced huge criticism when it revealed that the starting period will only be for 40 days. This is a particularly low rate for the reward and many bitcoin communities addressed this issue. They also severely panned the instant bonus period. People compared it with gambling and said that serious investors would lose their interest if it continues. The actual amount of block necessary to have the reward was not available in these campaigns which many people took as a scam.
The whole project took a further backtrack when they reveal that they will provide only 10% of the POS reward. This is a good percentage but considering that they offered 50% as their advertising campaign, they buyers still felt disappointed. However, the tried to recover the damages by incorporating the cuts into the mix which makes the POS reward rate pretty good.
Many criticize the decisions made by the Electra developers and coordinators. They feel like they are not consistent with their decision which ultimately dropped the growth rate from 5% to a 2.5% which is almost a 50% drop as well. Although Electra is popular for its dynamic developer group. We don’t know how much they actually use in the field. The lack of development and research options are also visible in the project which can be a major downfall.
Before the beginning of the big Bonanza round, the supply of the coin was very low. Hence, the price of the coin rose upwards. But, as soon as this round started, suddenly the supply of the coin went up the roof. So, according to the economic law, the price of the coins has to decrease at that point. But, the developers have little care or attention about the economic law so the price stayed the same.
The community also bashed the centralized control of the ECA coins. About, 66 investors hold more than 66% of the whole bitcoin. The rest hold the other 50%. This makes the whole process a lot centralized and many fear that the authority might take favorable decisions in the process. The centralized focus on the authority has demotivated a lot of the buyers and it will continue to do so unless adjustments are made.
The internal structure is one major flaw that ECA coin has. For the very centralized control unit, the authority couldn’t have a concentrated treatment. This is a very critical point to consider while investing in ECA coins.
The future of ECA is bright and many predict that it would dominate the future market when released in the actual currency world as well. But, the unfair treatment of the early birds might be a troubling issue for many. You need to consider all of these points before you can have a clear verdict on the issue. You should also be aware of the speedy changing policy of the company and the bitcoin as a whole. It might not be too favoring if you are not going to keep regular tracks of your coins.
Should you really invest in it?
To make an educated decision about the cryptocurrency, you need to look after some certain facts. Is the currency seeing enough growth, does it have a strong community, does it have strong developers and marketers, what are the internal structure and are they fair, how in the control authority and so on. So, let’s have a look at each of these points and determine whether to buy it or not.
When it comes to growth rate, ECA is probably one of the fastest growing currency. It saw a dynamic growth of 5% in the very first year and 2.5 percent in the second economic year. Experts believe that it will see further growth in the upcoming years.
The community might be strong but the good thing about this is that they are all well-equipped. All of these investors have seen the bright future of the ECA coins and are now working on a coordinated manner which will ensure the further building of the community.
The developers that are working behind the scene are no match with any other producers. They have made the coins bulky, fast and safe at the same time with amazing retargeting and transaction speed. So, ECA coins definitely have a strong set of developer priority.
Investing in cryptocurrency takes patience, research and most importantly a very well thought out decision. So, before you can make your big jump, be sure that you have all the supporting research materials with your or else you will not be able to make a well-calculated decision. The ECA has a good growth rate but the internal control is stopping it from attracting more and more investors. Once you solve this problem, it could potentially take over the cryptocurrency world.
We hope that we were able to help you with your quince for ECA coins. Be sure to ask us any questions and we will try to get back to you. With that note, we are closing our study. Have a good day.