More and more people are using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), or Ripple (XRP) to pay for services and products. The problem: In the past, paying with these old blockchains was impractical. A crypto transfer often took many minutes and, depending on the blockchain, cost up to several dollars in fees. This is over now: XEP is the new digital money.
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Pay via XEP (Electra Protocol)
Instant Transfers Almost Free of Charge
With the introduction of new types of cryptocurrencies that are specially designed for payment, long transaction times and high fees are a thing of the past. Using Electra Protocol, payments are received worldwide within a few seconds thanks to its own monetary unit, XEP. And that with almost no fees: A transfer of any amount of the XEP crypto currency almosts costs nothing: US $0.000000452 (0.000226 XEP in November 2021). Therefore, digital money such as XEP are used in particular for transfers to other countries or while being abroad. High costs are a thing of the past, which providers like Mastercard, Visa, Western Union, or Paypal have.
By using a XEP wallet, instant payments can now be made via XEP. In a few months it should also be possible to pay in many other currencies directly via a XEP wallet.
If you do not have any XEP credit as a user, you can of course build up XEP via crypto exchanges. More and more investors are also holding XEP as an investment in order to participate in future increases in value.
Programmable Money Is Developed
Regardless of the prospects for XEP as a means of payment, the introduction of smart contracts is still eagerly awaited. This means that in future it will be possible to program contracts using Electra Protocol, just like using Ethereum, which is the world’s second most important crypto currency. In contrast to the outdated Ethereum blockchain, Electra Protocol is extremely fast and inexpensive.
The real-time transactions and cheap transfer costs can create a variety of use cases which will make it likely existing smart contract projects will be shifted from Ethereum to Electra Protocol. So great prospects for the further development of a global, programmable payment system.
Planned: Users Define the Currencies Used
However, the creators of the Electra Protocol blockchain give a completely different solution the status of the killer feature: When carrying out a transaction, the participants can soon decide in which currencies the payment will be made. Say: BTC in, ETH out. Or: XRP in and ADA received. And, almost unbelievable: any supported fiat currency in, and out as well (for example Euros, US Dollars, etc.). With this bridging functionality, Electra Protocol can also become what many are currently looking for: an ultra-fast, almost free, and globally usable means of transport for virtually all types of digital assets, without needing a bank account.
Payments will optionally include a legitimation check, should this be necessary due to regulations. So it’s perfect for anonymous and non-anonymous online payments. This could also mean . In addition, the transaction costs are burned, which means the internally used crypto currency XEP of Electra Protocol is deflationary.
Theoretically, Electra Protocol could be used for trading all other crypto currencies on centralized and decentralized crypto exchanges, for example to avoid exchange costs when using stablecoins or when stablecoins are regulated by governments or even crash.
There are exciting times ahead. #datamoney #XEP
Please note the disclaimer of liability: The information of SKYLINE ATLAS on this website and any other means of distribution does not constitute investment advice, financial advice, trading advice, or any other type of advice. The publisher explicitly does not recommend that you buy, sell, or hold certain financial assets. Do your own careful research and consult your financial advisor before making any investment decisions.
More information on how to get cryptocurrency trading data for professional use: crypto market data.
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