Development & Marketing Update for December 2019

Welcome to another monthly update on the progress made by the Electra Team! As we head into 2020, we would like to express how grateful we are for the support that our community has shown to the Electra Project over the past year. While we are still in the early stage of our journey, the Electra community has already become the best community that any one of us has ever known. For that, we are incredibly grateful, and on behalf of the entire Electra team, we would like to wish you and your family a happy new year.

The Electra Foundation board meeting

The Electra Foundation had its last meeting for 2019.

Board meeting Electra Foundation (Stichting Electra Project)

December 8th 2019 — Breda, The Netherlands


  • Bob van Egeraat Chairman
  • Robert Bakker Treasurer
  • Raymond Vlieland Secretary

Distribution of roles of board members in 2020

Under the articles of association, the board is obliged to change positions every two years. For this reason, it has been decided that as of 1 January, Robert Bakker will be the acting chairman, Bob van Egeraat secretary, and Raymond Vlieland treasurer.

Who will continue to manage the foundation wallet?

In spite of the change in board positions, board members decided that it would be smarter to keep all technical matters with Bob van Egeraat. The management and safekeeping of the wallet will, therefore, not change. However, all board members have access to the foundation wallet for security reasons.

Apple ID license

In order to add the iPhone app in the App Store, an Apple ID license is required. For this reason, it was discussed whether someone still has an Apple ID that can and may be used for this purpose. Raymond has indicated that he thinks this is fine. Bob and Raymond agree to have contact about this the next day.

Incentive for team members

There was discussion as to whether or not to reward contributing team members for their energy and commitment in 2019. The decision was made to reward 75 USD worth in ECA to all contributing team members. The incentive does not apply to board members, as described in the articles of association, and can be declined by the receiver of the reward.


The Foundation, along with other projects, is recognized as valuable a partner to advising Grant Thornton in the matters regarding Cryptopia. So far, the locked ECA in the cold wallet remains unmoved. It is the aim of both Grant Thornton and Cryptopia to return these coins back to the rightful owners once all internal issues have been resolved.

The liquidator of Cryptopia, Grant Thornton, recently released a report that outlines the progress of the liquidation. This report can be found on the following link:


We are looking into whether or not CryptoBridge’s actions towards shutting down their business and the upcoming liquidation, have been done a proper and legal fashion. It is not the Foundation’s aim to press charges in case their actions are illegal since the coins don’t belong to the Foundation or the Electra Project. We do feel the responsibility to investigate possibilities to reclaim the locked funds and inform those within our community that missed the deadline to withdraw the funds from the exchange.


Coinbene informed Electra Project that ECA would be delisted due to low volume. Along with our legal partner, Agile Legal, we informed them that this is a violation of the listing agreement that was duly signed in the summer of 2018. Coinbene acknowledged our argument and told us that ECA would remain listed.


A two-hour brainstorm session was organized this month to discuss the commercialization of ElectraPay technology. Unfortunately, the meeting had to be postponed and will be rescheduled in the new year. We do want to state that we are extremely happy with this partnership and, in particular, the contact moments we have had with Ben Fairbank.

Electronic Transaction Association (ETA)

Our membership with ETA has been renewed, and Ruru was excepted to serve on the Mobile Payments Committee. Robert has also applied to serve as a committee member in 2020.

Friends of Electra

The Friends of Electra campaign ended on 31 December 2019. The cap of 2.5 BTC was not reached. However, we did raise sufficient funds that helped us in getting listed at four exchanges, as well as to create and initiate marketing material and campaigns. We would like to thank everyone that donated!


Coinfalcon decimal change

In order to align with other listed exchanges, the Electra order book was rearranged with no decimal size and nine decimal price indication. This has allowed for a cleaner look of the order book for Coinfalcon users.

Crex24 listing

Electra won the competition, which is organized by Crex24 exchange and was listed with a paring of BTC.



  • Announcement of the ElectraPay MVP was released
  • First tests in live environment are expected to start in January 2020
  • We have begun creating documents to use for possible large scale use and to more of profit-making model

iOS Mobile Wallet release

  • iOS wallet development was completed.
  • A testing group was out into place in order to stress test the wallet. This group was very efficient.
  • We have discovered and quickly resolved some UI and translations issues.
  • The final release has been built and is approved to be listed on the Apple App Store.

Electra Explorer

  • The addition of a new server with more efficient hardware has been set up.
  • The explorer performance has been increased, which addressed such needs as capacity. Previously only the last 100 blocks and the last 100 transactions for an address were displayed. Now the whole history is viewable.
  • Crex24 “live” market is integrated, which updates each minute. Additional exchanges will follow.
  • UI has been upgraded, allowing for easier reading of all available information.


We started fine-tuning of our website in terms of speed and optimization. We have included coin tracker links into our header menu so that users can easily find various resources and metrics from multiple analysis websites.

A new roadmap page is being integrated as the Trello API does not provide a proper display possibility. It is our aim to change the temporary design with an easier to read and understand one in the upcoming weeks. As of right now, our community can continue to track tasks and at what percentage stage the task is at.

Electra University

  • Additional content has been added
  • The addition of ElectraPay information is starting to be added
  • This project has been renamed from Electra University to Learn Electra

News from the Market

A third party source has determined that Electra is among the top 23 in the crypto market in terms of live active nodes. This ranking is an indication of a strong network, as the majority of the coins that ranked above Electra have master nodes. Master nodes attract users to stay online with a high staking ratio. The most promising part is that Electra ranked in this list without having any Master Nodes.

Details on this market research can be found on the following link:

The Electra Team

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