Probably the most reliable and non-laggy explosion effect.
Bullet spawns couple of circles with tracers attached. Circles have extremely high angular velocity and negative air friction multiplier. They accelerate the rotation even further, reaching inf rotation speed and deleting themselves.
Slight changes in starting angular velocity can control how long the circles stay on the scene.
NO collision group is used.
This is proof of concept, so no smoke/shockwave/other fncy things, only the effect itself, to make script clear. But I'm certainly going to use this.
Performance is good too, I needed 50 explosions at once to slow down the framerate considerably, and my PC isn't very fast.
Comment and rate if this is useful.