ECash (XEC) - a rebranded version of Bitcoin Cash ABC (BCHA), which itself is a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It calls itself "cryptocurrency that is designed to be used as electronic money”.
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What is ECash (XEC)?
ECash aims to be a transactional medium, used to pay for goods and services. The coin was renamed on July 1, 2021 and has since attempted to distinguish itself from its predecessor. The base units of eCash are called "bits" and replace the cumbersome decimal value of Bitcoin Cash ABC. Instead of sending 0.00001000 BTC, you would send 10 bits with eCash. Cryptocurrency developers have set their sights on three main improvements:
- scaling transaction throughput from 100 transactions per second to over five million transactions per second;
- improving the payment experience by reducing transaction finality time;
- extending the protocol and creating updates without a fork.
The company is integrating a proof-of-stake (PoS) consensus layer, called "Avalanche", that cannot be mistaken for the Avalanche (AVAX) blockchain. After the rebranding, eCash announced that it will convert all BCHA coins to XEC at a ratio of one to a million.
Project opportunities
ECash (XEC) is led by its lead developer, Amaury Seche, who was the lead developer of Bitcoin Cash (BCH) and forked the blockchain to create eCash's predecessor, Bitcoin Cash ABC (BCHA). This fork happened on November 15, 2020. Sechet decided to rebrand Bitcoin Cash ABC to establish a new brand identity for eCash, explaining that decimal reduction would help with coin acceptance. eCash (XEC) developers intend to maintain interoperability of the Ethereum Virtual Machine (EVM) and be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH).
To make the coin successful, the developers intend to perform several main tasks:
| 1 | Ensuring anonymous and immutable transactions. |
| 2 | Guarantee that transactions will remain almost free. |
| 3 | Providing globally secure transactions with less than three seconds completion. |
Moreover, the developers plan to design the infrastructure of the coin as a public good, funded by its social contract. These very ambitious decisions will enable eCash to have up to 50 transactions per user per day for 10 billion users.
Platform tokenomics
There is no eCash (XEC) tokenomics, but it follows many of the same rules, already set for Bitcoin (BTC). It shares the Bitcoin supply and distribution model, meaning that every 210,000 blocks, miner rewards are halved. ECash (XEC) is available for purchase through:
- Binance;
- Huobi Global;
- OKEx;
- Mandala Exchange;
- Upbit.
Available trading pairs - XEC/USDT, XEC/BUSD. The XEC coin can be both staked and mined on computing devices. This is far from the only project, using both PoS and PoW.