What is ECash (XEC)? Learn more about XEC coin

• Overview of eCash (XEC)
• What is eCash (XEC)?
• What is Bitcoin Cash?
• Main features of eCash
• Development roadmap of eCash
• eCash's project development team
• General information about XEC
• Basic information about XEC
• The safest place to buy, sell and store XEC coin today
• summary

Overview of eCash (XEC)

What is eCash (XEC)?

eCash is a blockchain platform that works on the Proof of Stake (PoS) consensus mechanism . Before that, eCash was known to everyone as Bitcoin Cash ABC, a fork of Bitcoin Cash (BCH). This name change marks a complete innovation in technology, vision, goals of eCash compared to Bitcoin and Bitcoin Cash .

The goal of the eCash ecosystem is to be a simple, fast and secure payment service for international transactions and payments.

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency created in August 2017, after the Hard Fork of Bitcoin. Bitcoin Cash works similarly to Bitcoin's blockchain, but Bitcoin Cash's block size is much larger than Bitcoin's, allowing more transactions to be performed at a cheaper cost.

On November 16, 2018, Bitcoin Cash Hard Fork split into 2 new blockchains, Bitcoin Cash SV (BSV) and Bitcoin Cash ABC (BCH).

By November 2020, the Bitcoin Cash Hard Fork will take place again. Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCHA) are 2 blockchains born after this event. Bitcoin Cash Node (BCHN) chain with majority support from miners will be recognized and officially called Bitcoin Cash (BCH).

Main features of eCash

Avalanche

eCash uses Avalanche's consensus algorithm, allowing the network to process instant transactions, enhance security, and fork-free upgrades. Avalanche also helps eCash create a decentralized governance mechanism that is both administratively and technically sound.

Staking

By using a different Proof of Stake algorithm than Bitcoin Cash's Proof of Work, users can stake XEC coins to receive rewards as well as contribute to the governance, operation and security of the eCash network. .

Administration

Revenue from the network will be reinvested in eCash's infrastructure and ecosystem construction and development projects. This fund will be allocated by the Global Network Council (GNC).

eTokens

eCash allows users to create their own new and tradable tokens, called eTokens. eTokens is similar to other token standards such as Ethereum's ERC-20, Binance's BEP-20, Solana's SLP… all compatible with decentralized finance (DeFi) applications and payments. Anyone can deploy eTokens with custom token names, symbols, decimal places, tokenomic parameters, supply and distribution models, and more.

Users can easily create their own eTokens for the cost of just one eCash transaction. Moreover, the cost to launch eTokens is also very small, maximum support for new crypto projects to launch their tokens.

New currency

Instead of using satoshi as the smallest unit like Bitcoin and Bitcoin Cash with 8 decimal places. eCash's XEC uses a new currency that is a 2-digit bit.

CashFusion

eCash uses the CashFusion protocol which increases money privacy for its platform. CashFusion both provides anonymity while maintaining a verifiable and traceable supply. This protocol can also be turned on or off at any time in Electrum ABC.

Development roadmap of eCash

The eCash development team is committed to continuously improving engineering and technology through protocol upgrades and optimizations. These improvements can be divided into three main categories:

• Scaling transaction throughput (from around 100 transactions per second to over 5 million transactions per second)
• Improved checkout experience. All transactions will be made instantly and secured within 3 seconds.
• Extend the protocol and establish future fork-free upgrades to support the DeFi economy.

These upgrades and enhancements happen twice a year, on May 15th and November 15th. Instead of taking place at a specific block height, the project uses a timestamp model to minimize pulses. for businesses and developers. Future updates include the Ethereum virtual machine (EVM) subchain with scalable smart contracts, enhanced opcodes, new transaction formats, and extended features for developers.

eCash's project development team

eCash was created by a group of experienced Bitcoin developers who founded Bitcoin Cash, and the most important name is Amaury Sechet.

Sechet was a software engineer at Facebook and a lead developer at Stupid D Compiler. He is also a very active programmer in the development of Bitcoin Cash before.

After a period of Bitcoin Cash operation, Amaury Sechet wants to divide 8% of the mined money from miners into a project development fund under his management.

This proposal gradually became controversial in the Bitcoin Cash community. To solve it, they chose to do a Hard Fork. The end result was the birth of eCash.

General information about XEC

On July 1, 2021, Bitcoin Cash ABC (BCHA) was renamed eCash (XEC). Along with the upgrade, all user BCHA coins will be converted to XEC at a rate from 1:1000000.

Formerly BCHA coin, a coin fork out of Bitcoin Cash, the amount of XEC in circulation will also correspond to the amount of Bitcoin Cash available on the market. However, due to the change of the consensus mechanism to PoS, the remaining amount of XEC will be generated and distributed through the process of users staking XEC coins into the system. eCash also follows the same halving schedule as Bitcoin, with the reward halving occurring every 210,000 blocks.

Basic information about XEC

• Token Name: eCash
• Ticker: XEC
• Blockchain: eCash
• Token Type: Utility, Governance
• Standard Token: eTokens
• Initial Total Supply: 21,000,000,000,000 XEC
• Circulating Supply: 19,080.692,173,303 XEC

The safest place to buy, sell and store XEC coin today

Currently, XEC is being listed and supported for trading on many major cryptocurrency exchanges such as Binance, Upbit, OKX, Gate.io, Huobi...

To store XEC, you can create a wallet at https://xecwallet.org/ , You can also store XEC directly at the wallets of exchanges that support trading this coin.

summary

Above is the basic information about the eCash project and the XEC coin. As a continuation of the Bitcoin Cash project, eCash aims to become the best DeFi platform and ecosystem with many unique features. Using the Avalanche consensus algorithm and the CashFusion protocol, eCash provides users with a completely secure and private payment experience. Furthermore, eCash also provides developers with a simple process and many development tools to deploy their own native eTokens on the eCash chain at the most optimal cost.  

For more details about the project, readers can view information at the media channels:

Website | Tw i tter | Telegram | Reddit |  Github | Facebook | Discord