eCash is a digital currency formerly known as Bitcoin Cash ABC (BCHA). It is a cryptocurrency created to be a method of exchange that enables people to buy and sell online without the need to have a bank account. It is designed to be used as electronic cash, eCash makes it possible to send money directly to other people online.
The project aims to redefine wealth and become the most preferred electronic cash platform worldwide. To enhance its adoption globally, the developers designed politically decentralized governance for the eCash protocol, they intend to reduce the influence of the government or central authority. The platform plans to provide a decentralized cash flow system from one user to another user through the electronic medium. Also, one of the factors that contribute to the mass adoption of eCash is its usage of bits. Bits make it easy to carry out small transactions without confusion, a confusion that occurs when users have to deal with money in decimal places such as 0.00002000 BTC instead of regular numbers such as 20 bits
To achieve its goal, eCash utilizes a proof-of-stake consensus mechanism known as Avalanche, not to be confused with Avalanche (AVAX) blockchain. Avalanche is an algorithm that enables instant transactions with improved security. The algorithm allows a fork-free upgrade of the cryptocurrency and the consensus layer enhances scalability on the platform and offers the network capabilities of more than five million transactions per second (TPS).
The project’s tokenomics is similar to bitcoin’s because the developers will not employ the burning mechanism to decrease supply (to increase the value), the developers consider the cryptocurrency valuable enough without this procedure. Also, the platform supports tokens that anyone can generate and trade. Users can instantly create their tokens. Users can create the token with their name, decimal places, and icon.
Who are the founders of eCash (XEC)?
The team behind the project is well-experienced in the technology sector. eCash is developed and maintained by Bitcoin ABC, a team of professional industry-leading bitcoin developers
Amaury Sechet, the lead developer, worked previously at Facebook as a software engineer before proceeding to develop Bitcoin Cash (BCH). Sechet played an active role in forking the blockchain in 2017 and then in 2020 to start the Bitcoin Cash ABC project. He also initiated the rebranding of BCHA into eCash.
What is eCash (XEC) used for?
eCash aims to become a cryptocurrency that can be used as electronic cash in everyday life. The developers consider eCash primarily as a means to send and receive payments internationally. In their opinion, it is very useful for cross-border payments as users do not need to have bank accounts to carry out online transactions.
How is eCash(XEC) unique?
Users of eCash do not have to worry about the risk of inflation that is usually caused by the release of the coins that are held by the developers. Unlike many similar projects where the developers hold the majority of the coins’ supply, eCash’s team has just a small amount of the coins. Also, the risk of value loss is minimal because about 90% of the coins have been released. It has a limited supply
The platform’s usage of the Avalanche consensus layer and its adoption of innovations such as staking, fork-free network upgrades, and subchains are never seen before in a bitcoin project.
How many eCash (XEC) are in circulation?
The native token used on the platform is eCash (XEC). This enables users to transfer money directly to other people online and pay for products and services. It is also used for staking within the network’s governance system
It has a circulating supply of about 19,220,212,000,000 bits (XEC) tokens and a total Supply
21,000,000,000,000 bits (XEC).
How is the eCash network secured?
According to the developers, the launch of Avalanche Post-Consensus on the eCash Mainnet is a significant achievement as it enables instant transactions and it provides enhanced security. The Post-Consensus brings 51% attack prevention which increases the security of the network significantly, bringing it on par with leading Proof-of-Work chains.”
Also, the platform provides anonymity by using the CashFusion protocol. A protocol that offers anonymity to the leading privacy coins.
How do I buy eCash (XEC)?
The eCash(XEC) token can be used for a wide range of uses, like staking and payments.
eCash(XEC) tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform of your choice.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy eCash(XEC) through your trading account.
Which Cryptocurrency Wallet Supports eCash (XEC)?
The PTPWallet platform supports many cryptocurrencies with eCash soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, supported by both Android and iOS devices, and comes with its own mobile wallet app.