eCash (XEC) Research

eCash (XEC) Research Details

eCash (XEC) eCash

INTRODUCTION

eCash (XEC) is the new name for Bitcoin Cash ABC (BCHA), which was created by splitting Bitcoin (BTC) and Bitcoin Cash (BCH) (BCH). It identifies itself as a "cryptocurrency meant to function as electronic cash." eCash is intended solely as a payment method for the purchase of products and services. The coin was relaunched on July 1, 2021, and since then it has attempted to differentiate itself from its predecessor.


HISTORY AND FOUNDER

eCash (XEC) is run by its lead developer Amaury Sechet, who was also the lead developer of Bitcoin Cash (BCH) and forked that blockchain to create Bitcoin Cash ABC, eCash's predecessor (BCHA). That fork occurred on November 15, 2020. Sechet then decided to rename Bitcoin Cash ABC to create a new brand identity for eCash. He said that reducing the number of decimal places will aid in the coin's adoption. 

Sechet was very involved in the development of Bitcoin Cash. He led its first split from Bitcoin in August 2017, its continuation after Bitcoin SV (BSV) split from it in November 2018, and its last split from Bitcoin Cash in November 2020. Before he got involved with cryptocurrencies, he worked as a software engineer at Facebook and as the lead developer at Stupid D Compiler.


REASON TO BUILD THE PROJECT

There are a lot of problems that eCash wants to solve in the market. For one thing, the project was created to help reduce investor misunderstanding. Users may be confused by projects like Bitcoin due to their unusual format and unique technical nature. There are new words and symbols, which all add to the technical barriers to adoption. Recognizing these concerns as obstacles, eCash's developers decided to maintain a 2-decimal layout that mimics fiat currency.

Hard forks, high fees, and lack of privacy are the other factors that cause investors to suffer by any means possible. Ecash eliminates all these problems by combining Avalanche Post-consensus mechanism and by integration of the Zero-Knowledge subchain.


BASE OF PROJECT

  • Consensus- eCash utilises a hybrid consensus mechanism that relies on both Proof-of-Work and an Avalanche Proof-of-Stake system. The scalability of Avalanche enables low-fee txs even when network traffic is heavy, and cuts confirmation time to near-instant.

  • Governance- The team reinvests all eCash profits in the ongoing development of the project and continuously enhances the properties of the cryptocurrency. Global Network Council administers the allocation of all funding annually (GNC).

  • Etokens- ECash allows its community to issue its own tokens. Users can define all of the token's properties on the dashboard, including its name, supply, decimal places, and logo. They can then trade and use the tokens. This feature is very helpful for businesses that want to try out the cryptocurrency market.

  • CashFusion- As eCash is concerned about user privacy, it supports the CashFusion protocol. It provides network privacy control and permits private transactions. Part of the CashFusion protocol is a Zero-Knowledge Subchain, which keeps privacy and security high.


USE CASE

XEC is the main digital currency and utility token for eCash. This powerful cryptography can be shared around the world in a safe way in a matter of seconds.

Furthermore, the token is used to pay for smart contract execution and network costs. Staking rewards users with XEC, which is exchanged on multiple major marketplaces.


CONCLUSION

The eCash network is the most recent innovation from the minds behind the Bitcoin Cash project. The network integrates decades of experience with the most recent technological developments. As a result, it provides greater scalability, security, and effectiveness than its predecessor. As eCash's network continues to draw in more users and developers as a result of its beneficial features, you can expect to hear a lot more about it.


DISCLAIMER

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto products are currently unregulated and subject to market risk. Please seek independent financial advice or do your own research before investing.