The eCash History

eCash is a cryptocurrency platform that comes with a title wealth redefined. eCash is used for payments across the globe without a bank account characterized by high-speed transactions. eCash is a continuation of the Bitcoin cash project; the Bitcoin cash ABC network is a team of experienced developers who started back in 2017. eCash project is led by Amaury Sechet, a former Facebook engineer and Bitcoin pioneer. He had a significant role in the development of Bitcoin, and he is the creator of Bitcoin Cash. He introduced the eCash brand in July 2021. eCash is the name of the network, eCash XEC is the native cryptocurrency of the platform, and Bitcoin ABC is a software business that interacts with and maintains the eCash network.

eCash was developed after a hard fork of the Bitcoin cash blockchain. It was initially referred to as Bitcoin cash ABC with the symbol BCHA and later converted into eCash with a ticker symbol XEC.

eCash Overview

Cryptocurrency eCash
Ticker Symbol XEC
Price $0.00007744
Price Change 24H +3.11%
Price Change 7D +3.13%
Market Cap $978,858,503
Circulating Supply 19,073,885,923,303 XEC
Trading Volume $25,544,911
All Time High $0.0005926
All Time Low $0.0000173
eCash ROI No Data

Amaury Séchet is the product leader of eCash network. In his words, XEC has a good store of value and medium of exchange, making eCash XEC superior to money. The complete revenue of the eCash protocol is reinvested for development and technology. Users can create Etoken with their name, decimal places, supply, and icon at a lesser cost. The ultimate aim of eCash XEC is to create money that is usable for every individual in the world. eCash network is integrated with the layer of ‘Avalanche’ proof of stake consensus mechanism that enables instant transactions. Confirmation transaction time is limited to nearly less than one second: enhanced security and fork-free upgrades. Avalanche helped eCash become a technically sound, politically decentralized system.

eCash network supports Ethereum Virtual Machine (EVM compatibility) and improves Ethereum DeFi. EVM allows the user to develop financial applications, products, and services. And its POS consensus removes the need for miners.

Roadmap of Bitcoin Cash ABC to eCash

November 2020 Amaury and Roger Ver parted. Sachet created Bitcoin Cash ABC Network, intending to implement the original plan of Nakamoto’s, which is building a crypto token that is as usable as cash. The controversy of the BTC cash team arose as a result of the opinion of one of the main developers. Amaury Sechet wanted to put a “Miner tax” of 8% on every purchase. Usually, newly mined tokens are given to the successful miner as a block reward, and later it is sent to the address belonging to the developer. This issue led to disagreement between the team members, so BCHA split from Bitcoin Cash (BCH).

Bitcoin cash splits into two chains. One of them was called Bitcoin cash ABC for some time, and then eventually, after a year of hard work, it was relaunched as eCash in July with a new website appearance, additional features, and the token XEC. The conversion from BCHA to XEC has been done in 1:1 million, which means 1 million XEC for every BCHA user. The redenomination has changed its decimal from eight to one. Binance has handled all the technical requirements of this conversion from BCHA to XEC. Now XEC is trading in most of the exchanges, and conversions have been partially done and are still going on.

Unique Features of eCash

The eCash network is different from the rest of the crypto tokens. In other coins, the developers hold a large number of tokens that will be released in the future. The release can create inflation in the coin’s economy, but 90% of eCash XEC is already issued in the cryptocurrency market. Hence the new supply of tokens will be very limited. The inflation rate of eCash XEC is less as of 2021 data. eCash XEC has its own blockchain like Bitcoin. Hence it is not an ERC-20 token; a wrapped XEC token is also available in exchanges, but holding this will increase the risk parameters. Hence it is better to buy the native XEC eCash cryptocurrency.

eCash XEC supports wallets such as Cash tab, Electrum ABC, and Viawallet. The supply of eCash is limited to 21 trillion eCash XEC. Since it has reduced the decimal place, lower unit prices also enjoy higher bull market appreciation. eCash XEC uses bits that allow easy transaction of small units, and it avoids the difficulty of entering decimal points. Instead of entering at 0.00001000, traders can simply send 10 bits. Bitcoin Cash ABC was a fork of Bitcoin; hence BCHA possessed similarities with the king of digital asset Bitcoin. The consensus mechanism of operation was the same for both currencies.

eCash XEC uses electrum ABC, a python application forked from electron cash and automatically copies existing electron cash wall files into an Electrum ABC supporting folder. If a customer still holds coins on the BCH network, it can be retrieved simply by importing a wallet to electrum ABC. Customers can download electrum ABC from the eCash website and execute the same.

eCash supports the CashFusion protocol; CashFusion protocol allows the user to keep the sender anonymous compared to other transactions and maintain the supply cap. With the help of electrum, ABC users can turn on and off this option at their convenience. Privacy is a major concern of the cryptocurrency market, and the tokens cannot expect future growth without implementing privacy settings. Most of the tokens are trading in the market without a proper privacy system, which is a major question that the crypto industry faces nowadays. Being the adopter of CashFusion, which provides privacy to Bitcoin cash, your eCash XEC transactions cannot be tracked by all the chain analysis companies.