ECash

eCash (XEC) is a cryptocurrency designed to be used as electronic cash, aiming to become a universal currency accessible to everyone globally. It is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). eCash incorporates a Proof-of-Stake (PoS) consensus layer called “Avalanche,” distinct from the Avalanche (AVAX) blockchain, to improve scalability and transaction speed. The rebranding from BCHA to XEC included a redenomination of the token at a ratio of 1:1,000,000, aiming to make transactions more user-friendly by using smaller denominations called “bits” instead of unwieldy decimal places.

eCash follows a fixed supply model similar to Bitcoin, with a maximum supply of 21 trillion XEC tokens. Approximately 90% of all eCash that will ever exist has already been mined, with the inflation rate already low (less than 2% as of 2021) and expected to decrease to zero. The development team holds only a tiny amount relative to the total supply, ensuring that the new supply of XEC into the market will continue to be very limited.

As of today #{today’s date}, the price of ECash is ₹0.003141 INR or 0.00003359 USD, with a 24-hour trading volume of 21005342.66 USD. The market capitalization for ECash is 688174683.29USD. The circulating supply is 19804317172584 ECash, with the total supply also being 19804317172584 ECash.

• Scalability

• : eCash aims to scale from about 100 transactions per second to over 5 million transactions per second.

• User-Friendly

• : Using “bits” as the base unit makes transactions easier to understand and execute.

• Decentralized Governance

• : eCash incorporates staking and decentralized Governance, allowing token holders to participate in the network’s decision-making process.

• Privacy Features

• : Implements CashFusion protocol for enhanced privacy, offering anonymity comparable to leading privacy coins.

• Innovative Consensus Mechanism

• : Utilizes the Avalanche consensus mechanism for improved scalability and security.

• Complexity for New Users

• : The transition from BCHA and introducing new concepts like Avalanche consensus might confuse the need for further clarification.

• Market Volatility

• : As with all cryptocurrencies, eCash is subject to market volatility, leading to significant price fluctuations.

• Competition

• : Faces stiff competition from other cryptocurrencies aiming to be used as electronic cash.

• Regulatory Uncertainty

• : Cryptocurrencies, including eCash, face regulatory challenges that could impact their adoption and use.

• Adoption Rate

• : The success of eCash depends on its adoption rate among users and merchants, which needs to be determined.

• High Scalability Potential

• : eCash’s goal to significantly increase transaction throughput makes it a promising investment for future scalability.

• Active Development

• : Continuous improvements and a clear roadmap indicate a solid commitment to the project’s success.

• Limited Supply

• : The fixed supply of XEC tokens could lead to increased demand and higher prices over time.

• Privacy and Security

• : Features like CashFusion provide users with enhanced privacy, making eCash an attractive option for privacy-conscious investors.

• Staking Rewards

• : The opportunity to earn rewards through staking offers an additional incentive for investors.

• Avalanche Consensus Mechanism

• : Differentiates eCash from other cryptocurrencies by improving scalability and security.

• User-Friendly Denominations

• : “Bits” make transactions more straightforward and relatable to everyday currency.

• Decentralized Governance and Staking

• : Allows community participation in decision-making and network security.

eCash aims to solve the problem of slow transaction speeds and high fees associated with traditional cryptocurrencies like Bitcoin. It seeks to provide a scalable, secure, and user-friendly digital currency that can be used for everyday transactions globally.

Amaury Séchet, a former Facebook engineer and a prominent figure in the Bitcoin Cash community, is the lead developer behind eCash. He has been instrumental in developing Bitcoin Cash and its subsequent forks, bringing significant experience and expertise to the eCash project.

The rebranding from BCHA to XEC did not involve a traditional ICO but was a redenomination and rebranding effort. Every BCHA holder received 1 million XEC for every BCHA held during the rebranding.

• Market Volatility

• : Cryptocurrency prices are highly volatile, and eCash is no exception.

• Regulatory Risks

• : Changes in cryptocurrency regulations could negatively impact eCash.

• Adoption Challenges

• : Widespread adoption is crucial for eCash’s success but remains uncertain.

• Competition

• : eCash faces competition from other digital currencies aiming to serve as electronic cash.

• Technical Risks

• : Implementing new technologies like Avalanche Consensus carries inherent technical risks.

ECash (XEC) is a cryptocurrency that aims to fulfill the vision of providing a scalable, secure, and user-friendly digital currency for global transactions. The whitepaper of eCash presents it as a continuation of the Bitcoin Cash project, aligning with the economic theories of Milton Friedman. The eCash network is designed to handle a large volume of transactions, to scale from around 100 transactions per second to over 5 million transactions per second. This is to be achieved through various technical improvements such as mass-parallelization, canonical transaction ordering, Schnorr signatures, UTXO commitments, and adaptive block size.

The eCash platform introduces the Avalanche consensus protocol, distinct from the Avalanche (AVAX) blockchain, to enhance blockchain security, enable near-instant confirmation times, and streamline future network upgrades. This consensus mechanism is a critical feature that sets eCash apart from other cryptocurrencies, aiming to provide instant and reliable secure transactions within seconds. The whitepaper also highlights the importance of usability improvements such as CashAddr for easier and safer use, convenient units with two decimal places, and the CashFusion protocol for opt-in privacy.

Regarding extensibility, eCash is designed to be a flexible platform that can accommodate future improvements with minimal disruption. This is facilitated by foundational opcodes, a larger OP_RETURN for tokens on-chain, and the potential for scalable, intelligent contracts through an EVM subnet. The whitepaper envisions eCash as a currency that can support the economy of tomorrow, with a focus on security, low transaction fees, and privacy.

The eCash project is led by Amaury Séchet, a former Facebook engineer and a key figure in the development of Bitcoin Cash. The development team holds only a tiny amount of the total XEC supply, which means that the new supply of XEC entering the market will be very limited, aiming to prevent significant inflation. The whitepaper emphasizes that eCash is not just a new token but a mature project with a substantial portion of its supply already in circulation.

Overall, the eCash whitepaper outlines a comprehensive plan for a cryptocurrency that is a medium of exchange and a platform for innovation in the digital currency space. It aims to address the limitations of traditional cryptocurrencies by providing a scalable, secure, and user-friendly alternative that can be used for everyday transactions and complex financial applications.