eCash (COIN: $XEC) is a cryptocurrency modeled on centuries of economic theory and over ten years of real-world crypto data. The project represents the implementation of secure digital money, as envisioned by monetary philosophers like Milton Friedman.
In this article, we will delve into how eCASH is unique and highlight the key features of this project.
What is eCASH?
eCash is a peer-to-peer digital currency created from a rebranding of Bitcoin Cash ABC (BCHA) in July 2021, a fork of Bitcoin Cash (BCH). Since then, the project has taken measures to distinguish itself from its competitors.
It is a versatile project led by Amaury Sechet, the man behind the launch of Bitcoin Cash before disappearing from public view between 2018 and 2020. He proclaimed himself a “financial freedom fighter and benevolent dictator.”
The primary aim of this project is to provide a means of transferring goods and services with robust security. The base units on eCASH are known as “bits.” It replaces confusing decimals on Bitcoin Cash ABC. The users can send transactions of 10 bits instead of 0.0001000 BTC.
The project’s whitepaper states, “eCash is a natural continuation of the Bitcoin Cash project. eCash fulfills the vision of the legendary Milton Friedman, delivering on key promises such as the innovative Avalanche consensus layer, while also introducing concepts never before seen in the Bitcoin project, Such as staking, fork-free network upgrades, and subchains.”
What Makes eCash Unique?
One of the reasons eCash stands out in cryptocurrency is its Proof-of-Stake (PoS) consensus layer known as “Avalanche.” This consensus layer improves the platform’s usability and enhances security via 1-block finality.
Moreover, the developers have focused on scaling the 100 transactions per second to 5 million transactions per second with speedy block propagation and adaptive block size. The developers behind eCash also aim to support the capability of the Ethereum Virtual Machine (EVM) and to make their cryptocurrency compatible with the decentralized finance (DeFi) industry on the Ethereum (ETH) platform.
Furthermore, the development team is committed to ensuring transactions are almost free while upgrading the system’s security from vulnerable attacks.
Users can contribute to and support the project by staking. To participate in the staking, you must run reliable and highly available nodes to provide excellent service.
eCash Halving
eCash, like Bitcoin Cash, and Bitcoin, is set to halve the block reward in the next few weeks. In about 17 days, the eCash block reward will drop from 6,250,000 to 3,125,000 XEC. The upcoming halving event has triggered a surge in interest in the coin, pushing the price higher in recent weeks.
eCash Price Trend
The price of the token is rising gradually, which is in line with the bullish crypto market trend. As of this writing, the coin has gained 33.33% in the past week and 10.25% in the past 24 hours. It has a market cap of $1.35 billion and a 24-hour trading volume of $516.51 million.
Should You Buy $XEC?
$XEC is currently bullish, and its developers are working on upgrading the system to increase its mass appeal, which has put eCash (XEC) on an upward trajectory. Consequently, it would make for a great addition to your portfolio in the medium term amidst the crypto bull run. However, crypto is highly volatile, and consequently, you must stay in touch with the latest eCash news to make informed trading decisions.
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