What Is eCash (XEC) How It Works & Where To Buy It?

eCash claims to be a versatile and optimized P2P electronic cash protocol. eCash is a fork of Bitcoin Cash (ABC) and BCH – the project positions itself as an efficient electronic cash solution.

The project was founded by Amaury Sechet (one of the lead developers of BCH). XEC is the 58th largest cryptocurrency by market capitalization.

How eCash (XEC) Works

The eCash protocol claims to be an improvement on the Bitcoin Cash project. The eCash network aimed to simplify the process of using crypto as a payment solution. The eCash team recognized that there are still a considerable amount of hurdles when onboarding individuals interested in cryptocurrency.

Some of the most notable issues highlighted were the complex terminologies being used in most blockchain projects – especially regarding Bitcoin, Bitcoin Cash, and Bitcoin Cash ABC.

Additionally, the technical aspects of these cryptocurrencies could be perceived as deterrents for potential investors – eCash decided to change the layout to only two decimal places.

In terms of the functionality of the eCash network and how eCash users experience the platform, how eCash works can be divided into 3 main components:

EVM subchain – The combination of a privacy-focused blockchain with an EVM (Ethereum Virtual Machine) Subchain can be attributed to the success and versatility of eCash. The multi-layered protocol utilizes an EVM subchain to integrate the development and deployment of DApps and smart contracts. This also means that Ethereum developers are able to transfer the DApps to the eCash network.

eTokens – One of the key features that separates eCash from other projects is that individuals are able to create custom tokens – without needing to have extensive technical know-how. The eCash protocol gives individuals the ability to create their own tokens, with certain characteristics (supply, name, etc.), all through the dashboard. This is especially appealing to businesses seeking to create unique ways to generate revenue.

eCash Wallet – One of the most fundamental requirements in crypto is the safe storage of tokens. Wallets are commonly used to ensure that users can securely store their tokens. eCash has a native wallet that has integrated Sighash, which is said to enhance security. The interface of the wallet allows users to easily view their staking rewards and other basic information.

Other notable features that play an integral role in the project are the privacy features (Cashfusion Protocol) and a unique consensus algorithm called Avalanche.

Cashfusion Protocol enables users to send private transactions – similar to the way top privacy coins like Monero function. This is facilitated through the Electrum ABC network. These privacy features make eCash transactions significantly harder to trace than Bitcoin Cash transactions.

eCash uses a proof-of-stake consensus algorithm, paired with the network having Adaptive Block Size. Essentially, block sizes can scale to 1TB, whereas Bitcoin block sizes are capped at 1MB.

Transactions on the eCash network also have rapid transactional finality (3 seconds and instant finality is being planned). Transaction speed is scalable and can range from 100 tx (transaction hash) to 5,000,000 tx by utilizing mass-parallelization.

What Is eCash (XEC) Used For?

XEC is the native digital asset of the eCash platform – it’s used as value of transfer. In simple terms, the eCash wallet that holds digital assets (XEC) is the same as a bank account that holds fiat assets.

The number of XEC tokens stored in the wallet remains the same, regardless of whether the eCash price declined or appreciated. The fork of the Bitcoin Cash project has quickly grown to become a popular option for many individuals in the crypto space.

eCash (XEC) is being used by individuals, businesses, and developers because it has lucrative appeals to different types of investors. The speed of the network makes it an attractive option for sending and receiving payments, and the EVM compatibility creates a unique value proposition for eCash to attract developers who’ve built DApps on Ethereum.

Future improvements include working on the scaling potential of the network and drastically reducing the average price of transactions. As a digital currency, the market cap of XEC and Bitcoin SV (also a bitcoin cash fork) are almost exact.

Additionally, XEC tokens are frequently traded on cryptocurrency exchanges – the price volatility of cryptocurrencies makes it favorable to swing and arbitrage trade crypto.

Where To Buy eCash (XEC) Tokens

eCash tokens are among the most commonly traded cryptocurrencies on the market. There are more than 10,000 digital currencies on the market, and the eCash cryptocurrency has rapidly grown to become one of the most influential cryptocurrencies on the market.

Before purchasing XEC, any user will need to deposit fiat money onto an exchange, sequentially, XEC tokens will be credited to their XEC digital wallet on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store XEC tokens.

1. Gate.io
2. HTX
3. KuCoin
4. Binance
5. Crypto.com

XEC tokens are native utility tokens and are also used to pay for transactions on the eCash network. XEC tokens can be stored directly in an eCash wallet.

About eCash (XEC)

How long has eCash (XEC) existed?

eCash (XEC) was initially launched in 2020 and was originally called Bitcoin Cash ABC before being renamed eCash in 2021. The founder of the eCash project is Amaury Sechet who was one of the lead developers of Bitcoin Cash.

Since its launch in 2020, the project has amassed a significant amount of popularity and user adoption in the global community.

What’s controversial about eCash (XEC)?

Before investing in any crypto project, it’s important to do as much research as possible. Look into the project’s founders, the particular tokenomics, various partnerships the project has, the whitepaper, and all other important factors surrounding the project.

Let’s take a look at the top controversy surrounding eCash (XEC):

• Potential to outperform competitors – eCash (XEC) has quickly become a well-known and trusted cryptocurrency used by hundreds of thousands of individuals around the world. The Bitcoin Cash fork has already made some impressive upgrades that can be seen as superior to other projects.

  However, many are concerned that even though the project seems capable of catering to the masses, will it amass the support it needs to overtake its competitors? Many people feel that eCash has come to the party too late and won’t be able to secure a spot in the top 10 biggest cryptocurrencies in the world.

How many eCash (XEC) Tokens tokens are there?

At the time of writing, XEC has a circulating supply of 19,068.93B XEC (91% of the total supply).

The total supply of XEC is 18,899,704,673,313.

The max supply of XEC is 21,000,000,000,000.

Can eCash (XEC) be mined?

eCash (XEC) is a mineable cryptocurrency. XEC mining requires a mining rig and sufficient computing power.

XEC applicable miners include Antminer, Whatsminer, and Avalon. It should be noted that the mining difficulty took place when eCash rebranded from Bitcoin Cash ABC.

Additionally, users can also stake XEC in their eCash wallet and receive rewards for providing the network with additional security.

Some centralized exchanges also offer staking rewards for XEC holders that stake their tokens for a certain duration.

What is the market cap of eCash (XEC)?

To work out the market cap of eCash (XEC), multiply the total amount of coins in circulation by the current market price of XEC.

eCash (XEC) Market Cap = 19,068.93B XEC x $$0.00004926 = $939 million (58th largest market cap).

XEC has rapidly grown to become one of the top 100 cryptocurrencies by market capitalization – XEC reached its highest market cap of $6.93 billion in November 2021.

Biggest Competitors Of eCash (XEC)

eCash has positioned itself as a credible and innovative project seeking to provide payment solutions and bolster user adoption at the same time.

The number of retail investor accounts directly linked to XEC is indicative of the number of users utilizing the token and platform. Any project seeks to increase user adoption and increase the trading of its token across multiple exchanges.

eCash is not the only project that offers payment solutions and a native wallet. There are a number of reputable and successful projects that have cemented their spots as top cryptocurrency projects.

eCash’s biggest competitors are:

• Waves
• Solana
• Bitcoin Cash

What Are The Future Plans For eCash And XEC Token?

eCash is actively trying to upgrade key features of its platform, reduce transaction fees and improve scalability. The eCash team has made it evident that they want to be a blockchain platform that facilitates scalable and globally secure transactions.

For a more in-depth understanding of what to expect from the eCash project in the future, individuals should thoroughly read through the whitepaper.

Pros And Cons Of eCash (XEC)

Pros:

• Nominal transaction fees – eCash transaction fees are near zero, making it an appealing payment solution.
• EVM subchain – The multi-layering of the eCash protocol allows for enhanced functionality. More specifically an EVM subchain, which allows Ethereum developers to move their DApps over to the eCash network.
• Scalability – The Avalanche consensus mechanism bolsters the scalability of eCash. The team expects a throughput of up to 5,000,000 tx once the full Avalanche upgrade is complete.
• Customized token creation – Users can create their own eTokens on the eCash platform. This streamlines the process of token creation and provides businesses with an innovative way to generate revenue.
• Private transactions – eCash allows users to facilitate ”private transactions” which are much harder to trace than standard transactions.

Cons:

• Competiton – There are a significant amount of top projects that offer very similar solutions.

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