What is eCash (XEC)and How Does It Work?

eCash is a cryptocurrency that’s designed to be used as electronic cash. eCash makes it possible to send money directly to other people online. This includes being able to use it to pay for goods and services.

4 min readJan 19, 2023

What Is eCash (XEC)?

Bitcoin Cash ABC (BCHA), which is a fork of Bitcoin (BTC) and Bitcoin Cash (BCH), is now known as eCash (XEC). The sole purpose of eCash is to be a means of exchange for making payments for goods and services.

It describes itself as:

“Cryptocurrency intended for usage as electronic money.”

History

On July 1, 2021, the coin underwent a rebranding, and ever since, it has made an effort to stand apart from its predecessor. Bits, the foundational units of eCash, take the role of Bitcoin Cash ABC’s cumbersome decimal places. When using eCash, you would transfer 10 bits rather than 0.00001000 BTC. The proof-of-stake (PoS) consensus layer used by eCash is termed “Avalanche,” not to be confused with the blockchain Avalanche (AVAX). After changing its name, eCash declared that it would exchange all BCHA coins 1:1 for XEC.

The three key enhancements that the cryptocurrency’s developers are focusing on are as follows:

Increasing the throughput of transactions from 100 per second to more than 5 million per second
Enhancing the payment process by speeding up transaction completion
Protocol expansion and fork-free upgrade implementation

eCash (XEC) Vision

eCash (XECcreators )’s wants the coin to enable Ethereum Virtual Machine (EVM) compatibility and to work with Ethereum’s decentralized finance (DeFi) industry (ETH).

The creators of eCash want to accomplish these five goals in order for the coin to be successful:

Ensuring transactions are anonymous
Ensuring that transactions are unchangeable
Ensuring that transactions stay almost free
Global safe transaction enforcement with the finality of under three seconds
Constructing the coin’s network as a public benefit and paying for it with its social contract

eCash (XEC) does not include Tokenomics, but it adheres to many of the same guidelines that have been established for Bitcoin (BTC). It follows the same supply and distribution mechanism as Bitcoin, which means that miner incentives are halved every 210,000 blocks or roughly every four years. eCash has the same 2.1 quadrillion satoshi supply limit as Bitcoin, but instead of being divided by 100 million to produce 21 million BTC, it was divided by 100 to produce 21 trillion XEC. Simply put, integers are simpler for consumers to conceptually comprehend, and this choice is in line with the coin’s objective of widespread acceptance.

Roadmap

The creators of eCash intend to add proof-of-stake (PoS) to the network in order to speed up transactions as opposed to the Bitcoin Cash ABC (BCHA) network, which is secured using a proof-of-work (PoW) consensus process. They refer to this as the “Avalanche post-consensus,” which would feature improved security, fork-free upgrades, and sophisticated opcodes due to improved script capability. To take use of the advantages of both, the Avalanche layer will be layered on top of the current PoW. Unlike ERC-20 tokens, XEC operates on its own blockchain, much like Bitcoin (BTC).

Team

Amaury Sechet, who also served as the primary developer of Bitcoin Cash, is in charge of eCash (XEC). Sechet played a significant role in the development of Bitcoin Cash, steering it through its original split from Bitcoin in August 2017, its continuation after Bitcoin SV (BSV) was forked from it in November 2018, and its most recent split from Bitcoin Cash in November 2020. He worked as a lead developer at Stupid D Compiler and a software engineer at Facebook before becoming involved in cryptocurrency.

Where to store eCash (XEC)

Cashtab is an open-source, highly secure, non-custodial web wallet for eCash (XEC) & eTokens. Cashtab is a fast, secure, and easy-to-use XEC wallet! Cashtab is also available as a browser extension for Google Chrome and Brave.

Electrum ABC is a fast and highly secure eCash (XEC) wallet for Windows, MacOS, and Linux. It supports mnemonic seed phrases, hardware wallets, multi-sig wallets, and importing private keys. Electrum ABC is a non-custodial $XEC wallet for power users!

RaiPay is a non-custodial mobile wallet for storing and managing eCash (XEC) and eTokens. With RaiPay, you can experience the power and speed of eCash (XEC) and eTokens online, in person, and everywhere else. It’s available for both Android and iOS devices.

ViaWallet backed by CoinEx, ViaWallet is a multi-chain, non-custodial mobile wallet that supports eCash (XEC). With ViaWallet you can send, receive, and manage your XEC coins securely. ViaWallet is available for both Android and iOS devices.

Where to Buy and Sell eCash (XEC)

You can Buy & Sell eCash (XEC) by heading over to the Buy Coins page of our website. eCash (XEC) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $XEC has never been easier, simply place your order and provide your wallet address. Once your payment arrives, eCash (XEC) will be sent directly to your wallet.

If you choose to Sell eCash (XEC) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

eCash (XEC) Resources:

Website: https://e.cash/
Block Explorer: https://explorer.bitcoinabc.org/
Twitter: https://twitter.com/eCashOfficial
Medium: https://medium.com/tag/e-cash

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.