XEC
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- Introduction
- Feed
What is eCash?
ECash, led by Amaury Sechet, builds upon Bitcoin's principles with a capped supply of 20 million units, inspired by Milton Friedman's vision. It aims to advance Bitcoin Cash with innovative features like staking, Avalanche consensus, and seamless network updates. ECash(XEC) operates on the Bitcoin Cash ABC network, offering peer-to-peer payment capabilities since its 2020 inception. Renamed from Bitcoin Cash ABC (BCHA), ECash continues its commitment to electronic cash functionality.
Who Created eCash (XEC) ？
eCash (GRS) was created by Amaury Sechet and Roger Ver, emerging from the Bitcoin Cash ABC network, a result of the Bitcoin blockchain fork in 2020. Originally known as Bitcoin Cash ABC, it underwent rebranding in July 2021 to enhance its visibility in the crypto market.
When was eCash launched?
eCash was launched in July 2021, following its rebranding from Bitcoin Cash ABC. The transition involved a conversion process from BCHA to XEC tokens at a ratio of 1:1 million, facilitated by Binance. This relaunch introduced additional features and a new token, XEC, traded on major exchanges. The network undergoes protocol upgrades biannually on November 15th and May 15th.
How does eCash work?
The ECash platform operates through a sophisticated multi-layered system tailored to meet diverse developer needs. Utilizing XEC, users can construct decentralized applications (dApps) or smart contracts according to their preferred development approach. This innovative strategy integrates a blockchain for privacy protection with an Ethereum Virtual Machine (EVM) subchain, significantly enhancing scalability while upholding smart contract functionality segregation. The decentralized EVM subchain facilitates seamless migration or extension of Ethereum-based dApps to ECash, leveraging its capabilities including eTokens and a robust governance protocol.
Underpinning ECash's operations is the Avalanche protocol, a Byzantine Fault Tolerant (BFT) consensus mechanism ensuring enhanced security for value transfer. This protocol, still in development, boasts remarkable scalability, capable of processing thousands of transactions per second, ideal for high-volume applications like micropayments. Moreover, ECash introduces aliases, enabling users to assign human-readable names to their addresses akin to Ethereum Name Service (ENS). Supported by the open-source Chronik Indexer, which efficiently tracks addresses, transactions, and blocks, ECash embodies a versatile and efficient ecosystem poised for further development and adoption.
Tokenomics
What is XEC coin used for?
The XEC token, despite its rebranding, boasts unique attributes setting it apart in the cryptocurrency landscape. It facilitates anonymous transactions, maintains low transaction costs, and ensures swift and secure transfers. Moreover, XEC empowers holders to engage in governance, enabling participation in critical decision-making processes within the ecosystem.
Token Distribution
Bitcoin Cash ABC (BCHA) rebranded into eCash at a ratio of 1:1,000,000 on July 1, 2021.
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