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About eCash
Key Points
- eCash (XEC) is a rebranded version of Bitcoin Cash ABC (BCHA)
- Aims to be a means of transaction for goods and services
- Base units are called “bits” (1 XEC = 1,000,000 bits)
- Integrates proof-of-stake (PoS) consensus layer called “Avalanche”
- Developers aim to improve scaling, payment experience, and fork-free upgrades
Founders
- Lead developer: Amaury Sechet (previously led Bitcoin Cash development)
Uniqueness</
About eCash: The Evolution of Cash
Introducing eCash (XEC): A Revolutionary Cryptocurrency
eCash (XEC) is the rebranded iteration of Bitcoin Cash ABC (BCHA), itself a fork of the pioneering cryptocurrencies Bitcoin (BTC) and Bitcoin Cash (BCH). Dubbed a “cryptocurrency designed to be used as electronic cash,” eCash is resolute in its pursuit of becoming a ubiquitous means of transaction for goods and services. Following its rebranding on July 1, 2021, eCash has endeavored to differentiate itself from its predecessor. The base units of eCash are denominated in “bits,” effectively replacing the cumbersome decimal places of Bitcoin Cash ABC. This innovation enables seamless transactions, where, for instance, sending 10 bits is equivalent to sending 0.00001000 BTC. Furthermore, eCash incorporates a proof-of-stake (PoS) consensus layer, dubbed “Avalanche” – distinct from the blockchain Avalanche (AVAX). Upon rebranding, eCash announced a one-to-one million conversion ratio for all BCHA coins to XEC.
The developers of the cryptocurrency have set their sights on three primary enhancements:
- Unlocking unprecedented scalability with a remarkable leap from 100 transactions per second to a staggering five million transactions per second
- Elevating the payment experience through drastically reduced transaction finality times
- Enhancing the protocol’s flexibility and future-proofing through seamless, fork-free upgrades
The Visionaries Behind eCash: Meet the Founders
eCash (XEC) is spearheaded by its visionary lead developer, Amaury Sechet, who previously helmed the development of Bitcoin Cash (BCH) before forking the blockchain to create the precursor to eCash, Bitcoin Cash ABC (BCHA), on November 15, 2020. Sechet subsequently opted to rebrand Bitcoin Cash ABC, thereby establishing a distinct brand identity for eCash, citing that a reduction in decimal places would facilitate the coin’s widespread adoption.
“Unlike traditional currencies, which typically boast only two decimal places, cryptocurrencies have long been saddled with eight. But why should they? In reality, digital currencies with lower unit prices tend to experience more pronounced appreciation during bull markets. The eCash team, driven by a dual focus on technological advancements and price optimization, recognized the inherent logic in this improvement, making it a straightforward decision.”
Amanda Sechet played a pivotal role in the development of Bitcoin Cash, spearheading its inaugural fork from Bitcoin in August 2017, navigating its trajectory following the emergence of Bitcoin SV (BSV) in November 2018, and orchestrating its most recent divergence in November 2020. Prior to his foray into the realm of cryptocurrencies, Sechet held positions as a software engineer at Facebook and a lead developer at Stupid D Compiler.
Unveiling the Unparalleled Attributes of eCash
The developers of eCash (XEC) envision a future where their coin seamlessly integrates with the Ethereum Virtual Machine (EVM), fostering interoperability with the decentralized finance (DeFi) ecosystem on Ethereum (ETH). To propel eCash towards success, its developers have outlined five pivotal objectives:
- Maintaining the confidentiality of transactions through anonymity
- Ensuring the indelibility and immutability of transactions
- Providing a near-zero-cost transaction experience
- Facilitating globally secure transactions with unparalleled finality in under three seconds
- Conceptualizing the coin’s infrastructure as a public good, sustained through a communal social contract
To achieve this, the visionary developers of eCash have charted an ambitious roadmap, outlining plans to:
- Optimized canonical transaction ordering for efficient and scalable block processing
- Implementation of Schnorr Signatures to facilitate batched signature validation and enhanced security
- Accelerated block propagation leveraging graphene or alternative technologies
- UTXO commitment mechanism incorporating blockchain pruning and expedited initial synchronization
- Merklix-Meta Tree architecture for scalable and efficient block processing
- Dynamic adaptive block sizes to accommodate market-driven growth, supporting up to 1TB blocks
These visionary solutions would catapult eCash to an unprecedented 50 transactions per user daily, seamlessly supporting a vast user base of up to 10 billion individuals.
What Is the Circulating Supply of eCash (XEC) Coins?
Notably, eCash (XEC) does not have a distinct tokenomics, instead adhering to many of the same principles established for Bitcoin (BTC). It mirrors Bitcoin’s supply and distribution model, wherein miner rewards are halved every 210,000 blocks, approximately every four years. ECash shares the same supply cap as Bitcoin, totaling 2.1 quadrillion satoshis; however, instead of dividing this amount by 100 million to yield 21 million BTC, it is divided by 100, resulting in 21 trillion XEC. This deliberate design choice was made to facilitate easier mental comprehension of integers, aligning with the coin’s overarching goal of achieving widespread adoption.
The eCash Network’s Robust Security Mechanisms
In stark contrast to the Bitcoin Cash ABC (BCHA) network, which relies on a proof-of-work (PoW) consensus mechanism for security, the developers of eCash are poised to introduce proof-of-stake (PoS) to accelerate transaction processing. This innovative approach, dubbed “Avalanche post-consensus,” promises to bolster security, enable seamless fork-free upgrades, and facilitate advanced opcodes courtesy of enhanced script capabilities. Notably, the Avalanche layer will be superimposed on the existing PoW framework, thereby harnessing the benefits of both paradigms.
XEC boasts its own proprietary blockchain, akin to Bitcoin (BTC), distinguishing it from ERC-20 tokens.
Where to Acquire eCash (XEC): A Comprehensive Guide
eCash (XEC) is now accessible for acquisition through prominent cryptocurrency exchanges, including Binance, Huobi Global, OKEx, Mandala Exchange, and Upbit.
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