ECash (XEC) is a rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It describes itself as “a cryptocurrency designed to be used as electronic cash”.
What is eCash (XEC)?
ECash strictly aims to be a transaction tool used to pay for goods and services. The cryptocurrency was rebranded on July 1, 2021 and has been trying to distinguish itself from the previous project ever since.
The base units of eCash are called “bits” and replace the cumbersome decimal digits of Bitcoin Cash ABC. So, instead of sending 0.00001000 BTC, with eCash you send 10 bits. ECash also integrates a proof of stake (PoS) consensus layer called “Avalanche”, not to be confused with the blockchain Avalanche (AVAX). Following the rebranding, eCash announced that it will convert all BCHA cryptocurrencies into XEC at a one-to-one million ratio.
Cryptocurrency developers have set their sights on three main improvements to eCash:
- Scaling transaction volume from 100 transactions per second to more than five million transactions per second
- Improving the checkout experience by reducing transaction accuracy time
- Extending the protocol and creating forkless upgrades
The developers of eCash (XEC) aim for the cryptocurrency to support Ethereum Virtual Machine (EVM) compatibility and be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH). For the coin to succeed, eCash developers plan to fulfill five key tasks:
- Ensuring anonymous transactions
- Ensuring the immutability of transactions
- Guarantee that transactions will remain virtually free of charge
- Enforce globally secure transactions with an end time of less than three seconds
- Designing cryptocurrency infrastructure as a public good funded by a social contract
To achieve this, eCash developers have laid out an ambitious roadmap:
- A canonical trade order to enable scalable block processing
- Schnorr Signatures to enable batch signature verification
- Faster block propagation by graphene or other means
- UTXO commitment with blockchain pruning and faster initial synchronization
- Merklix-Meta Tree to enable scalable block processing
- Up to 1 TB blocks, adaptable block sizes to support market-driven growth
In addition, eCash (XEC) is led by Amaury Sechet, the lead developer of Bitcoin Cash (BCH), who forked this blockchain to establish eCash’s predecessor, Bitcoin Cash ABC (BCHA).
How to Buy XEC Coin?
XEC Coin can be purchased quickly and securely on Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy XEC Coin, you first need to become a member of Binance and then send fiat money. After sending a fiat currency such as Turkish Lira or dollars, the purchase can be made on the BUSD and Tether (USDT) XEC trading pair, where XEC Coin is traded.
In addition, on Binance, users can place purchase orders not only at market value but also at lower values, allowing users to buy at any price they want. Simply use the Limit tab and enter the amount you want to buy and the price you want to buy at.
