Ecash (XEC) is a cryptocurrency designed to function as electronic cash. eCash is a rebrand of Bitcoin Cash ABC and was created by a team led by Amaury Séchet, the lead developer of Bitcoin Cash (BCH).
What is eCash (XEC)?
On November 15, 2020, the Bitcoin Cash blockchain forked again, with one part remaining the Bitcoin Cash we have today, while the other became the Bitcoin Cash ABC chain. This chain had its own cryptocurrency, known as BCHA. Over the next few months, more changes were planned. In the summer of 2021, BCHA announced that it would rename itself and rebrand as eCash (XEC).
eCash is used as a method of exchange that allows people to buy and sell things online without the need for a bank account.
“eCash is the natural continuation of the Bitcoin Cash project. Realizing the vision of the legendary Milton Friedman, eCash delivers on key promises such as the innovative Avalanche consensus layer, while introducing concepts never before seen in a Bitcoin project, such as staking, forkless network upgrades, and subchains.”
In addition, eCash is, in essence, a fork of Bitcoin. It remains to be seen whether it can step out of the shadow of its predecessor after rebranding. XEC also works in fractions of a cent. While there’s nothing wrong with that, the very low price could potentially discourage some people from investing in crypto.
According to statements made, XEC differs from Bitcoin in one important way: It uses a proof-of-stake, consensus mechanism, not proof-of-work. This, at least in theory, could make it one of the more energy efficient options in the crypto world.
Where to Buy XEC Coin?
XEC Coin can be safely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. XEC Coin is traded on the Binance platform in the XEC/USDT and XEC/BUSD pairs.
To buy XEC, you must first become a member of the Binance exchange. Upon completion of the membership, cryptocurrency or fiat currency must be transferred to the Binance account wallet. After the transfer is complete, you can buy XEC coins in all three of the above-mentioned pairs. To buy from the XEC/USDT trading pair, you must first go to the interface of this pair. In the XEC/USDT interface, enter the amount to be purchased in the field indicated in the limit tab. After specifying the amount, the purchase is executed with the Buy XEC order.
