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 aims to be a medium of exchange used for paying for goods and services. The cryptocurrency was rebranded on July 1, 2021, and has been striving to differentiate itself from the previous project since then.
The basic units of eCash are called “bits,” replacing the cumbersome decimal places of Bitcoin Cash ABC. So instead of sending 0.00001000 BTC, you send 10 bits with eCash. It also integrates a proof of stake (PoS) consensus layer called “Avalanche,” not to be confused with the Avalanche (AVAX) blockchain. Following the rebranding, eCash announced it would convert all BCHA crypto coins to XEC at a ratio of one to one million.
eCash developers are focused on three main improvements:
- Scaling transaction volume from 100 transactions per second to more than five million transactions per second
- Improving the payment experience by reducing transaction finality time
- Extending the protocol and creating fork-free upgrades
eCash (XEC) developers 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 achieve five key tasks:
- Ensuring anonymous transactions
- Ensuring the immutability of transactions
- Guaranteeing transactions will remain almost free
- Mandating globally secure transactions with a finality of less than three seconds
- Designing the cryptocurrency’s infrastructure as a public good funded by its social contract
To achieve this, eCash developers have laid out an ambitious roadmap:
- Canonical transaction ordering to enable scalable block processing
- Schnorr Signatures to enable batch signature verification
- Faster block propagation through Graphene or other methods
- UTXO commitments with blockchain pruning and faster initial synchronization
- Merklix-Meta Tree to enable scalable block processing
- Adaptive block sizes to support market-driven growth up to 1 TB blocks
Additionally, eCash (XEC) is led by Amaury Sechet, the lead developer of Bitcoin Cash (BCH) and the developer who forked the blockchain to create Bitcoin Cash ABC (BCHA), the predecessor of eCash.
How to Buy XEC Coin?
XEC Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy XEC Coin, you first need to register with Binance and then send fiat currency. After sending fiat currency like dollars, you can trade in the XEC pairs with BUSD and Tether (USDT) where XEC Coin is listed.
Additionally, on Binance, users can place purchase orders at their desired price by using the Limit tab and entering the desired amount and price, allowing them to buy at their preferred price.
