Introduction to eCash

Derived from one of the most trusted names in the cryptocurrency space, eCash (XEC) is a rebranded version of Bitcoin Cash ABC (BCHA) and is designed to be used as electronic cash. Realizing the vision of the legendary Milton Friedman, eCash aims to take financial freedom to a level never before seen. With eCash, sending money is now as simple as sending an email.

What is eCash?

eCash (XEC) is a cryptocurrency that is strictly focused on being a means of transaction used to pay for goods and services. Built by the same team of Bitcoin developers that created Bitcoin Cash, eCash aims to improve transaction throughput, payment experience, and protocol extensibility. The base units of eCash are called "bits", which replace the unwieldy decimal places of Bitcoin Cash ABC.

eCash's Inspiration

Milton Friedman, a Nobel Prize-winning economist, once said, "I think that the internet is going to be one of the major forces for reducing the role of government. The one thing that's missing, but that will soon be developed, is a reliable eCash." eCash aims to fulfill this vision by providing a reliable and efficient electronic cash system.

Team Background

The eCash project is led by its lead developer, Amaury Sechet, who was the lead developer of Bitcoin Cash (BCH) and forked that blockchain to establish the predecessor of eCash, Bitcoin Cash ABC (BCHA). Sechet has been highly active in the development of Bitcoin Cash, leading its initial fork away from Bitcoin in August 2017, its continuation after Bitcoin SV (BSV) was forked from it in November 2018, and its most recent fork from Bitcoin Cash in November 2020. Before his involvement in cryptocurrencies, he was a software engineer at Facebook and a lead developer at Stupid D Compiler.

Project Development

eCash is developed and maintained by Bitcoin ABC, a team of professional industry-leading Bitcoin developers. The developers have laid out an ambitious roadmap, focusing on three main areas of improvement:

1. Scaling transaction throughput from 100 transactions per second to more than five million transactions per second.
2. Improving the payment experience by reducing transaction finality time.
3. Extending the protocol and establishing fork-free upgrades.

eCash Network Security

In contrast to the Bitcoin Cash ABC (BCHA) network, which is secured using a proof-of-work (PoW) consensus mechanism, the developers of eCash plan to add proof-of-stake (PoS) in order to speed up transactions. The "Avalanche" PoS layer will be added on top of the existing PoW to leverage the benefits of both.

Unique Features of eCash

eCash developers intend the coin to support Ethereum Virtual Machine (EVM)-compatibility and be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH). To achieve this, the developers of eCash have laid out five core missions:

1. Ensuring anonymous transactions.
2. Ensuring the immutability of transactions.
3. Guaranteeing that transactions remain almost free.
4. Enforcing globally secure transactions with a finality of fewer than three seconds.
5. Designing the coin’s infrastructure as a public good, funded via its social contract.

Conclusion

eCash aims to create a cryptocurrency that serves as a reliable and efficient electronic cash system. By focusing on improving transaction throughput, payment experience, and protocol extensibility, eCash is taking steps towards fulfilling the vision of Milton Friedman and providing true financial freedom.

eCash Price Analysis

As of November 24 2024 eCash has a marketcap of $915M. This is {{percentagefromath}} from its all time high of $0.00038001. In terms of its tokenomics, there's a total supply of 21T with 94% currently outstanding. Keep in mind eCash has a fully diluted value of $971M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude