eCash Price（XEC）USD

Obviously, eCash thinks highly of himself. eCash called himself “the implementation of a sound currency with technical security envisaged by Milton Friedman and other celebrities in the field of monetary philosophy”. It was “forged by centuries of economic theory and more than a decade of experience in the real world of cryptocurrency”, or so it is said.

More simply, eCash (XEC) is the local cryptocurrency of the software company Bitcoin ABC. Although relatively new, the currency has a turbulent past. Read on to explore the key aspects of eCash and native XEC cryptocurrencies. What is eCash (XEC) and what is the purpose of eCash coins? In addition, how does eCash work? Please follow our footsteps and learn about it.

 

What is eCash (XEC)?

eCash (XEC) is led by Amaury sechet, who claims to be a “fighter for financial freedom and a benevolent dictator”. He also steered the launch of Bitcoin Cash before exiting the market in 2018-2020.

San Francisco based Amaury said in his LinkedIn profile that before Bitcoin Cash, he worked as a software developer on Facebook for four years after leaving hub’s sales, a French IT company.
XEC coin was briefly called Bitcoin Cash ABC (BCHA) before it was rebranded in July 2021, and was generated as a fork of Bitcoin Cash (BCH) in November 2020. BCH itself is a fork of Bitcoin, which is implemented by a developer team dissatisfied with the development direction of the Bitcoin development community.

Bitcoin Cash is actually split into two separate projects. BCHA and Bitcoin Cash node (bchn). The result of the fork was Amaury’s controversial decision to require all miners to contribute 8% to the development fund.

From August 2021, eCash began to develop some privacy functions, which are still in the development stage. What may be controversial is that eCash is implementing cashfusion, which is a privacy agreement to cover up trading activities by “mixing” transactions with other users and creating confusion.

This hybrid method was used by monero, the privacy coin, and was accused of attracting cyber criminals and blackmail software attackers. The eCash roadmap outlines scalability as the next major hurdle to overcome. eCash currently supports 100 transactions per second (TPS), but it has a lofty goal of 5million TPS. In order to achieve these purposes, the developer plans to implement scalable blockchain processing, and the blockchain prunes quic network protocol.

 

The XEC Token

When eCash reinvented its brand from BCHA, developers made a novel decision to reduce the number of decimal points from eight to two. Said cechet. “No other currency has 8 decimal places. Why should cryptocurrencies be like this? Cryptocurrencies with lower unit prices can also enjoy higher bull market appreciation. Because the eCash team is motivated by both technology and price improvements, there is no doubt about such improvements.”

This reduction in decimal points means that an XEC includes 100 satoshis (the lowest denomination of Bitcoin), rather than 100million satoshis (the case of Bitcoin). According to the FAQ section of eCash , this decision was implemented to simplify small transactions. “For example, instead of sending 0.00001000 Bitcoin (which is the basic unit used by BCHA), it is better to send 10 bits directly!”

The fixed supply of XEC coins is 21trillion, of which 91% has been mined. As of April 6th, 2021, the exchange value of XEC is USD 0.0001. The market value is USD 1914 million, and the 24-hour trading volume is USD 19256 million, about 10% of the market value.

Binance is the main centralized exchange (CEX) providing trading pairs, followed by gate IO, kucoin and coinone. At present, the annual inflation rate of XEC is 1.73%. The next halving will occur in March 2024, and the inflation rate will be reduced to 0.83%.

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