eCash

XEC Price

What is eCash about?

eCash (XEC) is a Layer-1 digital cash network, developed by Bitcoin ABC. It was created on Nov 15th, 2020, and has since distinguished itself from its predecessors and other Bitcoin clients by integrating the breakthrough Avalanche consensus with its core proof-of-work (PoW) layer, extending its security and fundamental capabilities.

This Nakamoto/Avalanche hybrid consensus integration gives it unique properties for a Bitcoin-like chain, such as instant transaction finality, staking rewards, extensibility through subnets, and flexible protocol governance.

The development roadmap is set with three main goals:

• Scaling transaction throughput from ~100 tps to more than 5.000.000 tps
• Improving the payment experience with a less than 3 second transaction finality time
• Extending the protocol and establishing fork-free upgrades, allowing for more rapid, iterative development

What makes eCash unique?

The eCash (XEC) network is the only network that has integrated the Avalanche protocol with its core Nakamoto consensus, which also differentiates itself from the usual PoW/PoS Masternode solutions. Avalanche can come to consensus in about 2 seconds as opposed to Nakamoto’s characteristic 10-minute block times, enabling nodes to communicate in real-time to make decisions in a more granular fashion. The network retains the trustless and decentralized nature of Bitcoin’s PoW consensus while gaining more flexibility, security, and speed through the Avalanche protocol.

Another advantage of eCash’s Avalanche integration is its permissionless subnet capability. Subnets with arbitrary protocol changes can be created while staying pegged to the main chain. The development team plans to create an Ethereum Virtual Machine (EVM)-subnet to be interoperable with the decentralized finance (DeFi) sector as well as a Zero-Knowledge (ZK)-subnet for an additional layer of privacy.

The network also provides eTokens, a colored-coins implementation based on the Simple Ledger Protocol. This eToken protocol allows for a simple and cost-efficient handling of fungible tokens and NFTs. Tokens can be created and traded directly within the Cashtab reference wallet. The capability to handle gas-less transactions as seen with TixTown's CRD token, makes this particularly useful for stablecoins and other use cases where the user can pay transaction fees in the token itself, rather than the native coin.

The eCash engineers follow a unique roadmap that was proposed as early as 2017. The vision was to scale Bitcoin-technology to global scale and make it a public, instant, low fee, high capacity network. A network that would outmatch legacy finance and looming CBDC implementations in scalability, time to finality, and protocol security.

What's the history of eCash?

The project was founded by the Bitcoin ABC node software team as Bitcoin Cash (BCH) in 2017 in order to scale Bitcoin technology to retain its P2P electronic cash properties. 

The Bitcoin ABC team has split from the BCH blockchain in November 2020 to establish a minority fork that received the interim name and ticker Bitcoin Cash ABC (BCHA) by exchanges. Once the new brand came out on July 1, 2021, the network is known as eCash (XEC). Despite splitting away from BCH, the eCash team continues developments as outlined in the initial scaling roadmap.

Founder, Amaury Séchet, was a lead developer at the Snazzy D Compiler and a software engineer at Facebook before his involvement in cryptocurrencies, where he was working on database scaling and also on research and development of digital cash solutions.

What can XEC be used for?

The eCash network follows both the Bitcoin whitepaper and the Avalanche whitepaper (not to be confused with AVAX) and is focused primarily on being a trustless, permissionless, and scalable digital cash network that works with instant transaction finality. It is programmable money anyone can facilitate transactions with in its native XEC currency, but also in form of any kind of tokenized asset like stablecoins or NFTs.

Where can you buy eCash?

XEC tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade eCash is Binance, where the most active trading pair XEC/USDT has a trading volume of $163,742.20 in the last 24 hours. Other popular options include Gate and HTX.

What is the daily trading volume of eCash (XEC)?

The trading volume of eCash (XEC) is $3,569,789.09 in the last 24 hours, representing a 4.60% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for eCash (XEC)?

eCash (XEC) reached an all-time high of $0.0003800 and an all-time low of $0.0₅6518. It’s now trading -98.30% below that peak and 1.90% above its lowest price.

What is the market cap of eCash (XEC)?

Market capitalization of eCash (XEC) is $133,096,979 and is ranked #214 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of XEC tokens (20 Trillion tokens are tradable on the market today).

What is the fully diluted valuation of eCash (XEC)?

The fully diluted valuation (FDV) of eCash (XEC) is $133,097,478. This is a statistical representation of the maximum market cap, assuming the maximum number of 21 Trillion XEC tokens are in circulation today. Depending on how the emission schedule of XEC tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of eCash compare against its peers?

With a price decline of -7.20% in the last 7 days, eCash (XEC) is underperforming the global cryptocurrency market which is down -2.80%, while underperforming when compared to similar Smart Contract Platform cryptocurrencies which are down -3.90%.