The eCash coin was developed by an expert team of BTC developers that worked on Bitcoin Cash, and it’s also a fork of Bitcoin with a touch of an insistent technical roadmap.
The innovative Avalanche Consensus Layer and token layer serve as the perfect technical focal point for eCash. One of the eCash coin’s ultimate goals is to introduce unique features that haven’t been seen in Bitcoin projects. The features include staking, fork-free network upgrades, and subchains.
What is eCash coin?
To understand what is eCash coin is, we will look at the interesting features that differentiate it from all other Bitcoin forks. The eCash platform is built on many fundamental technologies that support the Bitcoin protocol. Some of these technologies include fixed supply and halving schedules. The tech is combined with governance protocol and a modern Proof-of-Stake (PoS) consensus mechanism.
The eCash ecosystem also aims at providing a simple, swift, and secure payment service for both international transactions and settlements. With this in mind, it becomes its goal to be a “universal currency made available to everyone over the globe”.
Its native token “XEC” powers the eCash platform with significant use-cases such as token minting and staking.
- Token Minting: With this feature, XEC token holders can mint tokens with a personalized name, icon, decimal places, and supply using the eCash coin protocol. However, users are required to pay for network transaction fees using XEC tokens. In addition, the eCash platform supports NFTs.
- Staking: This feature allows XEC crypto holders to participate in Avalanche staking as a part of eCash governance.
Initially, the token ticker for the XEC coin was BCHA (Bitcoin Cash ABC). Now, it has undergone rebranding to change the ticker symbol and redenomination of the token. This rebranding allows BCHA coin holders to convert their digital assets to XEC tokens at a ratio of 1:1,000,000.
eCash also aims at being a user-friendly platform with the help of upgrades like “bits”, which makes it possible to send small XEC crypto payments. Users can now alternatively send an amount like 10 bits instead of inputting a cumbersome value like 0.00001 BTC.
The strategies and plans put in place by eCash to increase XEC market value include the XEC token redenomination process. They argue that psychologically, the market analysis suggests that lower unit prices enjoy better bull market appreciation. Therefore, eCash coin described the redenomination process as a “no-brainer”.
Bitcoin Cash ABC and eCash
Bitcoin Cash ABC (BCHA), which is a fork of Bitcoin and Bitcoin Cash (BCH) officially, launched its rebranding process as eCash (XEC) on July 1, 2021. The journey to eCash coin started when a new Bitcoin Cash blockchain separated from the old one with another hard fork update in November 2018. It was at this moment that the Bitcoin Cash SV came into existence while the initial Bitcoin Cash first became known as Bitcoin Cash ABC before maintaining just Bitcoin Cash as its name.
Two years later, in November 2020, the chain split again and this time resulting in the Bitcoin Cash ABC (BCHA) blockchain. The BCHA chain rebranded itself to eCash in July 2021. In addition to the rebranding, eCash brings a redenomination of the token and introduces a Proof-of-Stake (PoS) consensus layer.
Avalanche makes use of four interoperational mechanisms to offer a near-immediate transaction finality combined with low latency, fork-free code upgrades, and high throughput. The Avalanche algorithm is also responsible for the facilitation of the decentralized governance of the eCash coin ecosystem.
Another innovative feature of the XEC crypto network is the CashFusion. eCash plans to ensure users’ complete privacy, which is the central principle of sound money. This innovative plan is what brought about the eCash platform supporting the CashFusion protocol. The Cashfushion protocol is a kind of privacy tech, which is similar to privacy coins.
How to exchange to eCash?
You can buy XEC crypto on Swapzone, which is an eCash exchange aggregator for the best XEC coin rate in the market. Following this step-by-step instruction will help you to get some XEC:
Step 1. Open Swapzone on your web browser.
Step 2. In the “select pair” tab, choose the “send” section and insert the amount of Bitcoin that you are willing to swap for XEC.
Step 3. In the “get up to” section, choose eCash and see the exchange rate.
Step 4. Immediately after you enter the details, Swapzone will provide you with a number of offers. You have the option to choose based on the best rate, fastest, and the one with the best service rating.
Step 5. If you are unsure about a certain exchange, simply click on it and you will get more information on the exchange partner such as pros and cons along with user reviews.
Step 6. Once you find an offer you like, simply click on it and click on “exchange”.
Step 7. Enter the wallet address to receive the eCash crypto. Hit on “proceed to exchange”.
Step 8. After your deposit is received, the exchange partner will then convert your Bitcoin deposit to XEC. Just wait for the process to finalize. It may take some time.
Step 9. Once the process finalizes, you will receive your XEC coins at your wallet address. Take a moment to rate the exchange partner and leave behind an honest review. That’s it, your Bitcoin to eCash exchange is complete.