eCash is defined as a cryptocurrency designed to be used as electronic cash. It appeared in 2021.
What is eCash?
eCash, a rebranded version of Bitcoin Cash ABC, a fork of Bitcoin Cash, appeared in 2021. It describes itself as a cryptocurrency developed to be used as electronic money. The purpose of eCash is to be a transaction tool used to pay for goods and services. Immediately after the rebranding carried out on July 1, 2021, work towards the targets began. To get rid of BCHA’s cumbersome decimal system, all BCHA currencies have been converted to XEC at a ratio of 1:1,000,000. Instead of decimal place, a new unit called “bit” has emerged.
eCash is an electronic cash platform that allows users to send cryptocurrencies anonymously and directly. It enables users to send cash and cryptocurrencies in a peer-to-peer (P2P) format. Its developers have increased the transaction speed from 100 per second to over 5 million per second so that eCash can be used as electronic money. In this way, transaction confirmation times have been shortened and it has made it possible to update the protocol without expansion or bifurcation. These studies have been important on the way to the goals. In addition, eCash provides compatibility with EVM. It showed its difference from its competitors with its improvements in scalability and speed.
Properties
- Transaction costs are very low. On a global basis, the transaction can be completed in less than three seconds.
- Transactions in eCash cannot be changed and are made anonymously.
- It has designed and contractually financed the crypto infrastructure in the public interest.
- It adopts a similar model to Bitcoin in mining. With the halving program implemented, it is struggling with the deflationary maximum supply figure.
- It has an expandable structure that does not require bifurcation.
- Scalability is increased without sacrificing security, with capabilities such as UTHO commit, Meta tree, and batch signature verification.
What is XEC Coin?
The native cryptocurrency of the eCash platform is XEC. It was created for users to send money without the need for any middleman. XEC Coin is targeted at Milton Friedman’s vision of financial freedom and is designed to make sending money as easy as sending an email. Also, XEC Coin works as a governance token. Providing the decentralization of the platform, XEC Coin offers its holders the opportunity to participate in the DAO and vote on the decisions to be taken.
Users who want to create dApps and tokens within the platform can run smart contracts with XEC coin. To deploy these contracts, developers must pay with XEC. Also XEC; It offers passive income opportunity through dividends, staking and mining rewards. Transactions with XEC Coin take place in a few seconds, and XEC can be used for paid transaction fees. In addition, XEC Coin holders can lock their assets to the platform’s smart contracts with a certain maturity and earn additional token rewards at the end of the maturity.
How And Where To Buy eCash (XEC)?
XEC is the native cryptocurrency of the ECash platform. It is listed on many cryptocurrency exchanges. As an example of these; Platforms such as Binance, KuCoin, Bitfinex, Gate.io, OKX, Bithumb, Huobi, Bybit, MEXC, Upbit, Bitrue can be given.
Investors who want to buy XEC Coin must first become a member of one of these platforms and create an account. Users who perform identity verification can purchase the desired amount of XEC on the trading page. Investors can use their purchased XEC Coins for transactions or store them in secure wallets.