eCash

eCash (XEC)

Milton Friedman, the grandfather of the electronic cash concept, said: “I think the Internet will be one of the major forces in reducing the role of government. reliable electronic money." At this point we see that his words were prophetic. The best way to describe what the eCash cryptocurrency is is to quote the official website's definition: “Introducing eCash: a new battle-tested cryptocurrency built on centuries of economic theory and over a decade of experience. real crypto experience. eCash is the implementation of the technology-enabled sound money envisioned by luminaries of monetary philosophy such as Milton Friedman.” There is a cryptocurrency called eCash (XEC), which is used to pay for the execution of smart contracts and close network fees. By the way, the network charges very low transaction fees.

History of the eCash (XEC) Cryptocurrency

The cryptocurrency that exists today as eCash was originally known as Bitcoin Cash ABC (BCHA). In July 2021, it was renamed eCash (XEC) and changed its purpose to a 1:1,000,000 ratio. The split was due to disagreements within the team. After the split, the newly emerged eCash received the Avalanche consensus proof-of-stake level, which made staking, forkless updates, subchain implementation possible, and raised transaction speed to a higher level.

Advantages of the XEC cryptocurrency

1. Consensus. eCash uses a hybrid consensus mechanism based on both the Proof-of-Work and Avalanche Proof-of-Stake systems. Scalability Avalanche supports low-fee transactions even under high network loads and reduces confirmation times to almost instantaneous.
2. Management. The team reinvests all proceeds from eCash into the further development of the project and constantly improves the characteristics of the cryptocurrency. All annual distribution of funds is carried out by the Global Network Council (GNC).
3. Etokens. ECash gives its community the opportunity to create their own tokens. Users can clarify all the characteristics on the dashboard - token name, offer, decimals, logo, and then trade and use them. This feature is very useful for businesses who want to try their hand at the crypto market.
4. CashFusion. Because eCash values user privacy, it supports the CashFusion protocol. It offers online privacy management and allows private transactions. Part of the CashFusion protocol is a zero-knowledge subchain that provides a high level of privacy and security.

Disadvantages of XEC Cryptocurrency

1. Slow adoption . Since the project in its current form is relatively new, the audience still needs time to get to know it better and accept eCash.
2. No exact picture. Some features are still under development.