eCash is a natural continuation of the Bitcoin cash project, but the origin of the concept of eCash, that is, the origin of e-cash, was proposed in 1983, before the issuance of Bitcoin. The current eCash was renamed from the BCH forked chain Bitcoin ABC in July 2021. The token name will also be renamed from the original BCHA to XEC. Gate.io now fully supports the eCash(XEC) network upgrade plan.
eCash inherits the BCH Core technology lineage, and the decentralization is more thorough. In order to complete the mission of establishing global e-cash, many infrastructures need to be rebuilt after focusing on Avalanche protocol. Presently, unprecedented concepts in Bitcoin projects have been introduced, such as collateral, forkless network upgrade and sub chain. Taking firm steps towards the goal of global e-cash, the project team has always firmly believed that eCash will redefine wealth when the next era of world prudent currency comes.
How does XEC Work?
On november 15, 2020, the Bitcoin cash (BCH) blockchain was split into two chains, one of which was BCHA, the predecessor of eCash. Scalability is the advantage of the eCash network. After the Avalanche consensus mechanism is introduced, it can achieve almost immediate confirmation time. When eCash performs on-chain scalability, various technologies are improved and optimized so that the system can safely and effectively handle larger blocks. In addition, any node operator can easily adjust its block size limit by "eliminating the immediate implementation bottleneck to increase the block size limit" and "laying the technical foundation for future large-scale on-chain scalability".
In addition, eCash network combines the privacy oriented blockchain with EVM sub-chain, allowing developers to easily create Dapps and smart contracts, while giving developers permission to transfer or extend the current DApp of Ethereum to eCash network without reprogramming their projects. This is one of the important principles of eCash network operation.
In the latest eCash development blog（ https://www.bitcoinabc.org/2022-05-02-avalanche-development-update/）, the implementation of the eCash project after the Avalanche consensus has reached the incubation status. After the incubation stage, Avalanche Post-Consensus will be deemed to be effective on the eCash network. This means that there will be enough nodes to run the protocol and enough XEC staking to make the protocol run reliably and safely. More features are still being developed.
What is XEC？
Xec is a token of eCash ecosystem governance. It is also a new cryptocurrency based on long-term economic theory and more than 10 years of experience in real world cryptocurrency. After changing from BCHA to XEC, the number of tokens is split according to 1 BCHA=1000000 XEC. The total issuance amount is 21 trillion. XEC practices the concept of Bitcoin as "peer-to-peer digital cash", so that users using XEC can enjoy low handling fees and reliable security when adopting, paying and exchanging. The team supports innovation without license for XEC's development on Avalanche network protocol, making XEC more thoroughly decentralized.
In addition, XEC is also a reward for eCash network to encourage stakers to put forward suggestions to help guide the development direction of the network, which not only makes developers on the network more actively participate in centralized governance, but also ensures the cohesion of the network to a certain extent.
XEC follows the halving time of Bitcoin. Like Bitcoin, XEC will not be burned to deflate, and its issuance will not be controlled by the project party or any individual or group. However, XEC has issued more than 90% of its assets, and the subsequent market supply will be very limited. The more investors hold XEC assets, the more obvious the scarcity will be.
In the future, with the official opening of eCash's staking, users are bound to get more rewards when staking XEC tokens. It is also hoped to further enhance ecosystem prosperity and more harmonious community governance. The important thing is to endow more value to help coin prices rise.
XEC Crypto Wallet
In addition to placing XEC in the Gate.io exchange to facilitate trading, XEC can also be placed in the crypto wallet.
The official wallet of eCash is Electrum ABC, which is a desktop eCash wallet for multi-platforms. It supports mnemonic phrases, hardware wallets, multi-signature wallets and importing private keys. eCash uses sighash to improve the security of wallets. Through this system, investors can also monitor their assets and purchase, sell and trade other cryptocurrencies in their wallets.
Meanwhile, the official listed wallets supporting XEC include Cashtab (web & Google browser extension), ViaWallet and raipay. In addition, there are many mainstream crypto wallets in the market, such as MetaMask and Wallet.io, etc. all support XEC's saving and interaction.
There are two schools of thought in determining the price of eCash.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of eCash, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of eCash from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of eCash on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for eCash as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for eCash and the cryptocurrency market as a whole.
2. What is the highest price of eCash in history?
eCash achieved the all-time high of €0.00036 in 2021-09-04, and is currently trading at €0.00003.
3. What is the lowest price of eCash in history?
In 2021-07-20, eCash reached the all-time low of €0.00002.
4. Should I buy eCash now?
It is important to remember that eCash, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.