What is eCash? A Crypto Designed to Be Used as Electronic Cash

What Is eCash Crypto?

eCash crypto is a digital currency that is developed by the same team that created Bitcoin Cash. It is based on Bitcoin, but with a more ambitious technical plan. eCash wants to achieve key goals in blockchain scaling, and bring new features to a Bitcoin project, such as earning rewards for holding tokens, upgrading the network without forks, and creating subchains, while keeping the same basic features that made Bitcoin successful, such as the same limited supply, reward halving, and original block.

Founders of eCash 

eCash crypto was launched by a skilled team of developers, led by Amaury Sechet, who also founded Bitcoin Cash. On July 1, 2021, Bitcoin Cash ABC (BCHA) changed its name to eCash crypto. This change did not affect the blockchain or the tokens. It only changed how users see them in wallets and exchanges. For example, the main unit is now bits (2 decimal places) instead of BCHA (8 decimal places), and the rate is 1 BCHA = 1,000,000 XEC.

Where to use the XEC Token?

The eCash network’s own token, XEC, has many functions. It can be used for token creation, allowing XEC holders to create tokens with a custom name, supply, decimal places, and icon through the eCash platform. Users have to pay network transaction fees in XEC tokens. The eToken protocol also allows NFTs. Moreover, XEC token holders can join Avalanche Staking, which is part of eCash governance. The eCash network protocol updates occur twice a year on November 15th and May 15th, which all node operators have to follow.

eCash Crypto Price Overview

As per CoinGecko, today, eCash crypto was priced at $0.00003300 with a 24-hour trading volume of $5,767,251.19. This shows a 2.55% price rise in the last 24 hours and a 1.30% price rise in the past 7 days. With 20 Trillion XEC in circulation, eCash has a market cap of $644,555,622.

The 24-hour trading volume of eCash crypto is $5,777,193, which is a 18.20% increase from one day ago and indicates a surge in market activity.

The highest price for eCash crypto is $0.00038001, which was reached on September 04th, 2021 (over 2 years ago). Compared to the current price, this is 91.40% lower.

The lowest price for eCash crypto is $0.00001847, which was seen on July 20, 2021 (over 2 years ago). Compared to the current price, this is 77.70% higher.

The fully diluted valuation (FDV) of eCash crypto is $691,175,679. This is a theoretical representation of the maximum market cap, assuming the maximum number of 21 Trillion XEC tokens are in circulation today. It might take several years before FDV is achieved, depending on how the XEC tokens are distributed.

Conclusion

eCash is a digital currency that aims to improve on Bitcoin by offering faster, cheaper, and more scalable transactions, as well as new features such as staking, subchains, and token minting. eCash is the result of a rebranding of Bitcoin Cash ABC, which was founded by the same team that created Bitcoin Cash. eCash has its own token, XEC, which has a fixed supply and a halving schedule similar to Bitcoin. eCash’s price went up recently, but it is still far from its all-time high.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.