What is eCash (XEC)? | Who is the founder of eCash?

 What is eCash (XEC)?

ECash (XEC) is a rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It calls itself a "cryptocurrency" which is designed to be used as electronic cash. ECash aims to become a means of transaction used to pay for goods and services. The coin was rebranded on July 1, 2021, and has since tried to differentiate itself from its predecessor. The basic units of eCash are called "bits" and replace the cumbersome decimal places of Bitcoin Cash ABC. Instead of sending 0.00001000 BTC, you would send 10bit with eCash. ECash integrates a Proof-of-Stake (PoS) consensus layer called “Avalanche”, which should not be mistaken for Blockchain Avalanche (AVAX). Following the rebranding, eCash announced that it would convert all BCHA coins to XEC in the ratio of one to one million.

The developers of the cryptocurrency have focused their attention on three main improvements:

Scaling transaction throughput from 100 transactions per second to over five million transactions per second

Improving the payment experience by reducing transaction end times

Extending the protocol and setting up fork-free upgrades

Who is the founder of eCash?

ECash (XEC) is led by its lead developer Amaury Sechet, who was the lead developer of Bitcoin Cash (BCH) and forked that blockchain to establish eCash, the predecessor of Bitcoin Cash ABC (BCHA). That fork happened on November 15, 2020. Ceket then decided to rebrand Bitcoin Cash ABC to establish a new brand identity for eCash, explaining that reducing the decimal places would help the coin's adoption:

“No other penny has eight decimal places. Why should crypto? Cryptocurrencies with low unit value also enjoy high bull market appreciation. Because the eCash team is encouraged by both technology and price improvements, this improvement It was done without thinking.

Ceket was highly active in the development of Bitcoin Cash, kicking off its initial fork from Bitcoin in August 2017, its continuation after Bitcoin SV (BSV) in November 2018, and its most recent fork from Bitcoin Cash in November 2020. Prior to joining Cryptocurrency, he was a software engineer at Facebook and a lead developer at Stupid D Compiler.

What makes eCash unique?

The developers of eCash (XEC) intended the coin to support Ethereum Virtual Machine (EVM)-compatibility and to be interoperable with the decentralized finance (DeFi) sector on Ethereum (ETH). For Coin to be successful, the developers of eCash intend to accomplish five main missions:

1. Ensuring anonymous transactions
2. Ensuring irreversibility of transactions
3. Guaranteed that the transaction will be almost free
4. Implementing globally secure transactions with less than three seconds
5. Designing the coin's infrastructure as a public good, funded through its social contract

To achieve this, the developers of eCash have drawn up an ambitious roadmap, with the following plans:

Canonical transaction ordering to enable scalable block processing

Schnorr Signatures to Enable Batch Signature Verification

Rapid block diffusion via graphene or other

UTXO Commitment with Blockchain Pruning and Faster Initial Sync

merclix-meta tree to enable scalable block processing

Adaptive block size to support market-driven growth for 1TB blocks

How many ECash (XEC) coins are in circulation?

eCash (XEC) is not a token, but it follows many of the rules already established for Bitcoin (BTC). It shares bitcoin's supply and distribution model, meaning that every 210,000 blocks, roughly every four years, the miner's rewards are cut in half. ECash's supply cap is the same as bitcoin's 2.1 quadrillion satoshis, yet instead of those 2.1 quadrillion SATS divided by 100 million to get 21 million BTC, it was divided by 100, yielding 21 trillion XEC. This is because it is easier for users to mentally understand integers and this decision aligns with the coin's goal of mass adoption.

How secure is eCash network?

Unlike the Bitcoin Cash ABC (BCHA) network, which is secured using a proof-of-work (PoW) consensus mechanism, the developers of eCash plan to add proof-of-stake (PoS) to speed up transactions. What they call "post-avalanche consent" will see increased security and fork-free upgrades and will allow for enhanced opcodes for enhanced script capability. An avalanche layer will be added on top of the existing PoW to take advantage of the benefits of both.

XEC is not an ERC-20 token, it is its own blockchain similar to Bitcoin (BTC).