eCash (XEC) is a cryptocurrency created to facilitate transactions for goods and services. It emerged from the Bitcoin Cash ABC fork, itself a derivative of Bitcoin Cash and Bitcoin. Launched in July 2021, eCash seeks to improve international payment systems by combining Bitcoin's key features, such as its halving schedule and fixed supply, with new governance protocols and a Proof of Stake (PoS) consensus mechanism to improve security and usability.
The development of eCash began with the late 2020 Bitcoin blockchain fork that led to Bitcoin Cash ABC, later rebranded to eCash to encourage wider use. It features a multi-layer architecture that supports the creation of smart contracts and decentralized applications (DApps) without sacrificing scalability. Its use of an Ethereum Virtual Machine (EVM) subchain for smart contracts ensures both compatibility with Ethereum and scalability, encouraging Ethereum developers to port or develop new DApps on its platform.
eCash introduces eTokens, similar to Ethereum's ERC-20 tokens, which allow developers to create custom tokens for DeFi applications and payments. Launching these eTokens is low-cost, making token creation more accessible. eCash also offers a staking feature that rewards XEC holders, improving network security and encouraging user participation.
Its governance model is decentralized, enabling stakeholders to participate in the platform's development through proposals. The CashFusion protocol addresses privacy concerns, offering optional privacy features that aim to balance user privacy with regulatory compliance.
The eCash wallet is designed with a focus on security and user experience, facilitating easy management of assets and rewards. eCash's technological advancements is the Avalanche consensus protocol, which emphasizes scalability and efficiency, presenting an advancement over traditional blockchain limitations.
