[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"b6121dee-7503-4ee4-9a9e-817ee8313d10","updated_at":"2023-08-02T09:48:49.408416+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"Everything you should know about eCash - the privacy-focused cryptocurrency with unique features for secure and efficient digital transactions.","sapo":"eCash (XEC): A cutting-edge cryptocurrency prioritizing privacy and efficiency. Discover its history, unique features, and potential as an investment in this captivating article.","title":"The Complete Guide to Cryptocurrencies: eCash","content":"

eCash (XEC) is a fork of Bitcoin and Bitcoin Cash with a focus on privacy and efficiency. Its unique features make it an appealing option for secure digital transactions and potential investments.

What is eCash?

eCash (XEC) is a cryptocurrency that was formerly known as Bitcoin Cash ABC (BCHA) and was developed and maintained by the Bitcoin ABC project. Led by Amaury Sechet, the project split from the Bitcoin Cash blockchain in November 2020 and was later renamed eCash on July 1, 2021. The cryptocurrency follows the monetary philosophy of economist Milton Friedman and has a total supply of 21 million coins, which is the same as Bitcoin. It introduces innovative features such as the Avalanche consensus layer, staking, fork-free network upgrades, and subchains. With a limited new supply entering the market and a strong focus on fulfilling the vision of Milton Friedman, eCash aims to maintain low inflation and provide users with enhanced features not seen in the Bitcoin project. As of August 2nd, it ranks 70 among cryptocurrencies and has a market cap of $598.06M.

Where to buy eCash?

eCash is listed on 28 different cryptocurrency exchanges, with 36 trading pairs available. The most favored pair is XEC/USDT on Binance, boasting a substantial trading volume of $4.51 million. Traders can conveniently exchange eCash with various fiat currencies, including KRW, INR, USD, and TRY - which were recently added, and several stablecoins such as USDT, BUSD, and USDC.

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How does eCash work?

eCash (XEC) operates as an enhanced version of the Bitcoin Cash (BCH) project, aiming to simplify cryptocurrency usage for payments. It utilizes an EVM subchain to integrate DApps and smart contracts, making it versatile for developers. The protocol allows users to create custom tokens without extensive technical knowledge, appealing to businesses seeking unique revenue streams. With a secure native wallet and integrated Sighash for enhanced security, users can safely store their tokens. Notable features include the Cashfusion Protocol for private transactions, making eCash harder to trace than Bitcoin Cash, and a proof-of-stake consensus algorithm combined with Adaptive Block Size, enabling scalable block sizes up to 1TB. Rapid transaction finality and mass parallelization contribute to eCash's efficiency and speed, promising a user-friendly crypto experience.

What is eCash used for?

eCash (XEC) is used for value transfer within the eCash platform, serving as a native digital asset.
It allows users to send and receive payments quickly and efficiently, similar to a bank account holding fiat assets.
XEC appeals to different types of investors, including individuals, businesses, and developers.
The platform's fast transaction speeds make it attractive for seamless payments.
Compatibility with Ethereum's EVM opens up opportunities for developers to build and deploy DApps on the eCash network.
XEC tokens are frequently traded on cryptocurrency exchanges, providing opportunities for trading and investment due to price volatility.

What makes eCash unique?

Ecash (XEC) is unique due to its specific focus on fulfilling five core missions set forth by its developers:

Anonymous Transactions: Ecash prioritizes anonymous transactions, offering users increased privacy and confidentiality when conducting financial activities.
Immutability of Transactions: Ecash ensures the immutability of transactions, providing a transparent and tamper-resistant ledger, which helps build trust in the system.
Almost Free Transactions: Ecash aims to keep transaction costs almost free, making it cost-effective for users to engage with the network.
Globally Secure Transactions with Fast Finality: Ecash enforces globally secure transactions with finality of fewer than three seconds, reducing the risk of double-spending and ensuring a seamless user experience.
Public Good Infrastructure Funded via Social Contract: The coin's infrastructure is designed as a public good and is funded through a social contract, emphasizing community-driven support and long-term sustainability.

These core missions set Ecash apart as a privacy-focused, efficient, secure, and community-driven cryptocurrency that seeks to integrate seamlessly with the Ethereum ecosystem and the decentralized finance (DeFi) sector.

Can eCash reach $1?

The likelihood of eCash (XEC) reaching $1 seems highly improbable as it is currently trading at $0.00003067.

eCash’s price history

Figure 01: eCash’s price history. Source: BitScreener

To achieve $1, it would need to rise by 24000 times, resulting in a market cap of $19.3 trillion, which is considered unrealistic. Moreover, the suggested growth rate of 25% per year would take 46 years to reach $1, further supporting the notion that it is not feasible.

Is eCash a good investment?

eCash appears to be a promising investment for the future. Several factors support the potential for its price to continue rising:

Unique Features and Anonymity: Experts have predicted that eCash's anonymity and other unique features will contribute to its growth, attracting investors seeking privacy-focused cryptocurrencies.
Increasing Adoption: As more people start using eCash, the demand for the cryptocurrency is likely to increase, leading to potential price appreciation. Similar trends have been observed with other successful cryptocurrencies like Bitcoin and Ethereum.
Political Climate and Financial Independence: The increasing popularity of cryptocurrencies, including eCash, as a means to avoid government control and inflation, is likely to drive further investment in the cryptocurrency market.

Therefore, the prediction from Bitcoin Wisdom is highly optimistic about eCash’s prices.

Predictions of eCash price til 2031

Figure 02: Predictions of eCash price. Source: Bitcoin Wisdom

While all investments carry some level of risk, the data and factors mentioned suggest that eCash has the potential for significant returns in the future. However, investors need to conduct thorough research and consider their risk tolerance before making any investment decisions.

Conclusion

In summary, eCash (XEC) is a privacy-focused and efficient cryptocurrency with unique features, making it attractive for users seeking secure digital transactions. Its community-driven approach and growing adoption suggest promising potential as an investment. However, careful research is advised before investing in eCash or any cryptocurrency.

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The Complete Guide to Cryptocurrencies: eCash

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