What is Coin XEC? Full Guide to the Latest Coin eCash Project 2022

You may not know this, but Bitcoin Cash ABC (BCHA), a forked cryptocurrency project from Bitcoin and Bitcoin Cash, has rebranded to eCash (XEC). In simpler terms, eCash (XEC) is now the native cryptocurrency of the software company Bitcoin ABC.

In today’s article, let’s explore the eCash (XEC) project in detail with Finance Solutes. What makes eCash (XEC) stand out? What is the XEC coin? Where can you buy XEC coins? 

1. WHAT IS ECASH?

eCash is designed to function as a cryptocurrency. Much like how email revolutionized messaging by making it possible to send messages directly online, eCash allows users to send money online to others — including making payments for goods and services.

As mentioned earlier, eCash was previously known as Bitcoin Cash ABC (BCHA). The eCash branding took effect on July 1, 2021. Exchanges were encouraged to update older listings accordingly, but you may still find eCash listed as BCHA on some platforms that haven’t completed the transition.

The project relaunch came with major upgrades, including the integration of a proof-of-stake consensus layer called Avalanche, staking functionality, and superior transaction speed. Following the upgrade, all user-held BCHA coins were converted to XEC coins at a rate of 1:1,000,000.

1.1. XEC Coin Price

As of May 29, 2022, the price of eCash (XEC) on CoinMarketCap is $0.000047 with a 24-hour trading volume of $10,076,770 USD.

1.2. Is eCash the same as Bitcoin ABC?

eCash is a cryptocurrency, whereas Bitcoin ABC is the software that businesses use to interact with and maintain the eCash network. The team behind the Bitcoin ABC software also operates under the same name.

1.3. XEC Coin Supply

eCash (XEC coin) has a fixed supply of 21 million — similar to Bitcoin. Its default base unit has two decimal places (100 satoshis), while Bitcoin’s base unit has eight decimal places (100,000,000 satoshis).

90% of the total XEC coin supply has already been mined. The inflation rate was below 2% in 2021 and is gradually approaching zero.

2. HISTORY OF ECASH

So how did the development of eCash (XEC) begin? eCash (XEC) is led by talented developer Amaury Sechet, who also played a major role in launching Bitcoin Cash before fading from public view between 2018 and 2020.

The XEC coin, known as Bitcoin Cash ABC (BCHA) before its July 2021 rebrand, originated as a fork from Bitcoin Cash (BCH) in November 2020. BCH itself was a fork of Bitcoin, driven by developers who disagreed with the direction of the Bitcoin development community.

Bitcoin Cash was split into two separate projects: BCHA and Bitcoin Cash Node (BCHN). According to reports, these forks stemmed from Amaury’s controversial decision to require an 8% donation from miners to a development fund.

NOTE: Some exchanges still list eCash under the old BCHA code.

From August 2021, eCash began implementing several security features still in development. Among them is CashFusion — a privacy protocol that “mixes” transactions with those of other users to obscure activity.

This mixing method is similar to that used in the privacy-focused Monero, and it has sparked debate due to potential appeal to cybercriminals and ransomware attackers.

The next big challenge in eCash’s roadmap is scalability. The network currently supports up to 100 transactions per second (TPS), but aims to reach five million TPS. To achieve this, developers plan to implement a scalable blockchain architecture and strip back the QUIC networking protocol.

3. PROJECT HIGHLIGHTS OF ECASH

eCash unlocks powerful potential by combining Bitcoin’s core technology — such as fixed supply, halving schedule, and genesis block — with modern consensus and governance via proof-of-stake.

eCash continues the legacy of the Bitcoin Cash project and has been developed by the Bitcoin ABC team since early 2017.

3.1. AVALANCHE

Avalanche is a revolutionary consensus algorithm that enables instant transactions, enhances security, and supports non-disruptive upgrades. Competing coins like Bitcoin Cash have lost significant value due to endless and contentious forks.

Avalanche enables decentralized, politically-neutral, and technically-efficient governance for eCash.

3.2. Staking

eCash offers a technical solution to a political question: What is the best money?

The monetary ecosystem includes many stakeholders. Proof-of-work mining has a proven track record and ensures continued network support from stakeholders.

Recent crypto developments have also shown the value of ownership-based staking. Since eCash focuses on creating the best money possible — not on Twitter hype — all technically feasible options are considered.

Avalanche staking will play a crucial role in eCash’s governance and user incentives.

3.3. Governance

Protocol revenue is continuously reinvested into the eCash ecosystem to fund critical infrastructure and development initiatives, with funding approvals managed by the Global Network Council (GNC).

3.4. ETOKENS

eCash supports tokens that anyone can create and trade.

You can instantly create your own token with a name, supply, decimal precision, and symbol — all at the low cost and high speed of a single eCash transaction (much less than $0.01).

3.5. Small, Convenient Units (BITS)

No other currency has 8 decimal places. Why use eCash?

Cryptocurrencies with lower unit values are better suited to bull markets. Since the eCash team is incentivized to maintain the highest possible valuation, this shift is strategic and intentional.

3.6. CASHFUSION

Can’t always say what you think?

Big Tech increasingly controls what you see and say. On the internet, privacy is the only way to protect your personal freedom.

eCash was built by the original Bitcoin developers who had long been addressing internet and financial privacy issues even before Satoshi’s whitepaper.

Unfortunately, surveillance and data analysis tech has advanced while Bitcoin’s privacy tech has stagnated.

Privacy is fundamental to money. That’s why eCash supports the CashFusion protocol.

CashFusion provides anonymity comparable to leading privacy coins while preserving auditable supply limits. It can be turned on or off anytime via Electrum ABC.

4. ROADMAP

The eCash development team focuses on three main goals:

• Scaling transaction throughput (from ~100 TPS to over 5 million TPS)
• Enhancing payment experience with instant and reliable processing (all transactions within 3 seconds)
• Enabling protocol upgrades without hard forks to support future economic demands

The eCash network upgrades every year on May 15 and November 15. These upgrades are mandatory for all node operators and are scheduled by timestamps rather than block height to assist in business planning.

You can view the full eCash (XEC) roadmap based on these goals at: https://e.cash/#roadmap

5. XEC COIN STORAGE WALLETS

eCash is supported by major wallets including Cashtab, ViaWallet, and ElectrumABC.

6. WHERE TO BUY XEC COIN?

Since eCash transactions occur directly between individuals, you don’t need a bank account to own it. All you need is a digital wallet. Once you have a wallet, you can buy eCash from a cryptocurrency exchange and transfer it to your wallet. Others can also send you eCash directly.

Here are some recommended exchanges to trade eCash (XEC coin):

• Binance
• Huobi Global
• OKEx
• Mandala Exchange
• Upbit

7. SUMMARY

This Finance Solutes article has summarized the essential information about the eCash project (XEC coin), such as: What is eCash? What are the project highlights? Its formation history? XEC coin storage? Where to buy XEC? If you’re interested in eCash — one of the top 100 cryptocurrencies by market cap — feel free to share your thoughts in the comments below!