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About eCash (XEC)

eCash (XEC) is a digital currency that aims to provide fast, low-cost payment solutions with a focus on user-friendly applications and widespread adoption. It originates from a rebranding and further development of Bitcoin Cash ABC, one of the forks of Bitcoin Cash. eCash introduces new features such as the Avalanche consensus protocol to achieve faster transaction finality and aims to be an electronic cash system that is not only practical for daily transactions but also embraces technological advancements in the cryptocurrency space.

    eCash Frequently Asked Questions (FAQ)

      What is eCash (XEC) and how is it different from Bitcoin Cash ABC (BCHA)?

      eCash (XEC) is a cryptocurrency that emerged from the rebranding of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin Cash (BCH). eCash aims to be an electronic form of cash that brings an efficient and secure method of making online payments. The main differences from BCHA are a decimal shift, with 1 eCash (XEC) being equivalent to 100,000,000 of the old BCHA coins, the implementation of the Avalanche consensus layer for improved security and transaction finality, and a new governance system. Additionally, eCash incorporates staking through Proof of Stake (PoS) capabilities augmenting its existing Proof of Work (PoW) system.

      What is the significance of 'bits' in eCash's transaction system?

      In eCash's transaction system, 'bits' represent digital tokens or units of value used to make secure and anonymous payments in the electronic cash system. They are integral to the process, facilitating the transfer of funds between parties without the need for physical currency, and allowing for discrete transactions that protect user privacy.

      Who is Amaury Sechet and what role did he play in the creation of eCash (XEC)?

      Amaury Sechet is a software developer known for his role in the cryptocurrency space. He is the lead developer of Bitcoin ABC, the software that implemented the Bitcoin Cash hard fork from Bitcoin in 2017. In 2021, Bitcoin Cash ABC rebranded to eCash (XEC), and Sechet continued to be instrumental in its development, leading the team that is responsible for its creation and ongoing development, marking his significant role in the evolution of eCash.

      How did the eCash (XEC) rebranding affect the decimal places used in cryptocurrency transactions?

      The rebranding of eCash (XEC) from Bitcoin Cash ABC (BCHA) involved a denomination change where 1 eCash (XEC) is equal to 100,000,000 old BCHA. This shift effectively moved the decimal place eight positions, making eCash resemble more traditional currencies in its transactional amounts and pricing, which the team believes enhances usability and accessibility for typical users.

      What is the purpose of the Avalanche consensus layer in the eCash network?

      The purpose of the Avalanche consensus layer in the eCash network is to enhance the network's security and to enable faster finality of transactions. It serves as an additional layer of consensus on top of the existing Proof of Work mechanism, allowing for quick and secure transaction validation without significantly increasing energy consumption.

      How are BCHA coins converted to eCash (XEC) during the rebranding process?

      During the rebranding from BCHA to eCash (XEC), coins were automatically converted on a 1:1,000,000 ratio. For every 1 BCHA held, holders received 1,000,000 XEC. This was done through an update to the network protocol, so BCHA holders did not need to perform any specific action as the conversion was handled by the network itself.

      What improvements are the developers of eCash aiming to implement?

      The developers of eCash are focused on advancing eCash as a highly scalable, secure, and user-friendly cryptocurrency. Key improvements they aim to implement include increasing the block size for better transaction throughput, enhancing the underlying network architecture to facilitate faster transactions, adopting more sophisticated cryptographic techniques to ensure added security and privacy, improving wallet functionality for ease of use, and implementing features like Avalanche post-consensus protocols to achieve near-instant transaction finality.

      What is eCash's approach to Ethereum Virtual Machine (EVM) compatibility?

      eCash aims to introduce EVM compatibility by implementing a sidechain specifically designed to be compatible with Ethereum smart contracts. This sidechain, referred to as an 'EVM sidechain', will allow eCash to support Ethereum-based applications and assets, enabling users to leverage the benefits of both ecosystems.

      How does eCash (XEC) plan to integrate with the decentralized finance (DeFi) sector?

      eCash aims to integrate with the DeFi sector by building upon its blockchain's scalable and secure foundation to support various DeFi applications. The development of smart contract capabilities, the enablement of tokenization, and fostering partnerships with existing DeFi platforms are methods that eCash may utilize to facilitate integration and drive adoption within the DeFi ecosystem. The eCash team intends to create an environment that encourages the development of decentralized applications (dApps) that can tap into DeFi services, such as lending, borrowing, and yield farming, among others.

      What is the total supply cap for eCash (XEC) and how is it calculated?

      The total supply cap for eCash (XEC) is set at 21 trillion coins. This cap is calculated based on the original design of Bitcoin Cash (BCH), which had a supply limit of 21 million. When BCH was rebranded to eCash, the decision was made to multiply all balances and the new supply cap by a factor of one million, resulting in the 21 trillion total supply limit for eCash.

      What changes do the developers of eCash intend to make to the network's security?

      The developers of eCash aim to enhance network security by implementing a new Avalanche post-consensus protocol, which would provide rapid transaction finalization and improve resistance to certain types of attacks. Additionally, they may explore more advanced cryptographic techniques and continuously update the protocol to address emerging security challenges.

      Why is eCash (XEC) not considered an ERC-20 token and what blockchain does it utilize?

      eCash (XEC) is not considered an ERC-20 token because it does not conform to the ERC-20 standard, not operate on an EVM compatible blockchain. Instead, eCash utilizes its own blockchain, which is a continuation of the Bitcoin Cash ABC (BCHA) blockchain following a rebranding and protocol modification process.