What is eCash (XEC)? How to Buy XEC Token in India?

Key Takeaways:

• A rebrand of one of the forks from Bitcoin, eCash is now listed on CoinDCX.
• Having a surge of 1.35% in 24 hours, the token has been aiming for a much better ecosystem than its predecessor.
• Its unique features make XEC stand out, along with its unique consensus mechanism layer.

What is eCash (XEC)?

Designating itself as a crypto asset that has been designed to be used as the digital cash, eCash (XEC) is a rebrand of Bitcoin Cash ABC, which in itself is a product of a fork from Bitcoin (BTC) and Bitcoin Cash (BCH). eCash is determined and is moving towards solving and becoming a means of transaction that is used to pay for goods and services.

After its rebranding on July 1, 2021, XEC has been working hard to identify itself differently from its predecessor, BCH. Working on a proof of stake layer, ‘Avalanche’; not the Avalanche blockchain (AVAX), XEC’s consensus algorithm brings a few added features to the table and to the eCash protocol:

• rock solid security
• lightning fast speed
• dynamic capabilities.

Once the rebranding was completed, eCash announced that it is working towards converting all BCHA coins to XEC at a ratio of one to one million. The developers of eCash (XEC) have already decided on the developments they will bring to the protocol. They have revealed that their sight set on three main improvements:

• Improving and scaling the transaction throughput of XEC from 100 transactions per second to more than five million transactions per second.
• Growing on the payment experience by working on reducing the transaction finality time.
• Work on growing the XEC protocol and establishing fork-free upgrades.

Who are the founders of eCash (XEC)?

The project of eCash (XEC) has been under the capable hands of Amaury Sechet, who has been the lead developer spearheading the Bitcoin Cash (BCH) project. He has also been the one to initiate a fork on November 15, 2020, creating the precursor to eCash, known as Bitcoin Cash ABC (BCHA).

Subsequently, Sechet undertook the strategic decision to undergo a rebranding of Bitcoin Cash ABC, a move aimed at crafting a fresh and distinctive identity for eCash. This transformation involved the adjustment of decimal places, a measure believed to enhance the coin’s appeal and facilitate its wider adoption.

How does eCash (XEC) work?

The eCash platform has worked on including a multi layered approach to cater to various needs of the developers. Whether they want to create using smart contracts or create decentralized apps (DApps), XEC has the means to create both.

This strategy integrates an Ethereum Virtual Machine (EVM) subchain with a blockchain dedicated to safeguarding privacy. By ensuring the strict segregation of smart contract functionality, it becomes possible to significantly enhance the scalability of blockchain networks while avoiding persistent issues.

Leveraging the EVM subchain enables Ethereum developers to seamlessly extend or migrate their decentralized applications to the eCash platform without the need for prior reconfiguration. eCash offers a multitude of features, encompassing everything from eTokens to a comprehensive governance protocol.

What makes XEC Unique Use Cases?

Even though it has been rebranded from a previous token, there are a few unique features of XEC that help the token stand out among all the existing crypto projects. They are as mentioned below:

• Avalanche, a revolutionary consensus algorithm which enables instant transactions, enhanced security, and fork-free upgrades. Other Bitcoin competitors (such as Bitcoin Cash) lost significant value from contentious (and seemingly endless) forks.
• The smallest XEC is referred to as Bits, as money shouldn’t have 8 decimals.
• Ensuring the immutability of the transactions is their anonymity.
• Making sure that the transactions remain almost free.
• Bringing in ways to globally secure transactions with a finality of fewer than three seconds.

eCash (XEC) Price Analysis

Source: Tradingview

• eCash price today is $0.000023. It has a 24-hour trading volume of $11,483,902. The eCash price has experienced a surge of 1.12% in the last 24 hours.
• Upon reaching a value of $0.000045 back on July 1, 2023, the value of XEC has seen a consistent decline till the beginning of this week nd currently trying to recover its price and reach the $0.000025 mark again.
• It is currently showing a possibility of reaching its mark by the end of this week. However, if the journey stays similar and it reaches the $0.000025 mark, XEC may reach the previous value of $0.000045 by the end of this month.

How to Buy XEC Tokens in India?

To buy XEC Token in India, just follow the below mentioned steps:

• Download the CoinDCX Crypto Wallet
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, add funds and buy XEC Tokens.