eCash (XEC), a cryptocurrency aimed at facilitating electronic transactions, has gained attention in the digital currency space. Originally a rebranding of Bitcoin Cash ABC, it was developed by a team led by Amaury Séchet, who previously contributed to Bitcoin Cash (BCH).
What Is the Background of eCash (XEC)?
The Bitcoin Cash blockchain experienced a split on November 15, 2020, leading to the creation of the Bitcoin Cash ABC chain, which introduced the cryptocurrency BCHA. In the summer of 2021, BCHA transitioned to eCash (XEC), positioning itself as a progressive form of digital currency.
How Does eCash Differ from Bitcoin?
eCash aims to serve as a digital payment method, allowing users to make purchases online without traditional banking. It employs a proof-of-stake consensus model, differing significantly from Bitcoin’s proof-of-work system, which may enhance its energy efficiency. Despite its low trading price, which could be a barrier for potential users, eCash introduces innovative features such as staking and fork-free upgrades.
- eCash is a fork and rebranding of Bitcoin Cash ABC.
- It operates on a proof-of-stake mechanism for improved energy efficiency.
- XEC trades at low prices, potentially deterring some investors.
For those looking to purchase XEC Coin, the safest option is Binance, the largest cryptocurrency exchange by trading volume. After creating an account on Binance, users can deposit either cryptocurrency or fiat money into their wallets and begin purchasing XEC using trading pairs like XEC/USDT or XEC/BUSD. The transaction process is straightforward, allowing investors to buy XEC through an intuitive trading interface.