What is eCash (XEC)?

eCash (XEC) is the revamped iteration of Bitcoin Cash ABC (BCHA), which itself is a popular fork of Bitcoin Cash (BCH). True to its name, eCash (XEC) is designed to become a cryptocurrency that people can use for peer-to-peer payments of everyday goods and services in the real world. It also makes it possible to send money directly to each other similar to email. This project takes inspiration from the monetary philosophy of the deceased economist Milton Friedman, who predicted an internet-powered currency, eCash (currency designed to act as electronic cash), 10 years before the launch of Bitcoin. eCash got this name on July 1, 2021, before which it was known as Bitcoin Cash (BCHA). This renaming event also simplified the unit structure by removing inconvenient decimal places, as all BCHA was converted to XEC at a 1 million to 1 ratio (1 BCHA = 1,000,000 XEC). This change makes it easier to send smaller amounts without dealing with decimal values.

Unlike Bitcoin, which has 8 decimal places in its base unit, Satoshi; eCash (XEC) has only 2 decimal places in its base unit, "Bit". The maximum supply of XEC tokens is 21 Trillion, out of which, 90%25 has already been mined. Like Bitcoin, XEC also undergoes periodic halving events every 4 years. For the consensus, mining, security, and fork-free updates, eCash uses an innovation variation of PoS (Proof-of-Stake) consensus called Avalanche. Thus, the holders of XEC coins can participate in the staking protocols of the platform to get network rewards and vote in its governance.

How does eCash (XEC) work?

eCash (XEC) operates on a proof-of-stake consensus mechanism powered by its native token XEC. However, this PoS consensus is not the usual one. Instead, it uses the Avalanche technique to enable fast transaction finality and prevent network attacks.

Avalanche is a combination of various technical upgrades in the PoS mechanism of eCash that serve as the roadmap for the platform's future. One of these upgrades in Avalanche involves the setup of canonical transaction ordering (CTOR), a protocol that requires transactions within each block to be arranged according to their transaction IDs. Another important feature rolled out in Avalanche is the post-consensus upgrade, allowing nodes to quickly agree on the live status of blocks. In the future, it will also roll up the pre-consensus feature that will enable the eCash network to agree on individual transactions before they get mined into blocks. All these technological advancements aim to make the eCash network faster, scalable, and more secure than its predecessors (Bitcoin, Bitcoin Cash, etc.).

For network governance, eCash has a GNC (Global Network Council), a group of proven XEC stakeholders. GNC guides in eCash policies, reinvestment of funds, and other protocols. It also enjoys a final say in the funding proposals related to eCash.

Besides being used as a peer-to-peer transaction tool, eCash also allows its users to design and create their own tradable eCash-based tokens, called eTokens at a low cost (less than $0.01) and high speed. They can even choose the name, supply, decimal places, and icon of the eTokens.

For further security in its transactions, eCash supports the CashFusion protocol. This protocol allows eCash users to perform multi-party transactions with other network participants securely and confidentially. It makes it difficult for chain analysis companies to track your transactions involving eCash by keeping the sender anonymous. Currently, this protocol is only available on the Electrum ABC crypto wallet, the official wallet of eCash. However, the platform is planning to make it available on other popular crypto wallets. The users can turn the Cash Fusion protocol on or off at any time through their Electrum ABC wallet. Through this protocol, eCash claims to have more advanced privacy tech than its parent crypto, Bitcoin.

If we talk about the tokenomics of eCash (XEC) tokens, 90%25 of their total supply has been already mined, while the remaining 10%25 is being released with a diminishing inflation rate, just like Bitcoin. It follows Bitcoin's supply and distribution model under which after every 210,000 blocks of XEC get mined, its network reward reduces to half. Unlike many other coins, in which founding teams own a big portion of their total supply, the XEC dev team only holds a small amount relative to the total supply.

How to Buy eCash (XEC) in India?

There are many platforms where you can invest and trade eCash (XEC) in India.

One such platform is Flitpay. To buy eCash (XEC) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy eCash (XEC) and execute the eCash (XEC) purchase.

You can instantly convert your INR to eCash (XEC) and eCash (XEC) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy eCash (XEC)?

eCash (XEC) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like Flitpay. You can also hold the eCash (XEC) till it reaches a high price, and then you can sell it through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

Since XEC is the native token of the eCash platform, you can use it to send and receive value in a private and secure way to any corner of the world without involving any bank. You can also use XEC tokens to participate in the staking protocols of the network to earn staking rewards. If you become a trusted stakeholder of XEC tokens, you can even participate in the governance protocols of the network.

Why Use eCash (XEC)?

eCash (XEC) holds a legendary goal of simplifying sending money as much as sending an email. Its unique ensemble of avalanche consensus and Cashfusion protocol gives it the possibility to become the electronic cash usable for everyday goods and services. One standout feature is its streamlined unit structure, with only 2 decimal places in its base unit, making microtransactions more convenient. This simplification makes eCash an ideal choice for small-value transactions.

Furthermore, eCash empowers its users through staking protocols and network governance participation, rewarding loyal stakeholders and ensuring community involvement. It also supports the creation of customizable eTokens, offering a cost-effective and speedy way to design tradable assets.

eCash combines the strong tokenomics and token flow of its parent coin, Bitcoin, with innovative tech to compete with the emerging threats to user privacy and scalability issues. The developers of this coin aim to achieve a transaction throughput of more than 5 million transactions per second.

In summary, eCash (XEC) aspires to be the electronic cash of the future, combining the best elements of Bitcoin with cutting-edge technology to simplify transactions, enhance privacy, and provide scalability. It's not just a cryptocurrency; it's a visionary approach to revolutionizing digital payments.

FAQs

What is eCash (XEC)?

eCash (XEC) is the native token of the eCash ecosystem which facilitates peer-to-peer digital payments for everyday use. It is the hard fork of Bitcoin Cash (BCH), which itself is a popular fork of Bitcoin (BTC). Before July 2021, XEC was known as Bitcoin Cash ABC (BCHA). It has a maximum supply of 21 trillion.

What is the eCash (XEC) price in India?

Check out the current INR price of XEC crypto in India on Flitpay.

Which is the best crypto app in India to buy eCash (XEC)?

Flitpay is one of the top crypto exchanges in India to buy eCash (XEC), buy Bitcoin, buy USDT or your favourite cryptocurrencies. Flitpay supports instant UPI/bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

Why Choose Flitpay to Buy eCash (XEC) ?

Flitpay crypto exchange stands out as the most reliable and secure platform to buy eCash (XEC) crypto and other cryptocurrencies in India. Here's why:

• Swift and Secure: Flitpay's quick buy/sell feature allows investors to buy XEC swiftly within seconds. Flitpay has also implemented robust security measures, including 2FA at various stages, and integrated multi-party computation (MPC) technologies to protect customers' invaluable investments.
  
• 99.9%25 Uptime: The robust build and interface of Flitpay ensure 99.9%25 uptime, allowing you to access your XEC investments anytime without any hitches or glitches.
  
• Price Alerts: Flitpay's timely price notifications and alerts keep investors updated with price changes, allowing users to easily seize the right opportunity to buy or sell XEC even when offline.
  
• Instant Deposits and Withdrawals: Access your funds hassle-free through instant deposit and withdrawal services. With Flitpay, you can easily convert your XEC to INR or INR to XEC and withdraw your funds instantly.

How to buy eCash (XEC) in India?

You can easily buy eCash (XEC) in India on the safest crypto exchanges like Flitpay, with the lowest fees.

To buy eCash (XEC) crypto in India:

1. Register on Flitpay and create an account.

2. Verify your identity through Know-your-customer (KYC)

3. Add INR or Fiat currency, corresponding to the amount of XEC coins you want to buy.

4. Instantly buy XEC crypto with the deposited funds.

What are the benefits of the eCash (XEC)?

eCash (XEC) has the potential to become the preferable crypto for everyday transactions by simplifying the value transfer process. The Avalanche consensus smartly solves the major conflicts faced by existing PoS consensus, like scalability, delays, and sudden fee hikes. Moreover, the CashFusion protocol enhances the overall privacy of XEC transactions, making them hard to track. With competitive tokenomics and a commitment to decentralized distribution, eCash aims to streamline digital payments, making it an attractive choice for those seeking efficiency, privacy, and convenience in their financial transactions.

Is it safe to invest in eCash (XEC) in India?

There are no rules in India that make crypto trading illegal. Even the Reserve Bank of India has informed banks that they can not warn people trading in cryptocurrency. Hence, it can be said that it is safe to buy XEC in India.

Is eCash (XEC) a Good Investment?

eCash (XEC) shares a strong history and similar token dynamics with Bitcoin, the most dominating cryptocurrency. It also works towards incorporating new token technologies and use cases in its ecosystem, giving it an edge over other existing Bitcoin forks. However, like other cryptocurrencies, eCash (XEC), also is subjected to market risk and hence is a volatile investment. Thus, one must follow all necessary caution before investing in it.

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