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eCash (XEC) Up 4% – eCash Avalanche Mainnet Launch in Play

eCash (XEC) Up 4% – eCash Avalanche Mainnet Launch in Play

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Despite the slowdown in the cryptocurrency market, eCash (XEC) has managed to gain nearly 4% to $0.00003974 thanks to fundamentals and top-notch privacy. However, the coin has lost about 6.59% in seven days. The eCash team’s recent release of the Bitcoin ABC 0.26.0 update, which included several minor bug fixes and additions, kept the coin supported. Additionally, the Avalanche Post-Consensus was released on the eCash Mainnet. The creator of eCash, Amaury Séchet, announced this at the Electronic Cash Conference in Prague.

The current eCash price is $0.000040 after opening the session at $0.0000316, with a high of $0.00004006 and a low of $0.00003802. In contrast, the 24-hour trading volume is $12,151,090. XEC/USD opened at $0.0000316. In a day, it reached a high of $0.00004006 and a low of $0.00003802.

In the last 24 hours, eCash has risen by 3.66%. CoinMarketCap is now ranked #56 with a live market cap of $761,396,031. It has a total supply of 21,000,000,000,000 XEC coins and a circulating supply of 19,177,929,673,303 XEC coins.

What is ECash?

ECash (XEC) is a rebranded version of Bitcoin Cash ABC (BCHA), which is a fork of both Bitcoin and Bitcoin Cash (BCH). The network describes itself as a cryptocurrency that can be used in the same way as electronic cash. ECash’s sole purpose is to act as a medium of exchange for making payments for goods and services. After the rebranding, ECash announced that it will exchange all BCHA coins for XEC at a 1:1 ratio.

The coin was rebranded in July 2021 and has been trying to differentiate itself from its predecessor ever since. Bits, the basic unit of ECash, replace the awkward decimals of Bitcoin Cash ABC. ECash uses the Avalanche proof-of-stake (PoS) consensus layer, not to be confused with the Avalanche blockchain (AVAX). The ECash team is trying to improve the payment experience by reducing the time it takes for a transaction to be finalized.

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XEC Coin is a long-term project that is promising due to the real use cases of the ECash initiative. ECash is involved in several projects as one of the expanding DeFi projects.

eCash Avalanche Mainnet starts

The early PoW public chain ECash used different approaches to solve the efficiency problem, but it succeeded. It has been researched and developed to ensure the security, stability and efficiency of a distributed network. Avalanche, the pioneering consensus method, is now available for the ECash protocol. It offers maximum security, fastest possible speed and dynamic functionality. Before mining into blocks, the avalanche network can now agree on individual events. By deciding which transactions to include in a block, Avalanche avoids double-spending and achieves a transaction almost instantly.

In addition, prior consensus allows the rules of the network policy to be constantly changed and smooths out mining for better scalability. The Avalanche algorithm is used by both AVAX and ECash. AVAX, on the other hand, only uses the avalanche algorithm. The Avalanche algorithm is combined in ECash with the core PoW of the Nakamoto consensus, which combines the safety and reliability of PoW with the efficiency and effectiveness of the Avalanche consensus.

Post-Consensus offers ECash 51% attack blocking and 1-block finality thanks to the newly launched Avalanche network. Node operators can now update Bitcoin ABC to 0.26.0, enabling Avalanche activation. This announcement will benefit ECash and XEC/USD will rise on the news.

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