eCash (XEC) is a cryptocurrency based on the Bitcoin Cash ABC network. eCash was also named Bitcoin Cash ABC (BCHA), but its value was redenominated to 1:100000 and was rebranded as eCash in July 2021. The history of Ecash and the Bitcoin Cash ABC network is somewhat controversial as their teams split due to disagreements among the technicalities of the block size or the size cap of 1 MB. They finally split when the two teams could not find an agreement on the method of payment.
After the rebranding of eCash, experts say that the network made efforts to add the Proof-of-Stake consensus protocol, which helps speed up the transactions. Experts also suggested that eCash (XEC) focuses on EVM compatibility, which may mean plans for interoperability with Ethereum-based projects. ECash began as a weak cryptocurrency and started trading at $0.00002 in July 2020. It was only in August that its value started increasing and reached $0.00008. On September 4, the XEC’s value increased significantly and reached its record value of $0.0004. It has not exceeded its record value as of now and has been trading in the region of $0.0002–$0.0003 zone, which is a very good potential price for a coin as young as Ecash. Therefore, the projections can be interesting yet contradictory for Ecash.
From the price projections, it is clear that eCash (XEC) projections are not linear and can be unpredictable. Therefore, we cannot say for sure that its value will keep increasing or decreasing over the next years. However, since it’s a new currency, investors will always remain vigilant to test its potential. The future growth depends on how eCash adopts the latest technology. In-depth research is a must before deciding to invest.
Why did the two currencies split?
Bitcoin Cash ABC decided to part ways after the core developer group wanted to impose a “miner tax” of 8% on each purchase. A newly mined coin normally is given to the successful miner as a block reward and is sent to the address belonging to the developers. The two teams disagreed on this method of reward system.