You might hear of eCash and you do not know what is it. This article explores eCash(XEC) and investing in eCash. So what is eCash (XEC) and should I invest in eCash (XEC)? In this era consumers and businesses turn to online shopping and even digital transactions that include multiple currencies, and payment methods must evolve to facilitate these new preferences. The eCash has emerged as one of the financial solutions.
What is eCash (XEC)?
The eCash (XEC) is led by self-styled “financial freedom fighter and benevolent dictator” Amaury Sechet, who also led the launch of Bitcoin Cash before falling off the radar between 2018 and 2020. The Bitcoin Cash blockchain split into two chains on November 15, 2020. One of the chains is called BCHA, which was renamed eCash on July 1, 2021. It has the same total supply as Bitcoin, which is 20 million. The entire project is based on Milton Friedman's monetary philosophy.
The eCash(XEC) cryptocurrency was renamed from Bitcoin Cash ABC, which was developed and maintained by the Bitcoin ABC project. Bitcoin ABC is a fork of the Bitcoin Cash blockchain. Bitcoin Cash is a fork of Bitcoin.
The white paper states: “eCash is a natural continuation of the Bitcoin Cash project. eCash fulfills the vision of the legendary Milton Friedman, delivering on key promises such as the innovative Avalanche consensus layer, while also introducing concepts never before seen in the Bitcoin project, Such as staking, fork-free network upgrades, and subchains.”
The document goes on to say: "XEC has been issued about 90%, and the development team holds only a small percentage relative to the total supply. This means that the new supply of XEC entering the market will continue to be very limited. According to the authors of the white paper, this will limit future inflation.
Should I invest in eCash (XEC)?
XEC is currently gathering as it prepares to launch the mainnet of Avalanche, the consensus layer for crypto payment methods. However, it has been in a long-term bearish trend since hitting an all-time high in November. Whether you should invest in eCash is a question you must answer for yourself. However, before you do this, you need to do your own research and never invest more than you can afford to lose, as prices can go down as well as up.
eCash is a peer-to-peer digital currency launched in July 2021 from a hard fork of Bitcoin Cash ABC. Its price action has been bearish since hitting an all-time high in November 2021. In the volatile cryptocurrency market, it is important to do your own research on a coin or token to determine if it is a good fit for your portfolio.
Conclusion
From this article, you will have knowledge about what is eCash (XEC) and whether you should invest or not. Whether XEC Tokens are suitable for your investment depends on factors such as your risk tolerance and how much you intend to invest. Remember, past performance does not guarantee future returns. Never invest money you can't afford to lose.
