eCash (XEC)
Rank #145
Market snapshot
- Price
- $0.000006939
- Market cap
- $139.3M
- 24h volume
- $6.3M
- Circulating supply
- 20,071,970,297,580
- Total supply
- 20,071,970,297,580
- Max supply
- 21,000,000,000,000
What is eCash?
eCash is a cryptocurrency that aims to serve as electronic cash. It enables instant payments to anyone, anywhere in the world. Users can acquire eCash by purchasing it on a cryptocurrency exchange and transferring it to their wallet. The project is driven by the belief that cryptocurrency can significantly enhance human flourishing, freedom, and prosperity.
How eCash works
eCash operates on a peer-to-peer network, utilizing the Bitcoin Proof-of-Work consensus as its foundation. It integrates the Avalanche consensus algorithm, which allows for instant transaction finality and improved flexibility. Transactions are made irreversible before being included in a block, reducing settlement time significantly. The network also employs staking rewards to incentivize node operation, enhancing security and performance.
Key information
- Symbol
- XEC
- CMC rank
- #145
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Jul 8, 2021
Key characteristics
eCash is categorized as a Layer 1 blockchain, which means it operates directly on its own network without relying on another blockchain. The protocol is open-source, allowing anyone to participate in its development. Additionally, eCash features a high-speed indexer called Chronik, which provides developers with easy access to network features.
Documented uses
eCash can be used to pay for goods and services, facilitating everyday transactions in a digital format.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is eCash?
- eCash (XEC) is a cryptocurrency designed to function as electronic cash, enabling users to make instant payments globally.
- How does eCash work?
- eCash operates on a peer-to-peer network using the Bitcoin Proof-of-Work consensus and integrates the Avalanche consensus algorithm for instant transaction finality.
- What are the key features of eCash?
- eCash is categorized as a Layer 1 blockchain, operates on an open-source protocol, and includes a high-speed indexer called Chronik for easy access to network features.
- What are the risks associated with using eCash?
- Digital asset prices can be volatile. Users must handle private keys and verify transaction details to avoid risks.
- How can I acquire eCash?
- You can acquire eCash by purchasing it on a cryptocurrency exchange and transferring it to your wallet.
- Where can I find official resources for eCash?
- Official resources for eCash can be found on their website at https://e.cash/.
