The new PoS-based eCash blockchain network allows users to wager their coins with rewards of up to 400% APY. In addition, unlike Ethereum, the new eCash blockchain will be a blockchain with low inflation and a low transaction fee.
Bitcoin Cash ABC (BCHA) has changed its name to a new name called eCash. The official announcement came on Thursday, July 1st, when the developers launched a rebranding campaign with a new project – eCash.
In addition, the token semantics will also change from BCHA to XEC. Also, the conversion from BCHA to XEC will be at a one-to-one million ratio. Regarding this development, lead developer Amaury Sechet said that eCash will reduce its decimal places from eight to two. To explain this step, Sechet further added:
“No other money has eight decimal places. Why should crypto? Cryptocurrencies with a lower unit price also enjoy higher bull market appreciation. Since the eCash team is motivated by both technology and price improvements, this improvement was a breeze. “
The renewed website indicates that eCash will be a natural continuation of Bitcoin Cash ABC. Lead developer Amaury Sachet has worked over the past year to bring this project to life.
Bitcoin Cash ABC with its eCash rebranding: Introduction of Consensus Layer Avalance
The relaunch of Bitcoin Cash ABC also introduces a new Proof-of-Stake (PoS) consensus layer Avalance, which makes transactions absolutely secure and instant. The announcement states that the new consensus algorithm will reduce the transaction confirmation time to under 1 second.
Avalance aims to bring technically sound and politically decentralized governance to the eCash platform. Sechet stated:
“ECash opens the door to previously unattainable opportunities by combining the core technology behind Bitcoin’s success – the same firm offer, halving plan, and Genesis block – with the latest proof of stake consensus and protocol governance. “
The avalanche consensus model also brings favorable staking conditions to its users. Also, eCash categorizes itself as a Bitcoin-based, low-inflation cryptocurrency that, unlike Ethereum, offers staking rewards without high transaction fees.
In addition to building projects on the eCash blockchain, the low network fee also allows developers to create and trade new coins. The eCash developers have recommended users to update their eCash wallets.
Users can buy eCash crypto for USDT at Coinex.com and earn staking rewards with a massive 400% APY. The announcement indicates that eCash staking will play a role in securing the network. It also enables users to use eCash for native on-chain rewards.
The Binance crypto exchange has expanded its support to include the BCHA’s rebranding campaign. Chinese journalist Colin Wu commented on this development: “Bitcoin ABC has officially changed its name to eCash and has received Binance support for its upgrade. It is planned to roll out the avalanche protocol in the summer and join the EVM to enter the DeFi ecosystem.
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Bhushan is a FinTech enthusiast and has a keen understanding of the financial markets. His interest in business and finance draws his attention to the emerging blockchain technology and cryptocurrency markets. He is constantly in a learning process and motivates himself by sharing the knowledge he has acquired. In his spare time he reads crime novels and sometimes explores his cooking skills.
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