Bitcoin Cash ABC introduced that it has modified its title to “eCash” and has transformed its cryptocurrency BCHA to XEC. In addition, the undertaking additionally launched the Proof-of-Stake (PoS) consensus algorithm.
Recently, Bitcoin Cash ABC (BCH) introduced that the undertaking has formally separated from each Bitcoin (BTC) and Bitcoin Cash (BCH). The undertaking additionally modified its title to eCash (XEC).
The undertaking was additionally relaunched with the Proof of Stake (PoS) consensus algorithm, launched a staking mechanism and elevated transaction pace. Additionally, eCash additionally claimed to scale back the variety of decimal locations from eight to only two.
Along with the replace, all customers’ BCHA tokens will likely be transformed to XEC at a price of 1: 1000000, which means that for each BCHA person they personal, they are going to obtain 1 million XEC.
The eCash improvement group shared that they plan to assist compatibility with the Ethereum Virtual Machine (EVM). This predicts that eCash can additional work together with the rising DeFi business on the Ethereum blockchain platform.
In truth, earlier than that, Bitcoin Cash ABC had a troublesome time after a small chain grew to become identified after the Bitcoin Cash Hard Fork in November 2020.
Most of the Bitcoin Cash group didn’t settle for the concept of Amaury Sechet, the lead developer of Bitcoin Cash, to redistribute 8% of the newly mined funds to a pockets below his management to lift funds for improvement. This was lastly applied on Bitcoin ABC (now the eCash) in November 2020.
According to information from CoinMarketCap, Bitcoin Cash (BCH) is at the moment the twelfth largest cryptocurrency available on the market with a market cap of $ 9.29 billion. Meanwhile, Bitcoin Cash ABC (BCHA – now XEC) is simply ranked 217 with a market cap of $ 581.2 million.
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