eCash price

XEC

#83

The eCash (XEC) network is the only network that has integrated the Avalanche protocol with its core Nakamoto consensus, which also differentiates itself from the usual PoW/PoS Masternode solutions. Avalanche can come to consensus within 2 seconds as opposed to Nakamoto’s characteristic 10-minute block times, enabling nodes to communicate in real-time to make decisions in a more granular fashion. The network retains the trustless and decentralized nature of Bitcoin’s PoW consensus while gaining more flexibility, security, and speed through the Avalanche protocol.

Another advantage of eCash’s Avalanche integration is its permissionless subnet capability. Subnets with arbitrary protocol changes can be created while staying pegged to the main chain. The development team plans to create an Ethereum Virtual Machine (EVM)-subnet to be interoperable with the decentralized finance (DeFi) sector as well as a Zero-Knowledge (ZK)-subnet for an additional layer of privacy.

For the project to become successful, eCash’s developers intend to fulfill five core missions:

• Ensuring anonymous transactions
• Ensuring the immutability of transactions
• Guaranteeing that transactions remain almost free
• Enforcing globally secure transactions with a finality of fewer than three seconds
• Designing the coin’s infrastructure as a public good, funded via its social contract

To achieve this, the developers of eCash have laid out an ambitious roadmap, with plans to have:

• Canonical transaction ordering to enable scalable block processing
• Schnorr Signatures to enable batched signature validation
• Faster block propagation through graphene or other
• UTXO commitment with blockchain pruning and faster initial sync
• Merklix-Meta Tree to enable scalable block processing
• Adaptive block sizes to support market-driven growth to 1TB blocks

These highly ambitious solutions would propel eCash to 50 transactions per user per day for up to 10 billion users.

In contrast to solely relying on a proof-of-work (PoW) consensus mechanism, the developers of eCash added an optional Avalanche protocol, leveraging the benefits of both in a hybrid interplay. The Avalanche part of the integration uses stake-proofs for Sybil resistance and can be considered proof-of-stake (PoS). However, it is distinct from other PoS protocols in that it’s not used for generating blocks or validating transactions, but rather for additional polling to prevent 51% attacks on transactions and blocks already validated by eCash’s PoW consensus.

The current integration is termed “Avalanche Post-Consensus”, securely finalizing each block and allowing for better coordination between nodes that enable unique features such as real-time difficulty adjustment. The upcoming “Avalanche Pre-Consensus” upgrade will mark the second and last stage of the integration, enabling transaction finality in less than 2 seconds. This allows for near-instant settlement of payments or deposits, regardless of block confirmations, as transactions finalized by Avalanche cannot be double-spent.

XEC is not an ERC-20 token and is not related to the Avalanche Blockchain (AVAX), it is its own blockchain similar to Bitcoin (BTC).

Check out Ripple (XRP) — a payment-oriented cryptocurrency

Check out Stellar (XLM) — another cryptocurrency focused on payments

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