eCash (XEC) operates as a Layer-1 digital currency network, crafted by Bitcoin ABC. Launched on November 15, 2020, it has carved out a distinct identity from earlier iterations and other Bitcoin variants by adopting the innovative Avalanche consensus alongside its foundational proof-of-work (PoW) framework. This unique blend enhances its security and core functionalities significantly.
The combination of Nakamoto and Avalanche consensus mechanisms bestows eCash with remarkable attributes typical of Bitcoin-like chains, including rapid transaction finality, incentives for staking, scalability through subnets, and adaptable governance protocols. The development strategy is focused on three pivotal objectives:
1. Increasing transaction throughput from approximately 100 transactions per second (tps) to over 5,000,000 tps.
2. Enhancing the payment experience with a target transaction finality of under three seconds.
3. Expanding the protocol to facilitate fork-free upgrades, which will enable more agile and continuous development.
These goals position eCash as a progressive solution in the evolving landscape of digital currencies.