eCash

Project Overview

eCash (XEC) is a cryptocurrency that emerged from a fork of Bitcoin Cash ABC in November 2020. It aims to serve as both a store of value and medium of exchange, with a focus on becoming a practical electronic cash system that can handle high transaction volumes.

Intended Utility

The project's stated purpose is to create a digital payment system that combines the best properties of physical cash with the benefits of digital assets. Key features include Avalanche post-consensus for faster transaction finality, adaptive blocksize for scalability, and plans for privacy features.

Actual Utility Assessment

The network currently processes transactions and maintains its original vision, though adoption remains limited compared to major cryptocurrencies. Development activity is consistent, with regular updates to the protocol and infrastructure.

Token Distribution and Governance

The token distribution includes a notable aspect where 8% of newly mined coins go to fund development through the Global Network Council (GNC). While this could raise some concerns about centralization, it follows a transparent governance model with clear allocation rules.

Technology and Revenue Model

The primary revenue model relies on proof-of-work mining, which is permissible under Islamic finance principles as it involves actual work and risk-sharing. The project does not incorporate interest-bearing mechanisms in its core protocol.

Development vs Marketing

The project maintains a balanced approach between development and marketing efforts, with significant resources devoted to technical improvements and protocol upgrades. The development team regularly publishes updates and technical documentation.