eCash 101

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eCash is an open source project.

Anyone can contribute. Not just by writing code, but by providing value in any form. Anyone can mine the eCash network. No permission is needed. The code itself is free and available for all to review or use. Anyone can buy eCash, whether it’s through a centralized exchange, or peer-to-peer. Unlike most open source projects, however, eCash has a built in funding mechanism whereby 8% of the coinbase reward pays for development and infrastructure. The result is the best of both worlds. The code is available for free like other open source software projects, while the developers who work on improving the code have a mechanism to be paid like a closed source software project.

eCash is a decentralized cryptocurrency.

The goal of the eCash project is to become the new money of the world. Our entire lives we’ve thought of money as dollars, euros, or won. The goal of the eCash project is to build a world where we think of our money as bits. Money that isn’t run by any central authority or institution, but by anyone who wants to run a node. Money that is resilient, can’t be manipulated, while also being censorship resistant. eCash will be instant, easy to use, with fees that will always remain low, because the only way to protect against central bank digital currencies is by having a reliable alternative. In the past we could count on cash to circumvent the system. In the future, our cash will be electronic.

eCash is a continuation of Bitcoin.

The eCash project isn’t just another cryptocurrency project in the same way that Bitcoin isn’t just another cryptocurrency project. This is because eCash is a direct continuation of the work Satoshi started. XEC shares the same genesis block as BTC, the same halving schedule, as well as the same proof of work mining algorithm. This is why to understand eCash, you must first understand Bitcoin. Then you can begin to understand the changes eCash made to improve the technology. Changes like integrating Avalanche consensus with Nakamoto consensus to enable instant finality. The addition of a new coinbase rule to fund development and infrastructure. And of course raising the block size limit. While other forks chase layer two solutions for scaling, the eCash project looks to scale the base layer to reach 5M transactions per second, or enough for 50 transactions per day, for every human being on earth.

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