The Bitcoin ABC hard fork development team announced the launch of a campaign related to the rebranding of the project. The official website already has a new name eCash, and the token's ticker has been changed from BCHA to XEC.
The creators of the cryptocurrency promised to use the Avalanche consensus algorithm and implement those concepts that have not previously been encountered in BTC-based projects. We are talking about both updating the network in the fork-free format and subchains. In addition, the project developers announced a change in the number of decimal places from 8 to 2, which will make the cryptocurrency close to fiat in terms of ease of use and ease of counting for its holders. Not to mention a significant reduction in on-chain fees. The developer of Bitcoin ABC said that he does not understand why cryptocurrencies, in principle, need eight decimal places.
According to Chinese journalist Colin Wu, eCash will also support the Ethereum Virtual Machine, enabling direct interaction with ETH-based DeFi applications.
Among the features of the eCash project, it is worth highlighting:
- Low transaction fees
- Security of user transactions
- Supporting infrastructure as a "good funded by a social token contract"
After the update took effect, BCHA holders were credited with XEC at a ratio of 1: 1,000,000 tokens.
According to CoinMarketCap, Bitcoin ABC is in 217th place, its average value on exchanges is $29.06, and its total capitalization is $539.8 million.
Very soon, the crypto community will be able to assess whether the rebranding of the token affected its performance, changing them for the better.
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