eCash (XEC) is a cryptocurrency that rebranded from Bitcoin Cash ABC (BCHA) to function as a peer-to-peer electronic cash system for the internet. The project employs a hybrid consensus model that combines Proof-of-Work with the Avalanche consensus protocol to facilitate scalable global payments with near-instant transaction finality. ^{[1] [2]}

Overview

eCash is a fork of Bitcoin (BTC) and Bitcoin Cash (BCH), led by developer Amaury Séchet, who was also a lead developer for Bitcoin Cash. The project officially rebranded from Bitcoin Cash ABC to eCash on July 1, 2021, with the core mission of creating a globally usable, scalable form of digital money that functions as a reliable means of exchange. Upon rebranding, the currency was re-denominated to a base unit called "bits," equivalent to 100 satoshis, to simplify the user experience by avoiding small decimal fractions in transactions. ^[2]

The project's philosophy is rooted in fulfilling what its developers consider the original vision of Bitcoin as a "censorship-resistant global payment network." The eCash team states that projects like Bitcoin were hindered by a lack of sustainable funding and governance models, leading to external influence from venture-backed entities that shifted its focus away from peer-to-peer cash. To avoid this, eCash implemented the Infrastructure Funding Policy (IFP), an on-chain mechanism to fund protocol development and ecosystem growth, ensuring its ability to operate and evolve independently. ^[3]

A key technical goal of eCash is to scale transaction throughput from around 100 transactions per second to over 5 million transactions per second. The technical roadmap focuses on achieving this through a hybrid consensus architecture, extending the protocol with features like tokenization and EVM compatibility, and enforcing a politically decentralized governance model funded by the protocol itself. A significant milestone was the full activation of its Avalanche consensus layer in November 2025, which enabled transaction finality in under three seconds. ^{[1] [2]}

Architecture

eCash utilizes a hybrid consensus mechanism called Avalanche-enhanced Proof-of-Work (APoW), which combines a traditional Proof-of-Work (PoW) security layer with a Proof-of-Stake (PoS) consensus and finality layer based on the Avalanche protocol. This implementation of Avalanche was developed by the Bitcoin ABC team for eCash and is a distinct project, not related to the Avalanche (AVAX) blockchain. ^[4]

Proof-of-Work (PoW) Layer

The base layer of the eCash blockchain relies on Nakamoto Consensus (PoW), where miners compete to solve cryptographic puzzles to produce new blocks. This provides the network's fundamental security, immutability, and a publicly verifiable ledger. The PoW layer ensures that the network remains trustless and decentralized, allowing any new node to join and synchronize with the blockchain's history without relying on trusted third parties. ^[4]

Avalanche Overlay Network

Running on top of the PoW layer is the Avalanche protocol, which acts as a high-speed coordination and finality layer. In this system, staking XEC is used as a Sybil resistance mechanism to grant participation rights in the Avalanche consensus process, not for block validation. Nodes in the Avalanche network use repeated, randomized polling to quickly reach a supermajority consensus on the validity and finality of transactions and blocks. The integration was implemented in two main phases. ^[4]

Avalanche Post-Consensus

Launched on September 14, 2022, Post-Consensus was the first phase of the Avalanche integration. After a PoW miner finds and broadcasts a new block, the network of Avalanche nodes conducts a polling round to agree on the block. This process locks in the block as the canonical tip of the chain, providing one-block finality and protecting the network against blockchain reorganizations and 51% attacks. This feature makes it significantly more difficult for an attacker to reverse transactions, as it would require controlling both a majority of the network's hash rate and a supermajority of the total staked XEC. ^{[1] [4]}

Avalanche Pre-Consensus

Launched on November 15, 2025, at block height 923,347, Pre-Consensus is the final phase of the Avalanche integration. This feature allows the network of nodes to reach consensus on the validity and order of transactions before they are included in a mined block. This real-time consensus layer enables transactions to be confirmed as final and irreversible in under three seconds, eliminating the need for users to wait for multiple block confirmations for settlement security. ^[1]

Other Architectural Components

• Chronik Indexer: Announced in April 2024, Chronik is a high-performance, custom-built blockchain indexer written in Rust and integrated directly into the Bitcoin ABC full node software. It functions as a specialized search engine for the eCash blockchain, providing fast and reliable access to transaction history, token data, and real-time notifications via WebSockets. The project was funded by the Global Network Council in April 2022 and serves as the backend for wallets like Cashtab and the official block explorer. ^{[5] [2]}
• AssumeUTXO: Introduced in May 2025, this feature allows new nodes to synchronize with the network much more quickly. Instead of processing the entire blockchain history from the first block, a new node can start from a recent, trusted "snapshot" of the Unspent Transaction Output (UTXO) set, significantly reducing initial setup time. ^[2]
• Heartbeat Upgrade: Implemented in November 2024, this upgrade introduced an improved difficulty adjustment algorithm for mining. The feature was designed to provide a more stable block time and consistent network performance. ^{[2] [4]}

Features

eCash incorporates several features designed to enhance its usability, security, and functionality as a digital cash system.

• Instant Transaction Finality: By leveraging Avalanche Pre-Consensus, eCash transactions are finalized and considered irreversible in under three seconds. This is a critical feature for point-of-sale payments, exchange deposits, and other time-sensitive applications where settlement risk must be minimized. ^[6]
• Staking Rewards: eCash was the first Bitcoin-based project to offer native staking rewards. Users who stake a minimum of 100 million XEC and run an Avalanche node can participate in the consensus layer, contribute to network security, and earn a share of the block reward. The staking is non-custodial, meaning funds are not locked and there is no risk of slashing. ^[4]
• eTokens: The eCash network supports the creation of custom fungible and non-fungible tokens. This feature, detailed in December 2024, allows any user to issue their own tokens on the eCash blockchain for purposes such as stablecoins, project-specific tokens, or digital collectibles. These tokens benefit from the same transaction speed and finality as native XEC. ^{[2] [6]}
• Enhanced Security: The combination of PoW and Avalanche Post-Consensus provides a robust security model. Post-Consensus finalizes blocks as soon as they are mined, preventing chain reorganizations and making 51% attacks substantially more difficult and expensive to execute. ^[4]
• CashFusion: eCash supports CashFusion, an opt-in privacy protocol inherited from its Bitcoin Cash heritage. A guide published in March 2024 details how users can utilize the protocol to merge their transactions with those of other users, which helps to obscure the transaction graph and enhance on-chain privacy. ^[2]
• eCash Aliases: A human-readable address system was under development, with a preview provided in June 2023. This feature aims to replace long, complex cryptocurrency addresses with simple, memorable names to improve user experience and reduce the risk of errors when sending funds. ^[2]

These features are central to the project's goal of creating a highly functional electronic cash system. ^{[4] [2]}

Products and Ecosystem

The eCash ecosystem is supported by a growing suite of tools, platforms, and applications for both end-users and developers. The Global Network Council (GNC) has provided funding for key ecosystem projects. ^[2]

• Cashtab: The primary web wallet for eCash, providing a user-friendly interface for sending, receiving, and managing XEC and eTokens. In April 2024, Cashtab introduced support for NFT collections and minting, powered by the Chronik indexer. ^{[5] [2]}
• PayButton: A simple, embeddable payment button that allows merchants and content creators to easily accept eCash payments on their websites. The project was officially launched in September 2023 after receiving GNC funding in May 2022. A WordPress plugin for PayButton was released in May 2025. ^[2]
• Chronik: While an architectural component, Chronik is also a product for developers, providing the necessary backend infrastructure for building applications on eCash. It is used by the official block explorer and various community-developed tools. ^[5]
• Agora: Described as a "Token Bazaar" in an October 2024 blog post, Agora is a marketplace designed for trading eTokens created on the eCash network. ^[2]
• eCash Block Explorer: The primary tool for viewing and searching for transactions, blocks, and addresses on the eCash network. It is available at explorer.e.cash and is powered by the Chronik indexer. ^[2]
• Other Tools: The ecosystem also includes tools such as Firma (firma.cash) for on-chain signatures and XECX (stakedxec.com) a service related to XEC staking. ^[4]

Use Cases

The technical features of eCash, particularly instant finality and low transaction fees, enable a wide range of use cases at the base layer.

• Peer-to-Peer Electronic Cash: The primary use case is to serve as a medium of exchange for everyday online payments and commerce, from microtransactions to larger payments. ^[1]
• Real-Time Commerce: Instant finality allows for payment experiences comparable to traditional credit cards in both online and physical retail environments, eliminating long wait times for confirmations. ^[6]
• Microtransactions and Streaming Payments: The network's efficiency makes it economically viable to process extremely small payments in real-time. This supports business models such as pay-per-second media streaming, API usage fees, or automated payments for IoT devices. ^[6]
• Cryptocurrency Exchange Integration: Instant finality allows exchanges like Binance, Upbit, and HTX to credit user deposits almost immediately, as they no longer need to wait for multiple block confirmations to mitigate double-spend risk. ^[1]
• Tokenization and DeFi: The eTokens protocol supports the creation of fungible and non-fungible tokens for applications like stablecoins, decentralized exchanges, and other financial services. The network's speed enables trustless atomic swaps and other immediate settlement applications. ^[6]
• Gaming and Digital Assets: The protocol can be used for in-game economies where assets, rewards, and items can be instantly and irrevocably traded between players. ^[1]
• Machine-to-Machine (M2M) Economy: The network provides a reliable settlement layer for autonomous devices in the Internet of Things (IoT) to transact with each other for services like data, energy, or logistics without human intervention. ^[6]

Tokenomics

The native currency of the eCash network is XEC. Its tokenomics are structured to support the network's security, development, and governance.

Token Details

• Ticker: XEC
• Total Supply: The total supply of XEC is fixed at 21 trillion. This mirrors Bitcoin's 21 million coin supply but is re-denominated by a factor of one million (from 8 decimal places to 2), a change made to improve usability. ^[2]

Utility and Allocation

The primary utilities for the XEC token include payments, staking, and paying for network fees. The distribution of new XEC from the block reward is governed by the Infrastructure Funding Policy. ^[3]

• Payments: XEC is the native currency for all peer-to-peer transactions on the network.
• Staking: XEC is staked to operate an Avalanche node, participate in network consensus and governance, and earn staking rewards.
• Gas Fees: XEC is used to pay for transaction fees on the network, including for the creation and transfer of eTokens.

As of August 2025, the block reward was allocated as follows:

• Miners (Proof-of-Work): 58%
• Protocol Development (Bitcoin ABC): 16%
• Ecosystem Development (Global Network Council): 16%
• Avalanche Staking Rewards: 10%

This allocation model is designed to provide direct, on-chain funding for all critical aspects of the network. ^[3]

Governance

eCash's governance and funding are managed through its on-chain Infrastructure Funding Policy (IFP) and the Global Network Council (GNC). ^[3]

The IFP is a protocol rule that automatically allocates a percentage of each block reward (32% as of August 2025) to a development fund. This provides a sustainable and predictable source of funding for network infrastructure, software development, and ecosystem growth. The parameters of the IFP, including the allocation percentages and beneficiaries, are not hardcoded. Instead, they can be modified through a formal on-chain voting process conducted by participants in the Avalanche staking layer. This allows for agile governance and network upgrades without contentious chain splits. ^{[4] [3]}

The Global Network Council (GNC) is the governing body responsible for allocating the "Ecosystem Development" portion of the IFP funds. The GNC has funded numerous key infrastructure and research projects, including the Chronik Indexer (April 2022), the PayButton project (May 2022), Block Explorer 2.0 developed by RaiPay (January 2022), and a research study on P2P cash usage in Ciudad Morazán (December 2022). ^[2]

Confirmed Partnerships and Integrations

eCash has established several partnerships and integrations to expand its ecosystem and adoption.

• Government of the Northern Mariana Islands: In May 2025, a bill was passed in the Northern Mariana Islands to recognize a stablecoin, mUSD, built on the eCash blockchain. This represents a collaboration with a government entity for real-world adoption. ^[6]
• NOWNodes: A partnership was announced on September 2, 2025, to provide an alternative way for users and services to access the eCash blockchain and verify transactions. ^[2]
• RaiPay: The GNC approved funding for the RaiPay team in January 2022 to develop Block Explorer 2.0. The team, led by Chonik's creator Tobias Ruck, also collaborated directly with Bitcoin ABC on the full integration of the Chronik indexer, marking a significant development partnership. ^{[5] [2]}
• RocketX: An official partnership with the cross-chain decentralized exchange and liquidity aggregator was announced on January 3, 2022. ^[2]
• Crypto.com: An integration from December 2021 allows the eCash project to share news and updates directly on the Crypto.com XEC price page. ^[2]
• Hardware Wallets: eCash has documented official support and integration with several hardware wallets, including Trezor, D'CENT, and Satochip. ^[2]