• eCash (XEC) is currently trading at $0.00003694 in the last 24 hours, after breaking above the $0.00002 price level on January 23, 2023.
• The network recently announced Avalanche Pre-Consensus, which will reduce transaction confirmation time from 10 minutes to just a few seconds and validate each transaction before adding it to a block.
• The network also operates on the Avalanche Post-Consensus upgrade to provide 51% attack prevention on the eCash network.
What is eCash?
eCash is a cryptocurrency created to bring Decentralized Finance (DeFi) solutions to crypto users and support Ethereum Virtual Machine (EVM) compatibility. The goal of the network is to scale up transaction speed while reducing costs.
Recent Price Gains
The asset’s price finally broke above the $0.00002 price level on January 23, 2023, at $0.00003028. During the last 30 days, its 30-day high was at $0.00004428 and its 30-day low was at $0.00003424 with progress in February 2023 being recorded despite current market slump for the asset today trading at $0.00003694 in the last 24 hours.
Avalanche Pre-Consensus Upgrade
The recent price gains are due to different factors on the eCash network and one of them being Avalanche Pre-Consensus which was announced on January 30, 2023 and offers almost instant transaction finalization where transactions are irreversible once finalized.. This upgrade will reduce confirmation time of a transaction from 10 minutes to just a few seconds making it faster than Proof-of-Work reliant crypto like bitcoin due to validating each transaction before adding it to a block..
Avalanche Post-Consensus Upgrade
The Avalanche Post-Consensus upgrade provides 51% attack prevention on the eCash network by individual nodes forming consensus to finalize blocks on the network.. If random or late blocks appear on the network in an attack, miners agree to ignore these blocks thus protecting networks using SHA256 algorithm shared with Bitcoin (BTC.).
eCash has been recording progress over time with updates such as Avalanche Pre & Post Consensuses that offer features such as near instant transaction finalization with confidence that finalized transactions cannot be reversed and 51% attack prevention respectively,. These upgrades have helped make eCahs faster than other proof of work reliant cryptos such as Bitcoin (BTC).