Bitcoin Cash ABC (BCHA), a controversial fork of Bitcoin Cash renames itself “eCash (XEC)” and adopts the Proof-of-Stake (PoS) consensus. ECash will also reduce the number of decimal places from eight to two.
Bitcoin Cash ABC (BCHA), a distant fork of Bitcoin (BTC) and Bitcoin Cash (BCH), has changed its name to eCash (XEC). The token was renamed XEC on July 1 at 2 p.m. Thus, all BCHAs were converted to XEC at a ratio of 1 to 1 million.
ECash has adopted a reduced number of decimal places from eight to two, lead developer Amaury Sechet explained “no other fiat currency has eight decimal places.”
The relaunch of the project also includes the integration of an Avalanche Layer 2 solution (AVAX), which introduces staking and will increase the speed of transactions. In addition, Avalanche should bring a little more decentralized governance to the eCash protocol.
Chinese journalist Colin Wu noted that the project plans to support Ethereum Virtual Machine (EVM) in the future to interact with decentralized finance (DeFi) applications.
According to CoinMarketCap, Bitcoin Cash ABC ranks 218th with a total capitalization of $ 587 million.