XEC Coin

XEC coin is a virtual coin renamed by BCHA and is the result of a hard fork update. Including different system settings in the blockchain, the reason for doing the hard fork is to modify the operation of the currency more effectively. This makes the coin widely suitable for various tasks on the blockchain and verifying transactions that have occurred.

History of XEC Coin

Before becoming XEC in 2017, the Bitcoin Cash (BCHA) token was created to make Bitcoin a real use case. By dividing the value into smaller parts for transfer and settlement across various platforms, there have been many believers of this coin who have argued that BCHA should be more popular than Bitcoin due to the faster network speeds.

However, BCHA was not as expected. The rule of BCHA is to reward BCHA miners, that is, BCHA coins, every 4 years, and the reward is halved. This is an inflation control that reduces the value of the coins. Also increases the value of the coin In the real world, the value of the coin does not increase as expected. This makes mining more expensive than the profits earned. As a result, miners run away to use other coins.

The original BCHA operating system was Proook-of-Work. This means that miners act as transaction validators. When mining, miners verify transactions and approve new blocks on the network to reduce the success rate of transactions. As a result, network transaction monitoring slows down and BCHA loses its selling point. Hot for developers who have to find a solution.

However, the format developers have chosen to use has become to use Delta Blocks or Storm to confirm weak proof-of-work (PoW) transactions or to confirm transactions immediately after they are transferred. Instead of wasting time looking at the list causing security risks, such as being hacked.

BCHA’s popularity briefly declined due to many questions about how the coin was developed using Delta Blocks. and forced developers to overhaul the software through several hard forks. It wasn’t until 2020 that the BCHA coin was finally renamed to eCash or XEC.

Future of XEC Coin

Over the course of 2022, the value of XEC coins fell by 81.64%, and watching such a decline in value can be daunting. But don’t overlook the investment opportunities in XEC. Because during 2022, in addition to improving the system and proof of stake, there are other movements supporting the future of the XEC coin.

In August 2022, cryptocurrency exchanges Bithumb and Bitfinex completed the rebranding of eCash and allowed trading to continue. The currency value rose towards the end of August. By comparison, September's increase exceeded August's. As a result, on September 3, 2022, Binance listed XEC paired with USDT. As a result, on September 4, daily volume increased approximately 1,200x from the July low. and continued to trade throughout September, with increases exceeding those in August. This suggests that XEC’s value is slowly recovering as the cryptocurrency market recovers.

However, as the cryptocurrency market is still in a bearish trend and has yet to establish a clear upward trend, it is difficult to clearly identify eCash Coin as a suitable coin for investment in the future. Many analysis firms try to make predictions using indicators such as RSI or DCMA, as well as trend lines. Some market analysts say investing in XEC may not be a good option. However, many big players prefer this approach. XEC said that if the project’s electronic trading implementation is successful, it could further increase its value. Therefore, XEC currency is suitable to pay attention to and wait for opportunities. Traders don’t have to rush to own this coin just because the market is stalled. Delaying decisions on coins whose futures are uncertain is a strategy that can help better limit portfolio risk.