Bitcoin Cash ABC (BCHA) has rebranded to ECash (XEC). There are a number of interesting facts about this crypto asset.
What is Bitcoin Cash ABC (BCHA)?
Bitcoin Cash ABC is a blockchain and cryptocurrency created on November 15, 2020, as a result of a hard fork in the Bitcoin Cash (BCH) blockchain. The developers in China are the inventors.
The BCHA split the original chain into two new chains tentatively called Bitcoin Cash ABC.
Bitcoin Cash ABC is based on the Bitcoin Cash protocol, which is a derivative of the original Bitcoin (BTC) protocol. It focuses on providing global cryptocurrencies that are fast, highly scalable, in a way that is sustainable over the long term.
Difference between Bitcoin Cash ABC and Bitcoin (BTC)
Actually, Bitcoin Cash ABC has a newer technology compared to Bitcoin BTC. If likened, Bitcoin Cash ABC is Microsoft Word which cannot open word files to the old version.
As an offshoot of Bitcoin Cash, Bitcoin Cash ABC retains many of the same characteristics. Its main goal is to create money that “everyone in the world can use.”
It uses the larger block size of Bitcoin as a way to increase transaction times and scalability.
Why Bitcoin Cash ABC Rebranding to Echash (XEC)?
Bitcoin developer ABC announced the start of a rebranding campaign to coincide with the launch of the new Cash project aimed at redefining digital money.
The ABC Bitcoin project has officially changed its name to eCash. The token will also be renamed from BCHA to XEC on July 1, 2021.
The relaunch will include a series of important improvements including Avalanche a revolutionary consensus algorithm. This reduces the transaction confirmation time to less than 1 second while making transactions completely secure and instantaneous.
So, this launch, also simultaneously improves the network and efficiency of BCHA.
As stated in the updated website, eCash is a natural continuation of the Bitcoin Cash project, led by Amaury Sechet, a former Facebook engineer and Bitcoin pioneer.
All BCHA coins stored in the user’s account will be converted to XEC coins at an exchange rate of 1:1,000,000. The holders don’t have to do anything.
How is BCHA at Indodax?
You don’t have to worry about seeing the missing BCHA’s on July 1, 2021. Because BCHA will reappear on July 2, 2021 at 17.00 WIB.
Indodax became one of the exchanges that supported the rebranding. You don’t need to be afraid that your BCHA will be lost. Because Indodax is the safest place for crypto asset transactions in Indonesia.
