eCash Price Prediction: Can Bitcoin Cash ABC Cryptocurrency Price Soar after Rebranding into eCash?

ECash (XEC) is a cryptocurrency on the Bitcoin Cash ABC network — a result of a hard fork of Bitcoin Cash that occurred in 2020. The coin was initially called Bitcoin Cash ABC too (BCHA), but was redenominated 1:100000 and rebranded to eCash in July 2021. 

The history of the Bitcoin Cash ABC network is controversial. A few years before BCHA forked off BCH, BCH itself split away from Bitcoin Core, or just Bitcoin. This was caused by disagreements among the team and the community about the scalability of Bitcoin with its block size cap of 1 MB and usefulness as a payment method. As a result, Bitcoin Cash was made, with larger block size, therefore supporting higher transaction throughput. 

Bitcoin Cash ABC was split off later because its core developer group was in favor of imposing “miner tax”. 8% of each block’s coinbase (newly mined coins which normally go to the successful miner as a block reward) would be sent to the address belonging to the developers as an incentive to work on the protocol. This idea was not received well by the community, and BCHA forked off BCH with almost no hashpower.

After rebranding to eCash, the network also made plans to integrate the Proof-of-Stake consensus protocol to help speed up the transactions. Experts also note that there is a focus on EVM compatibility, which may mean plans for interoperability with Ethereum-based projects.