After an eventful weekend this week started seemingly quiet but as the week progressed there was more news and excitement resulting in epic price action at the end of the week. Let’s look back and go over this week's eCash news, day by day.
Mining Dutch Completes Rebrand and Redenomination
On August 22 eCash supporting mining pool Mining Dutch announced the completion of their BCHA to eCash (XEC) rebrand. Mining Dutch has been one of the mining pools that has been supportive of the project offering BCHA mining options from day one and is considered by the official eCash twitter account 28to be a good option for people wanting to mine eCash.
Binance Reopens Withdrawals
LBank Exchange Announces eCash (XEC) Listing
Also on August 23 Hong Kong based crypto exchange LBank announced eCash the listing of a XEC - USDT trading pair. Deposits were enabled an hour before trading started. The number of required confirmations is unknown. Withdrawals are announced to be closed until a subsequent announcement. No such announcement has been found.
Community Member Publishes CashTab Tutorial
Wins 1 million XEC Prize
That same day Mihsak Yamato, eCash supporter and member of the very active Filipino eCash community, published a comprehensive tutorial for the popular eCash Web Wallet and browser extension CashTab on Medium. The Tutorial details how to set it up, send and receive XEC, add more wallets to the app but also how to use it to send, receive and even create eTokens. This tutorial resulted in Mihsak Yamato being named 13th winner of CainBCHA’s content contest winning 1 million XEC prize money.
On August 25 Korean crypto exchange Bithumb finally announced their BCHA to eCash (XEC) rebranding schedule. Deposits and withdrawals are suspended that day and rebranding and redenomination of BCHA to be executed on the 27th. Resumption of trading to be announced later.
SimpleSwap Lists eCash (XEC)
On August 26 SimpleSwap, a simple coin to coin exchange service, announced the listing of eCash (XEC) on their website and mobile app coin swapping service. A much more simple option than more professional trading platforms (albeit more expensive), it is great to see such a service now available for people interested in acquiring some eCash (XEC).
Nasdaq.com Article Mentions eCash
Also on August 26 Nasdaq.com published an article titled “How Blockchain Will Change the Way We Work, Play and Stay Healthy in the Future”. In the second half of the article there is prominent mention of eCash (XEC). It reads:
"eCash, pioneered by Bitcoin’s ‘fallen angel’ and one of the ecosystem’s biggest innovators, Amaury Sechet, who diverged from the world’s most famous cryptocurrency to create Bitcoin ABC with the ambition of making the coin far more practical than its predecessor, has been designed with privacy and security as a priority.”
The article goes on to explain:
“Created using the revolutionary Avalanche blockchain, eCash is built on a consensus algorithm that enables instant transactions, fork-free upgrades and enhanced security. Tapping into the societal concerns about privacy and mistrust of centralized powers, eCash’s blockchain focuses on bringing a technically sound, politically decentralized governance protocol to the crypto ecosystem as a means of championing the privacy of its adopters - all through an adaptive blockchain."
BigONE Exchange Completes BCHA
eCash (XEC) Rebranding
On August 27 BigONE exchange announced the completion of BCHA to eCash (XEC) rebranding and opening of trading for their XEC - USDT market pair. Deposits are opened immediately and withdrawals are to be opened at the time trading starts (16:00 (GMT + 8) that same day). It is unknown how many confirmations are required at deposit or which address format this exchange supports.
First NFT On eCash?
Also on this day, Alitayin, developer of the XEC.app mini tool for eCash, posted a tweet claiming the creation of the first NFT eToken on the eCash network. Following her twitter account it shows she managed to sell it to an eCash enthusiast on Weibo for 1 million XEC on the 28th of August. This may turn out to indeed be a historic event and the first in many NFTs created and traded in the future of eCash.
Bithumb Completes Rebranding and Opens Trading
Also on that Friday Bithumb announced rebranding completion and announced XEC - KRW trading will start at midday (UTC) that same day. Deposits and withdrawals remain closed until further notice. When the markets open it proves very popular. This trading pair has a flying start with the price rising fast. Soon after other markets followed what would turn into a very strong global price rally pushing the coin to record highs all across the board record volumes.
Bitcoin ABC Team Releases a Major Version Number Software Upgrade.
A bit later than the normal bi-weekly Tuesday software upgrade release, the Bitcoin ABC team released the 0.24.0 version of the eCash full node software on Friday the 27th. This is the first release in a series of 0.24 version releases that will become mandatory for full node operators starting November 15th as part of the 6 months upgrade schedule. This release enables the ecash branding and use of XEC units by default. No other information is provided so one can assume that the November 15th upgrade will only be a mandatory software version upgrade with no consensus breaking changes.
YouTube Interview With Amaury Sechet, Lead Developer At Bitcoin ABC
On the final day of this week, August 28, an interview with lead Bitcoin ABC developer Amaury Sechet by Joel Valenzuela of Digital Cash Network was released on Youtube. This knowledgeable interviewer asked all the right questions and the result is an in depth view into the plans and vision behind the eCash (XEC) blockchain and currency. During the 55 minute long interview, Amaury Sechet shares his view on the past, the present and the future of eCash (XEC). The Interviewer later posted on twitter:
“I'm used to hearing people poorly explaining the value proposition of their project, but @deadalnix actually understands what he's doing, why he's doing it, and how to do it. Great chat, (I) really enjoyed it!”
eCash Contest Shifts Structure: More Prizes Announced
Later that Saturday August 28, eCash NEWS Today published an article on the donation received by CainBCHA towards his 100 day giveaway contest. As a result of this 50 Million XEC gift he has now added 3 grand prices together worth 50 Million XEC. All daily winners will compete for this with CainBCHA naming the grand winners after the regular contest has been concluded.
eCash Contest / Giveaway Update
The eCash content contest eCash News first reported on on August 13th continues to attract a lot of contestants with a large variety of content being posted in the different social media channels but most often on Twitter. This week's winners are: a graphic created by CryptoPanda following suggestions by Cain. The CashTab wallet tutorial as mentioned earlier in this article. Next is a religious graphic by Aden25. ARJatnika won a second time with a video/animation. Isa also won with a video/animation and also had previously been named a winner for another entry, next winner is Ilhamaditya with a graphic depicting an eCash miner. The final winner for this week is Mihsak Yamato who earlier this week won with the Cashtab tutorial. This Saturday it was a moody eCash gif in the rain that convinced Cain. Congratulations to all of these winners. With the new grand prizes announced by CainBCHA in his blog and also mentioned in this eCash NEWS Today article, all these winners will all be competing for part of the additional prizes worth 50 Million XEC.
This Weeks Market Action
After the price rallied at the end of last week, this week started with some traders continuing to take profits with volume data showing some cooling down. The Price went down as low as $74.44 (BCHA) and $ 0.00007233 (XEC).
With a short lived pump on Wednesday the chart showed mostly sideways movement until Friday when the Bithumb announcement about opening trading resulted in some careful enthusiasm on the markets. Soon after trading started on Bithumb, Korean markets started to heat up, followed by the rest of the global XEC and BCHA markets. The price rally continued all of Saturday as records were being set with trading volume rising to over 3 billion USD and global XEC price “killing a zero” to highs of $ 0.000162 ($ 162.26 for BCHA markets). Again eCash showed up at the top of lists of top gainers on several of the major exchanges and as the week concluded there were no signs yet of markets cooling down.