What Is Electric Cash
Electric Cash is a payment protocol designed to be accessible and lightweight, with a focus on reducing transaction fees. Fast and free transactions on a secure and decentralized network make ELCASH ideal for everyday payments. The The network participants can stake ELCASH to govern the network and earn rewards from the staked amount. Staking will also reward users with additional benefits like free transactions and Governance Power (GP). Every Electric Cash holder can stake any number of his coins.
Important Points Table Of Electric Cash
| Basic | Points |
|---|---|
| Coin Name | Electric Cash |
| Short Name | ELCASH |
| Max Supply | 15,000,000,000 |
| Explorer | Click Here To View |
| Chat | Click Here To Chat |
| Website | Click Here To Visit |
How to Buy the ELCASH & Trade On Exchange?
Price
The live Electric Cash price today is $42.89 USD with a 24-hour trading volume of $18,267.78 USD. Electric Cash is down 0.86% in the last 24 hours. The current CoinMarketCap ranking is #3963, with a live market cap of not available. The circulating supply is not available and a max. supply of 21,000,000 ELCASH coins.
Electric Cash Governance System
In order to achieve direct democracy Electric Cash Coin implements a governance system. In the governance process, new changes can be proposed, designed, agreed upon and implemented. Changes are not limited to the blockchain source code technical details, but also may cover other important network and community issues. Thanks to the blockchain’s built-in voting mechanism, users can vote on proposals made both by the community members and/or core management team of Electric Cash.
Is Electric Cash mineable
During the early stages of development, ELCASH will operate using a merged mining process. It will allow ELCASH to leverage the hashing power of larger SHA-256 (Bitcoin-like) based chains ensuring the overall security of the new network. Merged mining is implemented with Bitcoin, since both cryptocurrencies use the same SHA-256 hash function. In this case, BTC is the parent chain and is the auxiliary chain. As a result, Bitcoin’s (parent) Proof-of-Work solutions can be used to validate (auxiliary chain) as an auxiliary Proof-of-Work (AuxPoW) consensus mechanism.
Free ELCASH transactions limit
In the project, blockchain fees are charged in advance and later returned to users if they were eligible for free transactions. Every user who stakes is eligible. The free transaction limit is calculated every day and depends on the user’s staking parameters. After a transaction is made, the fee is returned to the user’s spending wallet. This design helps keep the network secured against malicious over flooding, making attacks expensive, while genuine users are able to make free transactions.
Miners are not burdened with additional work without a reward. If a free transaction is to be made, mining difficulty is automatically lowered proportionally to the free transactions value included in the block. As a result, the miners’ total and final block rewards will not be affected in any sense by the free transactions and the miners’ additional work will be rewarded accordingly.
Electric Cash is a payment protocol
The Coin is a payment protocol designed to be accessible and lightweight, with a focus on reducing transaction fees. Fast and free transactions on a secure and decentralized network make ideal for everyday payments.
Electric Cash Ecosystem
This is designed to be a cash-like cryptocurrency for everyday use with an additional staking feature. The protocol is governed by its coin holders who are eligible to manage the future development of the ecosystem. All these aspects are integrated under one ecosystem, allowing to cover a wider variety of market and user needs
Staking
ELCASH holders can participate in the staking process to get Governance Power and earn additional benefits like free transactions and staking rewards.
Governance
The protocol is governed by its coin holders. Every user who earns Governance Power can actively propose new voting issues and have their say on the future development of the ecosystem.
Second Layer
Unique Second Layer design enables fast transactions and ensures the highest level of network security.
Why Electric Cash?
Cash-like
A medium of exchange to facilitate everyday payments.
Improved transactions
Electric Cash Fast and free transactions secured by the Proof-of-Work consensus and the second layer of blockchain.
Community influence
Community-driven governance system on a decentralized network.