eCash (XEC) Price Prediction: Is The Bull Run Over?
• The eCash network is a Decentralized Finance (DeFi) solution that is expected to scale up transaction speed while reducing costs.
• On January 30, 2023, the Avalanche Pre-Consensus upgrade was announced on the eCash network, which reduces confirmation time from 10 minutes to a few seconds.
• The Avalanche Post-Consensus upgrade provides 51% attack prevention on the eCash network and operates using individual nodes forming a consensus to finalize blocks.
What Is eCash?
eCash is a Decentralized Finance (DeFi) solution created to support Ethereum Virtual Machine (EVM) compatibility. It aims to scale up transaction speed while reducing costs for crypto users. Currently, it trades at $0.00003694 in the last 24 hours and has recorded progress in February 2023 with its 30-day high at $0.00004428 and its 30-day low at $0.00003424.
Avalanche Pre-Consensus Upgrade
On January 30, 2023, the Avalanche Pre-Consensus upgrade was announced on the eCash network which offers almost instant transaction finalization where transactions are irreversible once finalized. It reduces confirmation time from 10 minutes to just a few seconds, making it faster than Proof-of-Work reliant cryptos like Bitcoin (BTC).
Avalanche Post-Consensus Upgrade
The Avalanche Post-Consensus upgrade provides 51% attack prevention on the eCash network and operates using individual nodes forming a consensus to finalize blocks on the network. If random or late blocks appear on the network during an attack, miners will agree to ignore these and validate each transaction before adding it to a block thus ensuring security against malicious activities.
Impact of Upgrades on Price Trend
The recent price gains of eCash can be attributed largely due to different factors related to its upgrades such as faster confirmation times and improved security measures offered by both Avalanche Pre & Post Consensuses upgrades respectively. This has increased confidence among investors in terms of reliability and trustworthiness of transactions taking place over the eCash Network .
eCash continues its growth trajectory with positive performance being recorded in February 2023 despite current market slump with its 30 day high at $0.00004428 & low at $0.00003424 . The recent upgradation of both pre & post consensuses have had positive impact on price trend hence increasing investor confidence in terms of security and reliability offered by this blockchain technology platform .