The price of XEC is down, but my spirits are up? How can this be? Two reasons.
- I believe eCash has a secret weapon.
- I believe eCash’s secret weapon will pave the way to victory.
So what is eCash’s secret weapon? Pay 1000 XEC to read more.
In a word: fundamentals.
The reason I continue to make a huge bet on XEC is because I believe it’s the project with the strongest fundamentals in all of crypto. What does that mean?
I’m not talking about price-to-earnings ratios or gross profit margins. I’m talking about fundamentals as in the core building blocks that will serve as the foundation for future builders.
As I see it, these core building blocks are security, scalability, usability, and sustainability. Let’s briefly break them down one by one.
Security
The addition of Avalanche post-consensus back in September 2022 effectively made the eCash network one of the most secure blockchains in all of crypto. While other proof of work chains, especially those with smaller market caps, can easily be 51% attacked, eCash doesn’t have the same vulnerability due to its hybrid approach that leverages both proof of work and proof of stake. By leveraging both Nakamoto and Avalanche consensus, users can rest assured that their funds are not at risk.
Scalability
Plenty of blockchains claim they can scale, but I believe eCash is the only project with an explicit goal of processing 5 million transactions per second and a detailed roadmap on how it expects to get there. This is important because it means anyone who wants to build an application or business that leverages eCash can be confident the network will be able to handle the load if the application or business is successful. Imagine launching an app and having it go viral only to discover the underlying network it relies on buckled under the stress and killed all momentum. eCash is architected to make sure that doesn’t happen.
Usability
User experience often gets overlooked in crypto because most people today never actually use crypto. They might speculate on certain coins going up or down in value by purchasing them on their exchange, but that’s not usage. I define using crypto as making onchain transactions, and the key metrics to measure usability are speed, reliability, and cost. eCash is engineered for all three. While eCash transactions have always been reliable and cheap, with the upcoming launch of Avalanche pre-consensus, XEC transactions will also have near instant finality, making it truly like cash for the internet.
Sustainability
Yet another aspect of cryptocurrency projects that often gets overlooked is whether or not the project is sustainable. We’ve seen many developers involved in other projects stop working on them due to a lack of funding or because of schisms within the community. Meanwhile, eCash developers are funded directly out of the block reward, creating a built-in self-funding mechanism that naturally aligns the incentives of all ecosystem partners including miners, developers, and holders. While other chains are reliant on donors and sponsors, which can be unpredictable, eCash has proven over the past 5 years that self-funding works. In addition, because eCash has a solid roadmap, I don’t see the potential for any significant disagreements that might hamper progress.
In summary, eCash’s secret weapon is that it has all the necessary ingredients to serve as a strong foundation for the builders who will ultimately accrue value to the eCash network. These aren’t empty words. The past five years have seen an incredible amount of technical progress including the launch of Avalanche post-consensus, staking rewards, the in-node Chronik indexer, and next month, the breakthrough that is Avalanche pre-consensus. I believe the best technology always wins, and I am confident that after November 15th, eCash will represent the best technology that crypto has to offer.
Now that we’ve established the strong fundamentals that underlie the eCash network, how will this pave the way to victory?
By attracting the best builders. Though eCash still remains under the radar, I am confident that will not always be the case. In time, people who truly understand blockchain technology and its potential will want to build and invest in a network that isn’t limited in what it can achieve.
Up until now, liquidity has been king. Chains that have have the most liquidity have attracted the most “builders”. I put builders in quotes because most of what’s been built in the crypto industry thus far can either be categorized as a casino, a Ponzi scheme, or some other form of zero-sum game that creates no new value but only moves it from one person to another.
But I have faith that this will eventually come to an end as eCash proves to the world what blockchain technology is capable of. Not just as a novelty, but as an alternative financial system that gives rise to all kinds of new opportunities that were not possible before.
We have already seen a glimpse of this with projects like XECX, FIRMA, and Paybutton. But I predict this is just the start. As more people come to recognize the superior technical advantages that eCash offers, the liquidity will follow.
I also believe that the November upgrade, combined with the brand new landing page at e.cash, makes this the perfect time for the eCash project to be taken seriously by companies both inside the crypto industry and outside of it.
For example, if you are a decision maker at a large company, I think eCash represents a unique opportunity. By acquiring a sensible amount of XEC today, you could position yourself to be an active participant in this new digital cash ecosystem.
Due to its current market valuation, I see XEC as being low-risk with high-upside. At today’s prices, 1% of the total supply of XEC is worth ~$3.2M. Compare that to 1% of BTC, which is currently worth ~$23B.
Let’s say you are an online retailer or service provider, you could acquire some amount of XEC, followed by an announcement that the company is working with the eCash team to help build cash for the internet. While this may result in a short-term increase in XEC’s price, the goal isn’t to make a short-term trade but to fulfill a long-term vision. Next steps could include launching a pilot program that allows customers to receive rebates in the form of eCash deposited into an eCash wallet hosted by the company, which could then be used to pay for future goods or services.
A program like this could pave the way for eCash to be used as a digital currency versus just being another speculative asset, and I believe the former represents an even larger market than what Bitcoin has achieved thus far.
You could also argue a partnership with XEC is low risk not only in terms of the size of the investment needed, but also in terms of risk to an existing brand. This is because the announcement of the partnership would likely be limited to crypto media outlets rather than hitting the mainstream media. In addition, the partnership would not sound outrageous since eCash bills itself as “Cash for the Internet” and all businesses today have an online presence.
There are no guarantees eCash will succeed, but of all the projects in crypto, I believe it’s one of the few that have a serious team, and a serious vision, backed by serious engineering. The real victory won’t come from mere speculation, but real world usage by actual users. For me, this is the real unlock that crypto provides. Until we start to see that happen, I consider everything else as just noise.
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100% Agree.
My dad often said, the world revolves. Hair styles become outdated, then return as “the latest fashion”. Same thing with clothing.
At the onset of crypto, usage by real users, to reinvent how currency is defined, all rooted in “financial anarchy” were the driving force of the market, but everything changed at some point, now speculation is key, grifters and rug pulls are the order of the day.
The bad news is, that’s our current predicament. The good news is, like fashion, the tides would turn again, people would want free money, fast and free from the tentacles of the government, low fees etc , they’ll intuitively know they won’t get it from Bitcoin or the top 10 big names, the search would begin, ecash would be found and this time we’d —ecash — be prepared.
I find it dangerous that someone with only 3.2M could 1% of the total supply. Someone with bad intentions could try to kill the project
They would have to buy significantly more than 1% to attack the network. Currently we have ~1.5% of the total supply staked. So the attacker would have to buy something like 6% of the total supply to effectively attack the network. Buying that much XEC would drive the price up, making it harder for them to acquire. Also, they would be destroying the value of their own coins.