What is Ethereum Cash (ECASH) Crypto Beginner’s Guide
While cryptocurrency may be a major trend currently, 2017 proved to be a significant turning point in the history if all cryptocurrencies. Some of the popular cryptocurrencies were able to increase by as much as 240,000% of their value. Following the excellent growth of Ethereum during this period, Ethereum Cash was also released during this period. Bitcoin Cash serves as a benchmark for comparing the progress of Etereum Cash.
To promote the use of cryptocurrency by the average individual and also make it easy to get into the cryptocurrency community were some of the objectives for which the design and release of Ethereum cash were based on. the creation of the coin was also to encourage an increase in the use of digital currency in carrying out daily transactions. Making it to the top three cryptocurrencies on the market is a vision which the developers have for the coin. The design of the coin was to make it a free medium of exchange while introducing it into the market free from capitalists.
Ethereum Cash Quick Look
The Ethereum blockchain technology is the basis of the development of the Ethereum Cash. Ether which is used on the Ethereum platform is not a pure currency considering that the main reason for its creation is for coding on Ethereum and execution of smart contracts. On the other hand, the average person can make use of ECash currency which is both decentralized and secure. Even distribution and fairness are some of the aspects ECash hopes to provide improvements as a medium of exchange.
How has Ethereum Cash been performing on the markets?
During the last months of 2017, Ethereum Cash was able to appreciate in value similar to the Bitcoin and other cryptocurrencies. It was also able to reach a $1.52 high with a $5.3 million market capitalization in January. Currently, while the currency is still growing, it may not be as fast as the developers hoped for. Regardless of this, it has received acceptance from members of the cryptocurrency community.
Some of the excellent features which the ECash offers include the following:
- Safe and secure: it operates on the blockchain technology and is also decentralized to ensure that all transactions on the platform are secure
- Quick: since the currency is built using the Ethereum platform as its basis, the block times are quite fast. It provides a 15 seconds block time on its platform.
- Easy to use: the currency features a User Interface which is simple and easy to navigate. This is to keep in line with the goal of the currency which is to attract as many average users as it can to the cryptocurrency community.
Should I invest in Ethereum Cash?
Investing in the cryptocurrency will depend on your knowledge of the market. There are also various other factors you need to consider. One of such factors is the regulations which governments of various countries are looking to introduce on cryptocurrencies. These governments include South Korea, which remains one of the largest crypto markets. Regulations in this country are sure to have an impact on the value of this currency.