Electric Cash update: ELCASH Live price, price chart, news and markets

The ELCASH price update as of now is $0.04446. In the previous 24 hours, its trading volume was $43,292, and its value has decreased by -4.36%. As of now, ELCASH's live market cap is $24,720, and it is ranked as the #2239 on the Coincu. ELCASH has a circulating supply of 4,134,775 and a maximum supply of 4,134,775.

Introduction to Electric Cash (ELCASH)

Electric Cash, or ELCASH, refers to a payment protocol that emphasizes accessibility and lightweight functionality to reduce transaction fees. It facilitates fast and cost-free transactions on a secure and decentralized network, making it highly suitable for daily payments.

Engaging in Electric Cash Staking

Active participants in the Electric Cash network can engage in staking ELCASH tokens to govern the network and receive rewards. By staking their tokens, users gain additional advantages like free transactions and Governance Power (GP). Any holder of Electric Cash has the opportunity to stake any amount of their coins.

The Electric Cash Governance System

Electric Cash utilizes a governance system that enables direct democracy within the network. This system enables individuals to propose, design, agree upon, and implement new changes. These changes encompass not only technical aspects of the blockchain source code but also crucial network and community concerns. Through the blockchain's built-in voting mechanism, users have the ability to vote on proposals from both community members and Electric Cash's core management team.

Mining Opportunities for Electric Cash

During its developmental stages, ELCASH integrates merged mining as a process. This form of mining utilizes the hashing power of larger SHA-256 (Bitcoin-like) based chains, ensuring the overall security of the new network. In this merged mining setup, BTC acts as the parent chain, and ELCASH acts as the auxiliary chain. Consequently, Bitcoin's Proof-of-Work solutions can be utilized to validate ELCASH as an auxiliary Proof-of-Work (AuxPoW) consensus mechanism.