Bitcoin developer Paul Sztorc plans to launch hard fork network eCash in August, sparking community controversy over 1:1 BTC exchange

Odaily Planet Daily News Bitcoin developer Paul Sztorc announced that the Bitcoin hard fork network eCash will officially launch in August this year. BTC holders can exchange BTC for eCash at a 1:1 ratio after the hard fork goes live. It is reported that the network's Layer 1 node software will be a "near copy" of the Bitcoin Core client, continuing to use the SHA-256 hash algorithm and lowering the initial mining difficulty to attract more miners to participate. At the same time, eCash will also be equipped with 7 Layer 2 scaling networks called "drivechains" to increase transaction throughput and support optional on-chain privacy features.

Paul Sztorc stated that eCash is different from Bitcoin Cash in 2017, no longer using the "Bitcoin" name, and claims it is a long-term solution to Bitcoin's scalability and privacy issues. However, his plan to manually redistribute part of Satoshi's approximately 1.1 million BTC to early investors has sparked strong controversy within the community, with some Bitcoin supporters criticizing the move as tantamount to "theft" and a violation of Bitcoin principles. (Cointelegraph)