ECX plans to launch mainnet on October 31, with most Bitcoin holders eligible to receive ECX at a 1:1 ratio

Odaily Planet Daily News ECX plans to launch in three phases. The Alpha phase will go live around Bitcoin block height 963,648, the Beta phase is expected to occur on September 20 at block height 967,680, and the permanent mainnet is scheduled to launch on October 31 at block height 973,728. The project is led by Paul Sztorc, founder and head of Layertwo Labs and developer of Drivechains and BIP-300/301.

ECX will replicate the transaction ledger of a designated Bitcoin snapshot and distribute ECX to most Bitcoin holders at a 1:1 ratio on the new network. Users who control their private keys through self-custody wallets at the time of the snapshot can directly claim their corresponding assets, while users on exchanges and other custodial platforms must wait for those platforms to decide whether to support the fork and distribution of ECX. Original BTC will not be exchanged, locked, or transferred.

ECX plans to initially launch seven dedicated sidechains: Thunder, Zside, Bitnames, Bitassets, Photon, Truthcoin, and Coinshift. Of the approximately 1.1 million early Bitcoins associated with Satoshi Nakamoto, approximately 600,000 ECX will continue to be allocated to those addresses, while approximately 500,000 ECX will be directed to early investors and development funding through special transactions, without affecting BTC on the Bitcoin network. (Bitcoin.com News)