ECX Plans Mainnet Launch on October 31, Most Bitcoin Holders to Receive ECX on a 1:1 Basis

Odaily News ECX plans a three-phase launch. 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 driven by Layertwo Labs founder and lead, and Drivechains and BIP-300/301 developer Paul Sztorc.

ECX will replicate the transaction ledger of a designated Bitcoin snapshot and allocate ECX to the majority of Bitcoin holders on a 1:1 basis 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 will need to wait for the relevant 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, around 600,000 ECX will continue to be distributed to these addresses, while approximately 500,000 ECX will be transferred via special transactions to serve as early investor and development funds, without affecting BTC on the Bitcoin network. (Bitcoin.com News)