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Bitcoin developer Paul Sztorc announces plans to launch the BTC hard fork network eCash in August
Golden Finance reports that on April 25th, Bitcoin developer Paul Sztorc announced the launch of a Bitcoin hard fork network called eCash, which will continue to use the SHA-256 hashing algorithm this August.
The plan will introduce a new competitive Layer blockchain and seven Layer2 scaling networks called “drivechains,” allowing BTC holders to exchange BTC for eCash at a 1:1 ratio after the hard fork goes live.
Paul Sztorc stated that, unlike Bitcoin Cash in 2017, eCash no longer uses the “Bitcoin” name, but his proposal to manually redistribute a portion of the approximately 1.1 million BTC held by Satoshi Nakamoto to early investors has sparked strong controversy in the community.
Some Bitcoin supporters criticized this move as “theft and disrespect.”