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Bitcoin developer Paul Sztorc announces hard fork eCash launching in August
BlockBeats News, April 25 — Bitcoin developer Paul Sztorc announced that in August, there will be a hard fork upgrade called “eCash” on the Bitcoin network, with a plan to build a new competitive Layer 1 network and 7 Layer 2 scaling networks (Drivechains).
According to his disclosure, after the fork is completed, BTC holders can exchange for eCash at a 1:1 ratio. The Layer 1 node software for the new chain will be based on the BitcoinCore client, “almost a complete replica,” and will continue to use the SHA-256 algorithm, while also lowering the initial mining difficulty to boost participation.
In addition, eCash will introduce 7 Layer 2 scaling networks to improve transaction throughput and support optional on-chain privacy features.
Sztorc emphasized that this plan is different from forks such as BitcoinCash in 2017, and said that eCash is intended to “fix long-standing problems with Bitcoin.” However, the community’s response to the design is clearly divided.
One of the points of controversy is that eCash plans to “manually reallocate” part of Satoshi’s approximately 1.1 million BTC assets to early participants, triggering strong opposition from some Bitcoin supporters, who believe this constitutes an infringement on the original chain’s assets.
The proposal has also drawn attention amid the broader debate over Bitcoin scaling, especially around key issues such as privacy features, quantum computing resistance, and the development path of the Lightning Network.