Bitcoin Developer Paul Sztorc Announces Launch of BTC Hard Fork Network eCash in August

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On April 25, Bitcoin developer Paul Sztorc announced that the eCash network, a hard fork of Bitcoin continuing to use the SHA-256 hashing algorithm, will be launched in August this year. This proposal will introduce a new competitive Layer blockchain and seven Layer 2 scaling networks called ‘drivechains.’ BTC holders will be able to exchange their BTC for eCash at a 1:1 ratio once the hard fork goes live. Paul Sztorc stated that unlike Bitcoin Cash in 2017, eCash will not use the ‘Bitcoin’ name. However, the plan to manually redistribute a portion of Satoshi Nakamoto’s approximately 1.1 million BTC to early investors has sparked significant controversy within the community, with some Bitcoin supporters criticizing the move as ‘theft and disrespect.’

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