Bitcoin developer Paul Sztorc announces the launch of the BTC hard fork network eCash in August.

Jinse Finance reported that on April 25, Bitcoin developer Paul Sztorc announced the launch of eCash, a Bitcoin hard fork network that continues to use the SHA-256 hash algorithm, scheduled for August this year. This project will introduce a new competitive Layer blockchain and seven Layer2 scaling networks called “drivechains.” After the hard fork goes live, BTC holders will be able to exchange BTC for eCash at a 1:1 ratio. Paul Sztorc stated that, unlike 2017’s Bitcoin Cash, eCash will no longer use the “Bitcoin” name. However, his proposal to manually reallocate part of Satoshi Nakamoto’s approximately 1.1 million BTC to early investors has sparked strong controversy within the community, with some Bitcoin supporters criticizing the move as “theft and disrespect.”