Bitcoin Developer's Proposal to Split Blockchain and Reassign Satoshi Coins Sparks Outrage

Veteran Bitcoin developer Paul Sztorc has unveiled a radical plan to overhaul the cryptocurrency's architecture by launching a separate version of the blockchain, dubbed eCash, in August 2026. The proposed hard fork would give existing bitcoin holders equivalent tokens in the new network for free. However, the community is up in arms over the funding part of the plan, which involves reassigning coins linked to Bitcoin's mysterious founder, Satoshi Nakamoto. A hard fork can be thought of as a railway line splitting into two, with trains starting from the same station but eventually reaching different destinations. This is precisely what happened in 2017 when the debate over Bitcoin's block size led to the creation of the Bitcoin Cash blockchain. Sztorc's eCash hard fork will create a new chain with native eCash tokens, and holders of 4.19 BTC at the time of the fork will receive 4.19 eCash. The new chain will be a near-copy of Bitcoin's existing blockchain, with the addition of Drivechains, a scaling architecture that allows seamless movement of BTC between the main chain and sidechains. Drivechains can be thought of as service roads attached to a main highway, enabling more efficient handling of traffic. Seven Drivechains are already in development, including a privacy chain modelled on Zcash and a decentralised exchange called CoinShift. However, the plan to use coins that would have gone to Satoshi Nakamoto's equivalent addresses on the new eCash chain to bring investors on board has sparked controversy, with some calling it outright theft. The community is criticizing the funding mechanism, arguing that it sets a bad precedent and could potentially put everyone's BTC holdings at risk. Bitcoin advocates, including Peter McCormack and Josh Ellithorpe, have expressed strong opposition to the plan, citing concerns over the misuse of Satoshi coins and the potential for centralized control over the chain's direction.