Bitcoin Community Outraged Over Proposal to Split Blockchain and Redistribute Satoshi Coins

Veteran Bitcoin developer Paul Sztorc has unveiled a radical plan to revamp the cryptocurrency's architecture through a hard fork, dubbed eCash, slated for August 2026. This new chain will mirror Bitcoin's existing blockchain, with the addition of Drivechains, a scaling solution Sztorc first introduced in 2015. However, the community is up in arms over the proposal to reassign coins linked to Bitcoin's elusive founder, Satoshi Nakamoto, to attract investors before the fork. The plan involves copying Bitcoin's code to launch a separate version, giving existing bitcoin holders equivalent tokens in the new network for free. The eCash hard fork will create a new chain with native eCash tokens, and a coin-splitter tool will be released to help holders separate their BTC from their new eCash. The new chain will be a near-copy of Bitcoin's existing blockchain, with Drivechains allowing seamless movement of BTC between the main chain and sidechains without altering Bitcoin's base layer. Seven Drivechains are already in development, including a privacy chain modelled on Zcash and a quantum-resistant chain called Photon. Sztorc's 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 been met with criticism, with some calling it outright theft. The community is concerned that this move could set a dangerous precedent, potentially putting everyone's BTC holdings at risk. Bitcoin advocate Peter McCormack and Josh Ellithorpe, chief technology officer at Pixelated Ink, have expressed their disapproval of the plan, citing concerns over the precedent it sets and the potential risks to the community.