Bitcoin Developer's Plan to Split Blockchain and Redistribute Satoshi Coins Sparks Outrage

A long-standing Bitcoin developer, Paul Sztorc, has unveiled a contentious plan to create a separate version of the Bitcoin blockchain, called eCash, which would involve copying the existing code and launching a new network in August. As part of this plan, existing bitcoin holders would receive equivalent tokens on the new network at no cost. However, the community is up in arms over the proposal to reassign coins linked to Satoshi Nakamoto, Bitcoin's elusive founder, to attract investors before the fork takes place. This move has been denounced as theft by some, including Bitcoin advocate Peter McCormack, who views it as a disrespectful act. The proposed hard fork, scheduled for August 2026, aims to introduce a new chain called eCash, complete with its native tokens and a scaling architecture known as Drivechains. Drivechains are essentially sidechains that can operate under their own rules and features, allowing developers to build new capabilities on top of Bitcoin without requiring the entire network to adopt those changes. The introduction of Drivechains is intended to enhance the flexibility and efficiency of the Bitcoin network. Nevertheless, the controversy surrounding the reassignment of Satoshi coins has overshadowed the potential benefits of the eCash hard fork, with many expressing concerns about the precedent it sets and the potential risks to all BTC holdings.