Veteran Developer Proposes Bitcoin Hard Fork, Sparks Outrage Over Satoshi Coin Reallocation

A long-time Bitcoin developer, Paul Sztorc, has unveiled a proposal for a hard fork called eCash, aiming to launch a separate Bitcoin version in August 2026. The plan involves giving existing bitcoin holders equivalent tokens in the new network for free. However, the community is criticizing the funding aspect, which includes reassigning coins linked to Bitcoin's missing founder, Satoshi Nakamoto. The concept of a hard fork can be likened to a railway line splitting into two, allowing trains to reach different destinations. When a group of developers cannot agree on a proposed change to Bitcoin's code, they copy the existing blockchain and launch it as a separate chain. Sztorc's eCash hard fork will create a new chain with native eCash tokens, and holders of BTC at the time of the fork will receive equivalent eCash tokens. 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 operate under their own rules and features, enabling developers to build new capabilities on top of Bitcoin without requiring the entire network to adopt those changes. Seven Drivechains are already in development, including a privacy chain modelled on Zcash and a decentralised exchange called CoinShift. 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 theft. The community is concerned that this move sets a precedent and could eventually pose a risk to everyone's BTC holdings. Bitcoin advocates have expressed negative views on the proposal, with some criticizing the decision to reassign Satoshi coins and the potential risks it poses to the community.