Bitcoin Developer's Plan to Create eCash Faces Backlash Over Satoshi Coin Reassignment

A long-standing Bitcoin developer, Paul Sztorc, has unveiled a contentious plan to create a new version of the Bitcoin blockchain, dubbed eCash, by implementing a hard fork in August 2026. This proposed fork would gift existing bitcoin holders equivalent tokens on the new network. However, the community is expressing outrage over the plan's funding mechanism, which involves reassigning coins linked to Bitcoin's mysterious founder, Satoshi Nakamoto. Sztorc's vision for eCash includes the integration of Drivechains, a scaling solution he first introduced in 2015, which enables seamless movement of BTC between the main chain and sidechains. The eCash hard fork is scheduled to occur at Bitcoin block height 964,000, with a coin-splitter tool to be released to facilitate the separation of BTC and eCash holdings. The new chain will be a near-replica of the existing Bitcoin blockchain, with the addition of Drivechains. Seven Drivechains are already in development, featuring a range of applications, including a privacy chain, a prediction market, and a decentralized exchange. The decision to utilize coins that would have been allocated to Satoshi Nakamoto's equivalent addresses on the eCash chain to attract investors has sparked intense criticism, with some labeling it as theft. The plan involves assigning fewer than half of the Satoshi-equivalent eCash coins to investors prior to the fork, with the precise mechanism remaining unclear. Sztorc argues that this approach is necessary to incentivize collaboration and prevent the project from becoming a 'zombie project' or falling under centralized control. Nevertheless, the response from the industry has been overwhelmingly negative, with many expressing concerns over the precedent it sets and the potential risks to BTC holdings.