Bitcoin developer PaulSztorc plans to launch a hard-fork network eCash to support 1:1 redemption for BTC, sparking community controversy

Bitcoin developer PaulSztorc announced that it will officially launch the Bitcoin hard fork network eCash. BTC holders can exchange BTC for eCash at a 1:1 ratio after the hard fork is launched. It is reported that the Layer1 node software of the network will be a "nearly replica" of the BitcoinCore client, continuing to use the SHA-256 hash algorithm and reducing the initial mining difficulty to attract more miners to participate. At the same time, eCash will also be equipped with seven Layer2 expansion networks called "drivechains" to improve transaction throughput and support optional on-chain privacy features. PaulSztorc said that eCash is different from BitcoinCash in 2017 and no longer uses the name "Bitcoin" and called it a long-term solution to Bitcoin scalability and privacy issues. However, its proposed plan to manually reallocate some of Nakamoto's approximately 1.1 million BTC to early investors triggered strong controversy in the community, with some Bitcoin supporters criticizing the move as suspected of "theft" and undermining Bitcoin principles.