Bitcoin Developer Paul Sztorc Announces Launch of eCash Hard Fork Network

Bitcoin developer Paul Sztorc has announced the launch of eCash, a hard fork network that continues to use the SHA-256 hash algorithm. The new network is scheduled to go live in August this year.

eCash will introduce a competitive Layer blockchain and seven Layer2 scaling networks called 'drivechains.' This technology aims to improve scalability and efficiency on the Bitcoin network.

The launch of eCash follows controversy surrounding Sztorc's proposal to manually reallocate part of Satoshi Nakamoto's approximately 1.1 million BTC to early investors. The move has been criticized by some in the community as 'theft and disrespect,' but it remains unclear how this will affect the launch of eCash.