Bitcoin holders have received eCash — What can you do with it?

Somewhere between the Binance hack and the US midterms, Paul Sztorc’s long-awaited Bitcoin fork, known as the eCash network, went live.

On Oct. 29, Sztorc, the founder of LayerTwo Labs and the driving force behind the Bitcoin Drivechain proposals BIP300 and BIP301 , launched a separate Bitcoin fork designed to bring payments, privacy and other applications to a network built from Bitcoin’s code.

“We need to actively sabotage the ‘degrowth’ policies killing Bitcoin,” Sztorc tells Magazine.

“We want to find the true Bitcoin builders and give them the tools to actually innovate. We just need the open-minded, risk-taking contrarians to come and build.”

The hard fork gives eligible Bitcoin holders an interesting windfall: their equivalent BTC balance in the new chain’s native token, ECX.

So what benefits does eCash bring to developers, and what can Bitcoin HODLers actually do with their new coins?

What is eCash?

Developed by Sztorc’s LayerTwo Labs, eCash is a separate hard fork of Bitcoin born out of Sztorc’s frustration with some of the “complacency narratives” and “cult-like toxicity” he believes has been holding Bitcoin back.

Sztorc dismisses criticism of Drivechains’ security. Source: archive.ecash