Bitcoin Hard Fork Creates New Cryptocurrency ecash (ECX)

A new cryptocurrency called ecash (ECX) is set to launch as part of a hard fork in Bitcoin's network. The fork, created by Paul Sztorc and his company Layertwo Labs, aims to create a separate network that copies Bitcoin's transaction ledger at designated snapshots.

Bitcoin holders who control their private keys will receive an equal number of ECX coins on the new chain, but those holding their BTC on exchanges or custodians may be left waiting for distribution. The project plans to launch in three phases: alpha, beta, and mainnet, with the permanent mainnet scheduled for October 31st.

ECX will have its own sidechains, including Thunder for high-throughput payments and Zside for shielded transactions. Unlike previous attempts at hard forks, such as BIP-110, ECX is not trying to force rules onto Bitcoin but rather create a separate experiment built to fight for users, miners, and capital.