On-chain detective Tyler has drawn attention to a proposed Bitcoin hard fork amid quantum threats to the Bitcoin network. This has raised concerns about what could happen. Satoshi Nakamoto’s BTC holdingsThe developer who proposed the proposal was confident that Satoshi’s coins would remain safe.
Proposed Bitcoin hard fork raises concerns about Satoshi’s holdings
to X postTyler warned that Satoshi’s coins will likely move within a week of the proposed e-cash hard fork. Paul Sztorc, founder of LayerTwo Labs. Bitcoin hard fork proposedHe called it eCash and said it would be launched in August of this year. He explained that investor coins will be split and these investors will get an amount equivalent to their BTC holdings in eCash.
Sztorc also said that their L1 node is almost a copy of: bitcoin core SHA256d mining. He also mentioned that the fork will be reset to its minimum via a one-time difficulty level. So mining will be very difficult at first. Meanwhile, the LayerTwo Labs founder revealed that they will be changing their seed nodes, names, and network magic.
Sztorc also mentioned how this Bitcoin hard fork differs from the Bitcoin Cash hard fork. He noted that BTC holders are being forewarned and plans to initially replay all transactions and even launch a coin splitting tool. The cryptocurrency founder added that this is a permanent and sustainable solution to the BTC problem. This proposal has particularly raised concerns about what will happen next. Satoshi’s BTC holdings.
Cryptocurrency Educator DBCrypto proposal The proposed Bitcoin hard fork was a ruse to gain access to Satoshi’s coins. He also called out those who might support the proposal because it would violate the privacy of their coins.
Satoshi’s coins will remain intact
Elsewhere X postSztorc expressed concern about what will happen to Satoshi’s Bitcoin holdings, revealing that they are not taking any of his coins. Instead, he said he would give me a ‘gift’. BTC founder Instead of the 1.1 million coins he currently holds in BTC, he has 600,000 eCash.
Sztorc pointed out that these coins are more than what Satoshi earned from Litecoin, Ethereum, Solana, Tether, and other cryptocurrency projects. He reiterated that BTC balances are not affected by eCash as there is no BTC software or private keys to move coins. Meanwhile, the way it works is that these eCash coins move whenever the holder moves their BTC. However, if you sell your eCash coins, the transaction will not be re-executed. bitcoin network.
At the time of writing, the BTC price is said to be trading around $77,000, having risen over the past 24 hours. data From CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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