Odaily Planet Daily reports: ECX is planned to launch in three phases. The Alpha phase will go live near Bitcoin block height 963648, the Beta phase is expected to occur on September 20 at block height 967680, and the permanent mainnet is scheduled to launch on October 31 at block height 973728. The project is spearheaded by Paul Sztorc, founder and lead of Layertwo Labs and developer of Drivechains and BIP-300/301.
ECX will replicate the transaction ledger from a specified Bitcoin snapshot and distribute ECX on a 1:1 basis to the majority of Bitcoin holders on the new network. Users who controlled their private keys via self-custody wallets at the time of the snapshot will directly receive the corresponding assets. Users holding Bitcoin on exchanges or other custodial platforms must wait for those platforms to decide whether to support the fork and distribute ECX. Existing BTC will not be exchanged, locked, or transferred.
ECX plans to initially launch seven dedicated sidechains: Thunder, Zside, Bitnames, Bitassets, Photon, Truthcoin, and Coinshift. Of the approximately 1.1 million early Bitcoin addresses associated with Satoshi Nakamoto, approximately 600,000 ECX will be allocated to these addresses, and approximately 500,000 ECX will be transferred via special transactions to fund early investors and development, without affecting BTC on the Bitcoin network. (Bitcoin.com News)