Layertwo Labs Tests ECX Bitcoin Fork Ahead of Oct. 31 Snapshot

Layertwo Labs is developing ECX as a hard fork of Bitcoin aimed at putting the Drivechain concept into practice through a separate blockchain. A hard fork creates an independently operating network and asset rather than replacing existing bitcoin. Eligibility for the new token will depend on control of the relevant private keys, making self-custody central to the distribution while holders’ original BTC remains unaffected.

The company has begun testing ECX and plans to take a Bitcoin mainnet snapshot on Oct. 31 before distributing the new token at a 1:1 ratio to qualifying BTC holders. Users who hold their own private keys will be able to claim the corresponding ECX allocation. After the fork, ECX and BTC are expected to exist independently on separate chains, with the distribution adding a new asset without reducing or altering recipients’ bitcoin balances.