While discussions about the BIP-110 proposal continue within the Bitcoin network, its supporters have begun preparing an impressive contingency action plan that could be activated if miners block the activation of the upgrade.
Bitcoin developer Chris Guida announced that he has adapted the proof-of-work code, originally created by Luke Dashjr in 2017, for the current version of Bitcoin Knots. Guida stated that this work is an extreme measure that could be used if miners do not signal readiness for BIP-110.
The BIP-110 proposal stands out as a softfork aimed at temporarily limiting the storage of arbitrary data in Bitcoin transactions. Also known as the 'temporary reduced data softfork,' this proposal introduces stricter limits for new transaction outputs, OP_RETURN fields, and witness data. The proposal's rules are designed to remain in effect for approximately one year before expiring automatically.
Guida stated: 'I think we need to leave this option open in case miners decide to collude to betray Bitcoin.'
If everything goes as BIP-110 supporters wish, the Bitcoin mining network could be transformed from top to bottom.
If the proposed code is used, Bitcoin's current mining algorithm could be changed. Such a change could prevent existing ASIC miners from generating blocks on the new chain, leading to a massive restructuring of the Bitcoin mining network. However, this scenario is viewed by BIP-110 supporters only as an alternative emergency plan.
Luke Dashjr, a developer from Bitcoin Knots, also contributed to the creation of the code. Dashjr said he hopes this option won't be needed, but that having it could be useful in case of a potential crisis.
Mechanic, a BIP-110 supporter, argued that the possibility of changing the Proof-of-Work algorithm could have a deterrent effect on miners. In Mechanic's view, Bitcoin's rules should be set not by miners, but by participants providing services under rules fully accepted by node operators.
Although miner signals are being tracked in the BIP-110 activation process, data from the proposal's official tracking page indicates that support remains limited.
*This is not investment advice.
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