Less than 1% Support, Yet BIP-110 Forcibly Pushes Bitcoin Towards a Soft Fork?
The controversial Bitcoin Improvement Proposal (BIP-110), which seeks to limit non-financial data like Ordinals and NFTs in Bitcoin transactions, is approaching a critical "forced activation" window in early August. Despite having extremely low support—less than 1% from miners and about 15% from nodes, far below its 55% activation threshold—the proposal’s rules will be enforced by supporting nodes, potentially creating a chain split. Proponents, led by developer Luke Dashjr and his Ocean pool, argue it’s necessary to curb “spam” and refocus Bitcoin on its monetary role. However, major opponents like Adam Back, Jameson Lopp, and Michael Saylor contend that BIP-110 fails to solve core issues, risks stifling innovation, compromises Bitcoin's censorship-resistant nature, and could fragment the network. Analysts suggest the minority BIP-110 chain will likely fail to become the longest chain due to lack of hash power, potentially leading to its abandonment or a permanent, separate fork with limited economic viability.
marsbit07/18 12:12