According to Huoxing Finance, on August 8, Michael Saylor, founder of Strategy, posted that only 2.6% of miners have signaled support for BIP-110, failing to gain widespread backing. At block 961,632, its nodes will reject non-signaled blocks. Following this, BIP-110 will stall or fragment into irrelevance, while Bitcoin will continue operating normally. Bitcoin is functioning as designed. BIP-110 is a temporary soft fork proposal that would introduce seven additional consensus restrictions over a one-year period, including limits on new script public key lengths, partial push data, and witness item sizes, as well as disabling certain Taproot extension paths, significantly reducing the amount of arbitrary non-payment data—such as inscriptions and runes—that can be embedded in transactions. This aims to reduce node burden, curb spam data, and refocus Bitcoin on its primary role as money.
Michael Saylor: BIP-110 Lacks Miner Support, Likely to Stagnate or Become Irrelevant
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Summary
Michael Saylor highlighted that BIP-110 lacks miner support, with only 2.6% signaling approval. At block 961,632, non-signaling blocks will be rejected. The proposal, which introduces seven consensus rules, is unlikely to gain momentum. Bitcoin will continue operating as usual. The development raises questions about which altcoins to monitor amid shifting support levels. Saylor noted that the changes aim to reduce spam data and refocus Bitcoin on its monetary role. Current support for BIP-110 remains weak, suggesting it may stagnate or fade.
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