BIP-110 Bitcoin Data Limit Proposal Nears Deadline, Miner Support at 0

Odaily Odaily Planet Daily News: The Bitcoin BIP-110 proposal is approaching its early August deadline, with miner support currently below 1%. The current cycle stands at 0, with no major mining pools supporting it. BIP-110, which stands for "Reduce Data Temporary Soft Fork," aims to limit OP_RETURN data capacity within a year, prohibit most arbitrary data writes exceeding 256 bytes, and restrict certain script formats primarily used for data storage. Strategy founder Michael Saylor and Blockstream co-founder Adam Back have both publicly opposed BIP-110. Data shows that BIP-110 employs a user-activated soft fork mechanism with a 55% miner signaling threshold. The proportion of nodes running BIP-110 software is in the single digits, primarily from Bitcoin Knots users. The current signaling cycle for this proposal is expected to end around block height 959,615, entering a voluntary lock-in period in early August, with activation planned for around September. If it still lacks widespread support by then, it could lead to a chain split formed by a minority of nodes.