Bitcoin Improvement Project 110 began its mandatory-signaling stage at block 961.632 on Satuday, when miners only signaled support in 51 blocks out of the previous 2,016, or 2.53%. This is far below the required 55% threshold for early activation.
BIP-110 enforcers began refusing to accept blocks that didn’t set the version bit 4 at block 961 632. Bitcoin normal nodes continue accepting blocks with and without signaling. A BIP110 minority branch emerged but fell quickly behind the dominant blockchain.
A rival chain is unlikely to survive without a significant increase in miner involvement due to the low signaling rates. A BIP110 branch that receives relatively low mining support could progress slowly or even stop making blocks.
This milestone will test whether or not supporters are able to advance a controversial consensus change, without the support of many miners. It could separate enforcer nodes from dominant chains and escalate a debate over Bitcoin’s use of block space.
BIP 110 seeks to limit temporary Bitcoin data
Writen by pseudonymous Dathon Ahm. BIP-110 Proposals for additional restrictions that would last approximately one year.
This would restrict the size of most new scripts (mostly output scripts) to 34 Bytes. It also caps OP_RETURN at 83 Bytes. The only exception would be unspent outputs of transactions created prior to activation.
Some supporters said that the new restrictions will discourage non-monetary data and inscriptions which increase bandwidth and storage costs.
Michael Saylor (Executive Chairman of Strategy) and Adam Back (CEO of Blockstream), both CEOs at Blockstream, are among the critics. have argued that the proposal could divide Bitcoin Nodes will reject any transactions that are not allowed by the rules of the existing network.
Related: Bitcoin nodes running BIP-110 crosses 2% as spam wars heat up
This is a proposal uses version bit 4 for miner signaling. The deployment schedule specifies blocks 961.632 to 963.647 as the mandatory-signaling period, when nodes that enforce BIP-110 will reject any blocks without the required signal.
This specification defines the block 963.648 to be the start of the locked-in condition and the block 965.664 the moment its transaction restrictions come into effect.
BIP 110 proponents also discuss a fallback that is more expansive. On Aug. 1, Bitcoin developer Chris Guida rebased Luke Dashjr, Bitcoin Knots’ maintainer, originally wrote the code to change a Proof-of-Work.
Guida described At the time, the code was a possible contingency in the event that miners would not support BIP 110. But no date of activation has been announced.
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Source: cointelegraph.com
