BIP-110 HARD FORKS FROM BITCOIN MAINNET AT BLOCK 961,632 FOLLOWING LOW MINER CONSENSUS ⚙️
Bitcoin Improvement Proposal 110 (BIP-110) formally split from the primary Bitcoin network via a hard fork execution at block 961,632. The chain split materialized after the proposed update failed to secure necessary consensus across the mining ecosystem, with signaling support capping out at approximately 2.6%.
BIP-110 sought to restrict non-financial transaction data storage on the blockchain, specifically targeting Ordinals inscriptions to mitigate network spam and mempool congestion. However, because the overwhelming majority of mining pools declined to run the updated codebase, the primary Bitcoin network continues to operate normally without protocol disruption. Concurrently, the minority BIP-110 fork now functions as an isolated blockchain, facing network irrelevance due to minimal hash rate backing.
This chain split highlights Bitcoin's decentralized governance structure, where protocol adjustments require broad miner consensus to achieve mainnet adoption. Standardized compliance combined with deep liquidity across major exchanges continues to provide a firm base for market absorption during network forks. Preserving mainnet stability safeguards long-term value preservation for the ecosystem.
In your opinion, does the rejection of BIP-110 by mining pools reinforce the immutability and absolute dominance of the original Bitcoin network?
Please do your own research carefully before making any transactions (DYOR). $BTC $TUT $IOTX
Bitcoin Improvement Proposal 110 (BIP-110) formally split from the primary Bitcoin network via a hard fork execution at block 961,632. The chain split materialized after the proposed update failed to secure necessary consensus across the mining ecosystem, with signaling support capping out at approximately 2.6%.
BIP-110 sought to restrict non-financial transaction data storage on the blockchain, specifically targeting Ordinals inscriptions to mitigate network spam and mempool congestion. However, because the overwhelming majority of mining pools declined to run the updated codebase, the primary Bitcoin network continues to operate normally without protocol disruption. Concurrently, the minority BIP-110 fork now functions as an isolated blockchain, facing network irrelevance due to minimal hash rate backing.
This chain split highlights Bitcoin's decentralized governance structure, where protocol adjustments require broad miner consensus to achieve mainnet adoption. Standardized compliance combined with deep liquidity across major exchanges continues to provide a firm base for market absorption during network forks. Preserving mainnet stability safeguards long-term value preservation for the ecosystem.
In your opinion, does the rejection of BIP-110 by mining pools reinforce the immutability and absolute dominance of the original Bitcoin network?
Please do your own research carefully before making any transactions (DYOR). $BTC $TUT $IOTX