BIP-110 Bitcoin Fork Falls Behind Main Network by 48 Blocks
Bitcoin's chain split due to BIP-110 has been deemed a failure by critics and key figures in the Bitcoin community. The fork occurred at block 961,632, but the alternative branch is struggling to produce blocks, falling behind the main Bitcoin network by 48 blocks.
The BIP-110 branch is meant to restrict arbitrary non-financial data embedded in Bitcoin transactions, but its supporters argue that it aligns with the original design of Bitcoin as a peer-to-peer monetary system. However, Bitcoin Core developers countered that restrictive policies are ineffective and can be circumvented by finding alternative routes.
Key figures such as Blockstream CEO Adam Back and Strategy executive chairman Michael Saylor have dismissed BIP-110's chances of success, with Back stating 'They forked off and found out' and Saylor predicting that it would stall into irrelevance. Meanwhile, Luke Dashjr, a longtime Bitcoin developer and maintainer associated with Bitcoin Knots, remains defiant, accusing opponents of spreading lies about the situation.
The BIP-110 branch is currently producing blocks at an average interval of 6.9 hours, significantly slower than the standard Bitcoin network's block-production target of approximately one block every 10 minutes.