BIP-110 Falls Short of Miner Consensus

Bitcoin Improvement Proposal (BIP) 110 has fallen short of securing miner consensus, according to a recent analysis by Michael Saylor. BIP-110 proposes seven temporary restrictions on Bitcoin transaction data, including limits on output scripts and OP_RETURN outputs.

Saylor's analysis, which was based on blockchain signaling data as of August 1, found that the proposal has only 2.53% support among miners, far short of the 55% threshold required for voluntary lock-in.

The proposal would restrict most new output scripts to 34 bytes, capping OP_RETURN outputs at 83 bytes and restricting certain data pushes to 256 bytes. Supporters argue that these restrictions would reduce arbitrary data storage and keep Bitcoin focused on monetary activity.

However, Saylor and Blockstream co-founder Adam Back have argued that consensus rules should not determine which currently valid transaction structures deserve block space. They suggest that fee markets and individual node policies offer a safer response to disputed data use.