BIP-110 Fork Fails to Gain Traction Despite Launch
A contentious Bitcoin fork known as BIP-110 has failed to gain traction after its launch yesterday. The new blockchain, which aimed to restrict the amount of non-payment data on the network for about a year, has produced only two blocks and remains stagnant at block 961.633.
The regular Bitcoin blockchain continues to operate normally, reaching block 961.727, with an over 90-block gap between the two chains. The BIP-110 fork's lack of progress is largely due to its low miner support, with only 2.53% of recent blocks signaling for the new chain, far below the targeted threshold of 55%.
The mining difficulty, which was set at a high level similar to Bitcoin, has also become a problem for the BIP-110 chain. With significantly lower hash rates than Bitcoin, it results in extremely long block times.