BIP-110 Minority Chain Revived, Block Size Slashed to 300 KB
The BIP-110 minority chain has come back to life 23 days after it split from the main Bitcoin blockchain.
The chain was created by a group of supporters who believe the Bitcoin blockchain should only be used for financial transactions. However, miners had difficulty discovering blocks under the weight of the difficulty adopted from the main Bitcoin chain.
After stalling, the minority BIP-110 chain suddenly picked up speed at block height 961640, with Silent Wave mining a block under new Blake2b consensus rules. Since then, over 800 minority chain blocks have been mined.
The supporters of the minority chain have also reduced the block size to 300 kB, an idea first proposed by Luke Dashjr in 2017 as part of a Bitcoin Improvement Proposal (BIP). This change was predicted two weeks prior on X and has been mocked by BTC supporters who say they cannot take this 'sh**coin' seriously.
The BIP-110 minority chain's asset is not listed on any centralized exchanges, and major crypto exchange aggregators do not showcase a ticker for it. Despite this lack of support, the minority chain's developers insist that it is no big deal, saying 'Let's just earn bitcoin by selling goods and services, and buy goods and services to spend our bitcoin.'
The broader Bitcoin conversation treats the episode as settled, with many considering the new chain to be a fork and not actually Bitcoin. Whether or not the so-called bitcoin-blake2b crypto asset gathers any price value in the future is anyone's guess.