BIP-110 Proposal Stalls Amid Miner Silence and Key Opposition

BIP-110, a proposal to limit non-financial data on the Bitcoin blockchain, is facing an uncertain future as its August lock-in deadline approaches. Despite its goals of addressing the methods used by Ordinals inscriptions and token schemes, the proposal has garnered almost no support from miners.

With miner signaling at zero and opposition from influential figures such as Michael Saylor and Adam Back, BIP-110's chances of success seem slim. Saylor argues that codifying transaction acceptability into a consensus rule sets a precedent with more long-term risk than the data bloat it targets. Back calls BIP-110 a 'quest to police other people' that conflicts with Bitcoin's permissionless and censorship-resistant foundation.

The proposal uses a user-activated soft fork mechanism, which allows nodes to enforce a new rule without miner approval but still requires a 55% miner-signaling threshold. Even at this reduced bar, support is effectively absent, with adoption sitting in the low single digits among nodes.