BIP-110 Support Climbs Ahead of August Activation Deadline

With less than two weeks left before the activation deadline on August 9, Bitcoin's BIP-110 proposal is gaining support among miners. The Reduced Data Temporary Softfork aims to limit the size of data fields used in transactions and target Ordinals-style inscriptions and oversized OP_RETURN payloads.

Support for BIP-110 has been steadily increasing, but it still lags behind major mining pools such as Foundry, Antpool, ViaBTC, and F2pool. These four pools control a significant portion of the network's hashrate, making their decision crucial to the proposal's success.

The largest miner pool, Foundry, is currently signaling against BIP-110, but it has asked its customers to vote on whether to support the proposal. Voting power is based on each customer's average hashrate, and if more than 51% of participating weighted hashrate votes in favor, the pool will switch all its blocks to signal support.

Regardless of the outcome, BIP-110's activation mechanism differs from previous soft forks such as Segwit and Taproot. Non-signaling nodes will continue accepting both signaling and non-signaling blocks while following the chain with the greatest accumulated proof-of-work. This could potentially lead to a chain split, but experts argue that it would not be equally viable.