Bitcoin Developers Prepare 'Last Resort' Plan Amid BIP-110 Support Concerns
A group of Bitcoin developers and supporters have prepared an alternative plan in case the BIP-110 update fails to gain traction among miners. The proposal, which aims to temporarily restrict arbitrary data storage in Bitcoin transactions, has seen limited support so far.
Chris Guida, a Bitcoin developer, has repurposed proof-of-work code created by Luke Dashjr in 2017 onto a current version of Bitcoin Knots. This 'last resort' plan could be activated if miners fail to indicate their readiness for BIP-110.
The proposed update, also known as the Reduced Data Temporary Softfork, would introduce stricter limits on new transaction outputs, OP_RETURN fields, and witness data for approximately one year before automatically expiring.
Guida stated that this option needs to be kept open in case miners 'decide to conspire to betray Bitcoin.'