Bitcoin Enters Controversial BIP-110 Signaling Period Amid Miner Resistance
Bitcoin has reached block 961,632, marking the beginning of the mandatory signaling period for BIP-110. This proposal aims to temporarily curb non-financial data from being embedded on the network.
The signaling phase started at around 19:35 UTC on Saturday with support from miners seldom exceeding 2.5%, far short of the required 55% mark. Prominent Bitcoin voices like Strategy chairman Michael Saylor and Blockstream CEO Adam Back have spoken out against BIP-110, citing concerns about its potential impact.
Despite this opposition, supporters of BIP-110 argue that there is a precedent for user-activated soft forks (UASFs), pointing to the 2017 activation of SegWit via BIP-148. This enabled the separation of digital signatures from transaction data and was accepted by users without miner support.