Bitcoin Fork Fails as Miners Reject Controversial Proposal

A contentious Bitcoin fork has failed to gain traction after critics warned that it could occur if the proposal reached its signaling phase without miner support.

The chain split happened at block 961,632, according to data from the BIP-110 monitoring infrastructure cited by Bitcoin commentators.

The BIP-110 branch is currently struggling to produce blocks and has fallen behind the main Bitcoin network. It's now producing blocks at an average interval of about 6.9 hours, while the standard Bitcoin chain produces one block every 10 minutes.

BTC Treasury executive chairman Michael Saylor said that with only 2.6% miner signaling, BIP-110 has failed to earn broad miner support and will stall or fork into irrelevance while Bitcoin continues normally.