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Crypto

Bitcoin Network Splits Amid BIP-110 Proposal Controversy

Guavy AI Editorial Team
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The Bitcoin network experienced a chain split due to the BIP-110 proposal, which aims to impose a one-year restriction on processing non-financial data.

BIP-110 supporters initiated a soft fork at block height 961,632, but it failed to gain sufficient miner support and is now over 100 blocks behind the main chain.

Luke Dashjr, creator of Bitcoin Knots, insists that BIP-110 has not failed, but Roughnecks, which mined the split block, has announced they will stop mining operations under that name.

The market reaction to the fork has been neutral, with the Bitcoin price remaining stable at around $65,000.

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