Bitcoin's BIP-110 Proposal Enters Signaling Phase with Low Miner Support

The Bitcoin proposal BIP-110 has entered its signaling phase after block 961,632. This proposal aims to restrict certain non-financial data in transactions. Currently, miner support remains very low at below 3%, far from the required 55% needed for implementation.

However, node operators may enforce the change via a user-activated soft fork (UASF), which could lead to a split in the Bitcoin network if nodes reject blocks from non-supporting miners. This would create two competing chains.

The signaling period will last until block 965,664, approximately four weeks away, with close attention on miner support and node adoption.