Saylor Declares BIP-110 Dead as Threshold Eludes Bitcoin Miners

Michael Saylor has announced that it is now mathematically impossible for BIP-110 to reach the 55% volunteer support threshold in the current Bitcoin mining difficulty cycle. According to data shared by Saylor, a total of 946 blocks were generated up to block number 960,561 during the current difficulty adjustment period.

Of these, only 24 blocks had the BIP-110 support signal added to their version field in the block header. All of these supporting blocks were produced by DATUM miners who share their rewards through the OCEAN mining pool.

Saylor stated that no support signals came from miners outside of the OCEAN pool, and therefore it is unlikely that BIP-110 will reach the required 55% threshold in this cycle. This is because, according to Saylor, 'the current signals could not be considered a broad miner consensus.'

BIP-110 aims to make it more difficult to add large data to the Bitcoin network besides money transfers. Proponents of the proposal argue that Bitcoin should only be used for sending money and that unnecessary data shouldn't clutter the network.