BIP-110 | Crypto

BIP-110 sought to limit non-financial data on Bitcoin's blockchain but instead reignited debates over censorship and decentralization.

BGeometrics shows support at 0.42% since May 1, while Farside's alerts make the August lock-in window harder for exchanges, wallets, pools, and node operators to ignore. The post Bitcoin’s BIP-110 fork fight gives exchanges an August deadline before miners signal support appeared first on CryptoSlate.

The Bitcoin proposal caps arbitrary data in an attempt to combat spam from non-monetary transactions on the Bitcoin network. The number of Bitcoin (BTC) nodes signaling support for Bitcoin Improvement Proposal 110 (BIP-110), a temporary soft fork limiting the amount of data included in each transaction at the consensus level, rose to 2.38%.  583 out of 24,481 nodes are running BIP-110, and the primary node software implementation for running the soft fork proposal is Bitcoin Knots, according to The Bitcoin Portal. BIP-110 limits the size of transaction outputs to 34 bytes and caps the OP_RETURN data limit to 83 bytes. The temporary soft fork will be deployed for 1 year, with possible extension or alteration after the 1-year term, according to the proposal’s GitHub page. Read more