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HomeEthereumBitcoin’s BIP 110 fork deadline nears with miner assist at zero

Bitcoin’s BIP 110 fork deadline nears with miner assist at zero

Two of Bitcoin’s most influential figures got here out towards it on Saturday. Technique founder Michael Saylor posted that “there are 110 issues extra harmful to Bitcoin than spam,” arguing the proposal “turns a spam dispute right into a consensus change that may invalidate some at the moment legitimate, fee-paying transactions.” The precedent, he wrote, is the true hazard.

Adam Again, the Blockstream co-founder whose hashcash design is cited within the bitcoin white paper, made an identical case at larger size, addressed to the newcomers backing the proposal.

“Bitcoin respectfully says no to what you need,” he mentioned, including that their actual recourse, if unconvinced, is to group collectively and fork away, however that “bitcoin will not be becoming a member of it.”

The assist information reveals what the broader market actually thinks. BIP 110 doesn’t depend on the same old path of overwhelming miner approval, however makes use of a user-activated delicate fork, a mechanism by which nodes implement a rule whether or not or not miners agree, set to a 55% miner-signaling threshold relatively than the normal 95%.

Backing is absent even at that considerably decrease bar.

Miner signaling has by no means risen above about 1% in any interval and stands at zero within the present one, with no main mining pool behind it, based on the BIP 110 signaling monitor.

(BIP110.org/monitor)

Among the many nodes that retailer and relay the chain, adoption sits within the low single digits, carried nearly completely by Bitcoin Knots, a substitute for the dominant Bitcoin Core software program.

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