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Following
BTC Bitcoin improvement proposal BIP-110 encountered miners 'resistance, and the fork chain stalled after only two blocks.
The proposed Bitcoin improvement proposal BIP-110 stalled last weekend due to miners' overwhelming refusal to support it and triggered a brief but quickly terminated chain fork.
Chain bifurcation and miners 'reaction
The bifurcation started at a block height of 961,632, when the mandatory signaling window of BIP-110 was opened. At that point, nodes running the BIP-110 upgrade began rejecting any blocks that were not signaled through version bit 4. Once an unsignaled block is dug up, these nodes diverge and form an independent chain.
However, progress on this BIP-110 chain quickly stalled. The anonymous miners organization Roughnecks used Ocean Mining's DATUM protocol to produce two blocks with heights of 961,632 and 961,633. After these two blocks, mining activity on the fork chain stops. As of Sunday afternoon, the BIP-110 chain was stuck at block 961,633, while the main Bitcoin chain had advanced to block 961,744-a difference of 111 blocks between the two in about 17 hours.
Support for BIP-110 among miners is extremely low. Of the 2,016 blocks in the previous difficulty adjustment cycle, only 51 blocks signaled for BIP-110, accounting for only 2.53%, far below the 55% voluntary lock-in threshold required by the proposal. During the forced signaling window, none of the first 113 blocks on the main chain signaled for BIP-110.
Main Bitcoin chain: The latest block height is 961,744, the number of previous signal blocks is 51, and the required support threshold is 55%. BIP-110 bifurcated chain: The latest block height is 961,633, the number of previous signal blocks is 51, and the required support threshold is 55%.
Technical obstacles and proposal details
This attempt faces additional difficulties due to the way Bitcoin's proof-of-work mechanism works. Because the BIP-110 chain inherits the same mining difficulty as the main chain, but only has a negligible share of mining power, mining on the bifurcated chain is almost impossible. The agreement requires that the entire cycle of 2,016 blocks be completed before new difficulty adjustments can be made. Estimates of how long it takes for the bifurcated chain to reach this node range from less than a year to decades, depending on the extent of the transfer of computing power.
BIP-110 is officially named the "Reduced Data Temporary Soft Fork" and is designed to limit arbitrary data in Bitcoin transactions to about a year. The measure targets the growing use of Ordinals inscriptions and large OP_RETURN loads, features that allow users to embed non-financial data into the blockchain.
Small Dictionary: Ordinals inscriptions are a relatively new trend on the Bitcoin network that allows users to engrave arbitrary data such as images and text onto a single Satoshi (the smallest unit of Bitcoin). This practice has sparked controversy because of its impact on network congestion and block size.
Industry Reaction and Miner Compensation
Well-known people in the industry have expressed opposition to BIP-110 and its activation method. MicroStrategy co-founder Michael Siler and Blockstream CEO Adam Buck both expressed concern about the process, believing that the approach could trigger the kind of chain fork that happened to happen. Thaler believes that Bitcoin's consensus mechanism works as expected, retaining 99.85% of computing power on the main chain. Michael Siler said that Bitcoin continues to operate as designed, and the vast majority of miners (99.85%) remain in the dominant chain during chain fork events.
Ocean Mining, which supports the BIP-110 initiative, notified customers that some miners using its Stratum template may have unknowingly contributed computing power to the new fork chain, thinking that they were still supporting the original Bitcoin chain. Ocean promises to compensate affected miners for the rewards they would have received if they continued mining in the main chain during the relevant period. Ocean Mining said it will compensate any miners affected by their computing power being diverted to the BIP-110 fork chain to ensure that they receive the block rewards they should have earned during that period on the non-BIP-110 chain.
