Svmuu News Bitcoin The BIP-110 proposal is approaching its early August deadline. Currently, miner support stands at less than 1%, the current cycle is 0, and no major mining pools have endorsed it yet.BIP-110, formally titled “Temporary Soft Fork to Reduce Data,” plans to limit the OP_RETURN data capacity within one year, prohibit the writing of most arbitrary data exceeding 256 bytes, and restrict certain script formats primarily used for data storage.Michael Saylor, founder of Strategy, and Adam Back, co-founder of Blockstream, have both publicly opposed BIP-110.Data shows that BIP-110 employs a user-activated soft fork mechanism with a 55% miner signal threshold; the percentage of nodes running BIP-110 software remains in the single digits, primarily consisting of Bitcoin Knots users.The current signaling period for this proposal will end around block height 959,615. It is expected to enter a voluntary lock-in period in early August and is scheduled to activate around September. If widespread support is still lacking by then, it could lead to a minority of nodes forming a fork.