Despite less than 3% miner support, Bitcoin BIP-110 proposal will enter the mandatory signaling period around August 9.
Bitcoin Improvement Proposal (BIP-110), which aims to temporarily restrict the storage of non-payment data on the Bitcoin blockchain, is expected to enter its long-planned mandatory signaling period around August 9. Despite current miner support being less than 3%, the proposal will continue to advance due to its design utilizing a User Activated Soft Fork (UASF). Supporters believe that BIP-110 will restore Bitcoin's original purpose as digital money by making inscription technologies like Ordinals and Runes impractical. Opponents, including Michael Saylor and Adam Back, argue that Bitcoin's strength lies in its high-threshold consensus rule change mechanism and advocate that block space usage should be determined by the network's fee market. Some Bitcoin exchanges plan to temporarily suspend deposits and withdrawals during the activation window as a precautionary measure.
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