Bitcoin BIP-110 Fork Faces Collapse 8 Hours After Activation, Lacking Adequate Hashrate, Only Generating Two Blocks

BlockBeats News, August 9th: Nodes supporting BIP-110 rejected blocks that did not include the support signal at block height 961,632, causing a Bitcoin fork. However, this new chain only produced two blocks approximately eight hours after launch, with no indication that miners intend to keep it going.

According to the BIP-110 monitor, this fork is currently at block height 961,633, while the Bitcoin main chain has reached block height 961,681.

BIP-110 is a year-long rule adjustment proposal designed to restrict non-financial data writes in Bitcoin transactions, including the use of Ordinals Script. The proposal requires a minimum of 1109 blocks (55%) to signal support within around two weeks of 2016-block cycles to activate, but only 51 blocks supported it in the previous cycle, accounting for 2.53%.