Controversial Bitcoin fork BIP-110 mines two blocks, then stops

TechControversial Bitcoin fork BIP-110 mines two blocks, then stopsThe breakaway chain inherited bitcoin’s mining difficulty with only a tiny share of hashpower, leaving blocks hours apart while both chains still accept the same transactions.By Shaurya Malwa|Edited by Nikhilesh DeUpdated 54 min agoPublished 2 hrs ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowA minority chain created by supporters of Bitcoin’s BIP-110 proposal has effectively stalled, producing only two blocks in roughly eight hours while the main bitcoin chain has advanced by 48 blocks.BIP-110 would temporarily ban storing non-financial data such as images and text in bitcoin transactions, a move backers say would reduce congestion and costs but critics argue violates users’ freedom to use paid block space as they wish.With only 2.53 percent of recent mining support, the forked chain faces extremely slow block times, no realistic path to meeting its signaling deadline, and exposes users to replay-style risks if they try to sell fork coins while spending their main-chain bitcoin.A new, minority chain created when BIP-110 supporters split from Bitcoin on Saturday has produced just two blocks roughly eight hours after going live, with no sign that any miner intends to keep it moving.Around 6 a.m. UTC, it sat at block 961,633 while the main bitcoin chain had reached block 961,681, per the BIP-110 situation monitor. The fork happened at 961,632, when computers running BIP-110 software began rejecting any block that did not signal support for the proposal.A block is a batch of transactions added to bitcoin's ledger roughly every ten minutes, so the gap of 48 represents most of a day's worth of activity on one side and almost none on the other.BIP-110, short for Bitcoin Improvement Proposal-110, is a move to stop people storing pictures, text and other non-financial data inside bitcoin transactions for a year. Supporters…

Controversial Bitcoin fork BIP-110 mines two blocks, then stops

Coins in this story

Discussion

Related stories

Hardware wallet sales in Russia more than double as new crypto rules near

Bitcoin hits block 961,632 as the controversial BIP-110 soft fork attempt begins

Brazil's central bank orders exchanges to delay large crypto transfers abroad