Data: Bitcoin BIP-110 nearing block 961,632, miner signal support rate is only 2.45%

According to Bitcoin.com, Bitcoin BIP-110 will enter the phase of enforcing nodes to reject non-signaling blocks after block 961,632. Monitoring pages show that out of the 1,674 blocks counted in the current cycle, only 41 blocks support BIP-110, with a miner signaling support rate of 2.45%.

BIP-110, officially named Reduced Data Temporary Softfork, plans to tighten certain data rules in Bitcoin transactions within about a year, limiting the size of certain data elements used by Ordinals inscriptions and multiple token protocols. This proposal is mainly distributed through Bitcoin Knots and has not been adopted by Bitcoin Core. Major mining pools such as Foundry, Antpool, F2pool, and Viabtc have not issued support signals. If BIP-110 nodes are executed as planned, the network may experience two transaction histories, with most miners and Bitcoin Core users expected to continue using the existing rules.

Australian Bitcoin exchange Hardblock stated that the activation of BIP-110 is expected around August 7 to 8, which may temporarily suspend buying, selling, deposits, and withdrawals. Lightning Network tools and analytics provider Amboss has indicated a risk of a fork in early August, and the Australian Bitcoin exchange Bitaroo plans to freeze deposits and withdrawals as the mandatory signaling approaches.