BIP-110 Developer Plan hard fork on September 1, changing the Bitcoin proof-of-work algorithm

Bitcoin News posted on the X platform that Luke Dashjr stated that the developer meeting is "progressing smoothly," and related plans are being advanced, aiming to change Bitcoin's proof-of-work algorithm through a hard fork.

The developers are expected to announce the selected hash algorithm tomorrow and enable RTDS starting from the first block. Discussions are also underway regarding block size reduction and replay protection. At the time of this announcement, reports indicated that Dashjr is no longer a licensed user of the BIP content repository. If this proposal is implemented, the change in the proof-of-work algorithm will create an independent blockchain and essentially form a new altcoin, with existing BTC holders receiving tokens on the forked chain.