BIP-110 forks itself into oblivion with a “2-block chain” and CLARITY will finally get a Senate vote in September. The odds say that vote will be a No.
Supporters of the BIP-110 soft fork hoped to eradicate spam from the blockchain, but after a lengthy and heated debate the proposal has been pronounced Dead On Arrival. After securing just 2.5% support ahead of entering mandatory signaling on Saturday, it split off into a minority chain that mined just two blocks in eight hours before stalling.
This is probably no surprise given it’s just as difficult and expensive to mine on the new chain as it is on Bitcoin — but without any hope of being able to sell the block reward to recoup the costs. The difficulty would have adjusted downward if they’d managed to mine through another 2,014 blocks.
BIP-110 aimed to rid Bitcoin of non financial transactions, such as Ordinals, but opponents saw it as imposing censorship on the chain and it faced opposition from prominent Bitcoin advocates. Strategy executive chairman Michael Saylor said he shared the proposal’s objectives but argued that its approach& threatened Bitcoin’s neutral rules& and consensus.&
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