As discussions continue on the Bitcoin network regarding the BIP-110 proposal, its supporters have begun preparing a remarkable contingency plan that could be activated if miners block the update’s activation.
Bitcoin developer Chris Guida announced that he has repurposed the proof-of-work code, originally created by Luke Dashjr in 2017, onto a current version of Bitcoin Knots. Guida stated that this work is a last resort that could be used if miners fail to give signals indicating they are ready for BIP-110.
BIP-110 stands out as a soft fork proposal aimed at temporarily restricting arbitrary data storage in Bitcoin transactions. Also known as the “Reduced Data Temporary Softfork,” the proposal introduces stricter limits for new transaction outputs, OP_RETURN fields, and witness data. The rules of the proposal are designed to remain in effect for approximately one year before automatically expiring.
Guida stated, “I think we need to keep this option open in case miners decide to conspire to betray Bitcoin.”
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If Things Go As BIP-110 Supporters Want, the Bitcoin Mining Network Could Change Completely.
If the proposed code is used, Bitcoin’s current mining algorithm could be altered. Such a change could prevent existing ASIC miners from generating blocks on the new chain, leading to a massive rebuild of the Bitcoin mining network. However, this scenario is only being considered as an alternative plan by BIP-110 supporters in an emergency situation.
Luke Dashjr, a developer at Bitcoin Knots, also contributed to the code’s creation. Dashjr said he hoped this option wouldn’t be needed, but that it could be useful to have it ready in case of a potential crisis.
Mechanic, a supporter of BIP-110, argued that the possibility of a proof-of-work change could create a deterrent effect on miners. According to Mechanic, miners should not be the ones setting Bitcoin’s rules, but rather participants providing services within the rules fully accepted by node operators.
While miner signals are being monitored during the BIP-110 activation process, data from the proposal’s official tracking page indicates that support remains limited.
*This is not investment advice.
