Bitcoin blockchain splits into two, sustainability of new chain uncertain

[DigitalToday reporter Chi-gyu Hwang (황치규)] The bitcoin blockchain split into two on Aug. 8 (local time).

According to The Block, computers following BIP-110 entered a mandatory-signaling phase and began rejecting blocks without an approval signal, but the number of miners backing the rules is extremely small, making its sustainability uncertain.

In the mandatory-signaling phase, supporting nodes begin enforcing the rules even without approval from a majority of miners.

According to the report, BIP-110 calls for limiting non-financial data such as Ordinals inscriptions on the bitcoin blockchain for 1 year.

The split began at block 961,632. Antpool, the largest mining pool, was the first to create a block without an approval signal, and most computers accepted the block as valid. But computers following BIP-110 rejected the block and instead recognized as valid another block made by Roughnecks, a miner affiliated with Ocean.

While the main chain reached block 961,640, the BIP-110 chain remained at 961,633, trailing by 7 blocks. The Block said this shows BIP-110 supporters split from the network without gathering sufficient mining power.

A separate chain recognized by only a small number of nodes has emerged, but approval is so low that the chain is unlikely to last unless miner participation rises sharply. If support remains limited, the chain could slow down or stop altogether, Cointelegraph said.