The BIP-110 UASF has officially begun with support from only 2.53% of miners, with 51 out of 2,016 blocks indicating support before the mandatory-signaling phase started at block 961,632. This level of support falls significantly short of the 55% threshold required by BIP-110 for activation without a contentious chain split. BIP-110 seeks to temporarily restrict the use of Bitcoin for inscriptions and other non-financial data for about a year by limiting certain Taproot features. Michael Saylor, founder of MicroStrategy, recently published 110 reasons why he believes BIP-110 is a bad idea. The coming weeks will determine whether BIP-110 can sustain a minority fork or eventually lose momentum.
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