Michael Saylor, founder of Strategy, has intensified his criticism of the BIP-110 soft fork proposal, calling on supporters not to fix what isn’t broken. BIP-110, also known as the Reduced Data Temporary Soft Fork, aims to restrict transaction data size to address network bloat and prevent Ordinals-like inscriptions from turning Bitcoin into a memecoin-heavy network like Solana. Miner support for the upgrade has risen to 2.3%, still far below the 55% activation threshold needed ahead of the August 9 deadline. Key figures like Saylor and Blockstream’s Adam Back oppose the changes, arguing that BTC shouldn’t be periodically modified, while others warn the proposal could make old BTC addresses vulnerable to theft. If current low support persists, analysts warn of a potential temporary network split that could force exchanges to suspend Bitcoin transactions.
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