Is BIP-110 Bitcoin’s Defense Against Spam or the Start of a Chain Split?
Bitcoin is the world’s last and only hope. Is BIP-110 how we keep it alive? Detractors say the proposed soft fork will cause a chain split, that the 55% activation threshold is irresponsibly low, and thus antithetical to Bitcoin’s traditional values. Proponents counter that BIP-110 simply restores Bitcoin to its healthy state, before the inscription attack began and opened the door to the corporate takeover of Bitcoin Core.
This article takes the second perspective.
The anti-SPAM view is: We reject your hypothesis because Bitcoin is money. Bitcoin is not a database, and arbitrary data is incompatible with Bitcoin’s monetary properties. Granted, BIP-110 is a soft fork, and all soft forks carry certain risks of a chain split. However, the network needs to respond to the SPAM attack. Still, the question remains: Is BIP-110 the right tool for the job?
Ultimately, the miners will decide, but their job is to do...
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