BIP-110 nears key activation stage with Bitcoin soft fork targeted for early September

The proposal is set to enter mandatory signaling around Aug. 9, lock in by late August, and activate new transaction rules in early September after a 55% threshold is met.

Summary

BIP-110 is approaching a decisive activation phase for a Bitcoin soft fork, with mandatory signaling expected to begin around Aug. 9 at block height 961,632. The proposal is projected to lock in by late August at block 963,648 and activate new transaction rules in early September at block 965,664. BIP-110 uses a 55% signaling threshold and would enforce its restrictions for 52,416 blocks, or about one year. The proposal mainly targets transaction features such as large data pushes, oversized output scripts, undefined witness versions and the Taproot annex, while exempting UTXOs (unspent transaction outputs) created before activation so standard monetary use remains compatible.

Terms & Concepts
  • soft fork: Backward-compatible blockchain rule change
  • UTXO: Unspent transaction output in Bitcoin
  • Taproot annex: Optional Taproot transaction data field