Foundry Digital, the world's leading Bitcoin mining pool operator based in Rochester, New York, announced Friday it will allow mining clients to vote on BIP-110 using their hashrate to signal support or opposition to the proposal. The voting mechanism aims to give miners a voice in network governance on one of Bitcoin's most actively debated proposals. BIP-110, also known as the 'reduced data temporary soft fork,' is a proposal to temporarily restrict spam on the blockchain by capping the amount of non-monetary data transactions can carry through a backward-compatible rule change.
Foundry Digital Implements Hashrate-Weighted Voting Mechanism
Foundry Digital said in an email to miners Friday that they will be able to vote by using their hashrate — computing power — to vote either for or against the proposal. Each vote carries weight based on an account's average 10-day hashrate on the pool between July 6 and July 15. The company stated, "As miners, it's important for you to have a voice and participate in the governance of the network." Foundry added, "It's one of the more actively debated proposals in Bitcoin right now, and miners play a direct role in whether it activates."
BIP-110 Technical Specifications Limit Non-Monetary Data
BIP-110, or Bitcoin Improvement Proposal 110, is a proposal aimed at temporarily restricting spam on the blockchain. If it goes through, a soft fork — a backward-compatible rule change — would take effect, restricting the amount of non-monetary data on the network. The proposal's rules limit most new outputs to 34 bytes, restore an 83-byte limit on OP_RETURN outputs, and reject data pushes above 256 bytes.
Stakeholders Divide on Soft Fork Proposal
Proponents of the proposal say that the soft fork would allow Bitcoin to function as pure peer-to-peer money. Opponents, including Strategy founder Michael Saylor and Blockstream co-founder Adam Back, argue it converts a policy dispute into a consensus change that could invalidate fee-paying transactions.
Voting Process Runs Through Block 961,632 in Early August
Foundry said it will signal based on the majority of hashrate-weighted votes across the signaling period, which it expects to run through early August at block 961,632. The company's starting position is no. Until "Yes" votes cross 51% of voting hashrate, Foundry signals "No" with all of its blocks. A crossing of that threshold switches the pool to "Yes" with all of its blocks. Foundry controls about a third of network hashrate, a share that makes its position consequential for the outcome. Analysts at BGeometrics identified decisions by Foundry and Antpool as capable of moving daily signaling into a meaningful range. Accounts that do not respond count as "No" votes. Foundry said owners can change their choice while the window remains open, and that individual votes stay confidential, though aggregate results may be shared.
FAQ
What is Foundry Digital's voting process for BIP-110?
Foundry Digital announced Friday it will allow mining clients to vote on BIP-110 using hashrate-weighted voting. Each vote carries weight based on an account's average 10-day hashrate on the pool between July 6 and July 15. The company will signal based on the majority of hashrate-weighted votes across the signaling period through early August at block 961,632.
What technical changes does BIP-110 propose for Bitcoin?
BIP-110 is a soft fork proposal that would restrict the amount of non-monetary data on the Bitcoin network. The proposal's rules limit most new outputs to 34 bytes, restore an 83-byte limit on OP_RETURN outputs, and reject data pushes above 256 bytes.
Why do stakeholders disagree on BIP-110?
Proponents say the soft fork would allow Bitcoin to function as pure peer-to-peer money. Opponents, including Strategy founder Michael Saylor and Blockstream co-founder Adam Back, argue it converts a policy dispute into a consensus change that could invalidate fee-paying transactions.
