BIP-110 Supporters Discuss Changing Mining Algorithm to BLAKE2b

Supporters of BIP-110 are discussing changing the mining algorithm of minority chains from SHA-256d to BLAKE2b through a hard fork. The transaction history before the fork will be shared by both chains, and if the transaction and signature rules are consistent, the same transaction may be duplicated on the other chain, leading to replay attacks. The miner support rate for BIP-110 peaked at about 2.53%, and after the consensus rules took effect on August 8, the minority chain only produced two blocks consecutively before stagnating, while the Bitcoin main chain continued to operate and widen the block height gap. The BIP-110 proposal was subsequently marked as closed, and supporters turned to discuss the BLAKE2b proof-of-work scheme. Bitcoin Knots plans to add new signature hash options, but RDTS will maintain compatibility with the existing signature hash types in Bitcoin Core. Regular transactions may continue to be valid on both chains, and users will need to use the new options and rely on wallets or hardware signature firmware that support this feature for asset separation. Luke Dashjr stated on August 18 that Bitcoin should bear the responsibility for replay protection and referred to it as 'Spamcoin.' If the BLAKE2b fork proceeds around September 1, exchanges, wallets, and holders will need to distinguish between cross-chain transactions and chain-exclusive transactions.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.