Largest Bitcoin Mining Pool Opens Vote on Data-Limiting BIP-110 Proposal
Foundry, which controls nearly a quarter of Bitcoin's mining power, has launched a customer vote on BIP-110, a controversial soft fork that would restrict data storage in Bitcoin transactions.
Foundry Seeks Miner Input on Controversial Bitcoin Proposal
Foundry USA, the dominant force in Bitcoin mining, has initiated a voting process among its customer base to assess their position on BIP-110, a contentious soft fork proposal that would fundamentally reshape how data can be embedded within Bitcoin transactions. The company has provided mining clients access to vote through email-based mechanisms while distributing educational materials to facilitate informed participation. The voting window is scheduled to conclude at Bitcoin block 961,632, anticipated to occur during early August, allowing Foundry customers a defined period to signal their preference on the matter.
Why Foundry’s Position Carries Exceptional Weight
Foundry’s decision to directly survey its customer base carries exceptional significance within Bitcoin’s mining landscape. The mining pool currently controls approximately 23.8% of Bitcoin’s total network hash rate, as tracked by specialized hash rate data providers. This commanding market position ensures that Foundry’s stance on BIP-110—whether ultimately supporting, opposing, or remaining neutral—could serve as a crucial signal to the broader mining community and potentially influence the proposal’s trajectory toward activation or rejection.
The initiative also demonstrates that major mining operations are increasingly democratizing protocol-level decision-making by soliciting direct customer input rather than unilaterally determining technical governance matters. This approach reflects growing recognition that mining customers deserve representation in decisions affecting the network they collectively secure.
The Proposal and Its Critics
BIP-110 is a proposed soft fork specifically designed to restrict the quantity of data that can be recorded within Bitcoin transactions. The proposal’s primary objective is to limit non-monetary applications on the Bitcoin network, with particular focus on technologies such as Ordinals that consume block space without generating conventional transaction fees. Proponents argue that constraining data storage capacity would reinforce Bitcoin’s core identity as a monetary system while simultaneously enhancing network efficiency and optimizing limited block space for its fundamental purpose.
However, the proposal has attracted significant criticism from influential figures within the cryptocurrency sector. Blockstream’s CEO has cautioned that BIP-110 could potentially freeze or render user funds inaccessible, raising concerns about serious unintended consequences. MicroStrategy’s executive leadership, representing among the largest corporate Bitcoin holders, has similarly expressed concern that the proposal could invalidate ordinary transactions on the network, fundamentally compromising functionality and user trust.
These objections reveal an underlying philosophical tension within Bitcoin’s development community: should the network prioritize its role as a peer-to-peer monetary system, or should it accommodate broader use cases including digital artifacts and emerging applications? The BIP-110 debate exemplifies how Bitcoin continues to negotiate its purpose as the ecosystem evolves. This governance challenge facing Bitcoin resonates across the broader crypto landscape, demonstrating how major networks must balance competing interests and use cases as they mature.
Source: Foundry USA, via Cointelegraph. Not financial advice.