Foundry lets miners vote on Bitcoin proposal
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- Foundry asked its Bitcoin mining clients to vote on BIP-110.
- The mining pool controls about one-third of Bitcoin's global hashrate.
- The vote will decide whether Foundry signals support for the proposal.
Foundry asked its mining clients to vote on whether it should support Bitcoin Improvement Proposal 110 (BIP-110).
Foundry controls about 33% of Bitcoin's global hashrate, making its decision important for the proposal's chances.
“As miners, it's important for you to have a voice and participate in the governance of the network,” Foundry said in its announcement.
BIP-110 would temporarily reduce the amount of non-financial data allowed in Bitcoin (CRYPTO:BTC) transactions for one year if enough support is secured.
Foundry will only signal support if more than 51% of participating hashrate votes in favour, while miners who do not vote will count as voting against the proposal.
Supporters say BIP-110 would reduce blockchain spam and keep Bitcoin focused on payments.
Critics, including Michael Saylor and Adam Back, argue the proposal could reject valid transactions and create an unnecessary network split.
At the time of reporting, Bitcoin price was $65,949.88.
