Foundry Opens Vote on BIP-110 to Curb Ordinals
Foundry, the largest Bitcoin mining pool with 23.8% hashrate, is polling miners on BIP-110, a soft fork to limit non-monetary transactions like Ordinals. The controversial proposal faces opposition from Adam Back and Michael Saylor. Voting ends early August.
Quick Take
Foundry polls miners on BIP-110 soft fork targeting Ordinals.
Voting closes at block 961,632 in early August.
Adam Back and Michael Saylor oppose the proposal.
Foundry controls 23.8% of Bitcoin's total hashrate.
Market Impact Analysis
NeutralBIP-110 vote could lead to protocol changes, but market impact unclear until vote outcome.
Speculation Analysis
Key Takeaways
- Foundry, the largest Bitcoin mining pool with 23.8% hashrate, launched a miner vote on BIP-110 to limit non-monetary transactions like Ordinals.
- Voting closes at block 961,632, expected early August, and will determine the pool's official signaling stance.
- Adam Back and Michael Saylor oppose the soft fork, warning it could freeze funds or invalidate ordinary transactions.
- The outcome may set a precedent for mining pool influence on Bitcoin protocol governance.
What Happened
Foundry USA, commanding nearly a quarter of Bitcoin’s hashrate, has opened a poll among its mining clients on BIP-110, a controversial soft fork. The proposal seeks to sharply restrict data storage in transactions, taking direct aim at Ordinals and other non-monetary uses. Foundry circulated educational materials alongside the vote, framing it as a collaborative decision. The voting window ends at block 961,632, projected for early August. This move puts the largest mining pool at the center of one of Bitcoin’s most heated governance debates.
The Numbers
Foundry’s 23.8% dominance means its signaling could sway network consensus. The vote’s cutoff at block 961,632 translates to roughly six weeks of deliberation. BIP-110’s technical limits on witness data would directly curb inscription-based activity. Blockstream CEO Adam Back and Strategy’s Michael Saylor have voiced strong opposition, citing risks of frozen UTXOs and unintended transaction censorship. Their intervention adds significant weight to the no-vote camp.
Why It Happened
The Ordinals surge reignited Bitcoin’s block-size debate, with critics labeling such transactions as spam that clogs mempools and drives up fees. BIP-110 is the latest attempt to enforce a narrow interpretation of Bitcoin as electronic cash. Foundry’s poll reflects mounting pressure to take a public stance, especially as rival pools have already signaled on similar proposals. With its hashrate dominance, Foundry’s decision could tip the balance in a fragmented governance landscape.
Broader Impact
This vote tests the extent of mining pool influence over protocol evolution. A coordinated signal from Foundry would set a precedent, potentially accelerating or derailing future soft forks. For Ordinals and Bitcoin-native NFTs, a successful BIP-110 activation could force developers to migrate to Layer 2s or alternative chains, reshaping the ecosystem’s innovation frontier.
What to Watch Next
- Monitor miner vote results as block 961,632 nears; Foundry’s official signal will shape sentiment.
- Watch for additional endorsements or criticisms from core developers and other prominent figures.
- Track Ordinals-related token markets for volatility if BIP-110 gains momentum.
This article is for informational purposes only and does not constitute financial advice.
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