Ripple Executive David Schwartz Responds to BIP 110 Supporters

Ripple's emeritus CTO David Schwartz engaged in a discussion with a user supporting BIP 110 on the X platform. Schwartz criticized the proposal's claim of 'fixing the old chain' and argued that this approach implies a rejection of the outcomes achieved in Bitcoin governance. The debate began when a user labeled the BLAKE2b move as an 'attack on BTC.' BLAKE2b refers to a hard fork that shifts Bitcoin's mining structure from SHA 256d to the BLAKE2b algorithm, with the network set to go live on September 1. BIP 110 supporter Loogart questioned why the attempt to establish an alternative chain is considered an attack. Schwartz pointed out that Loogart's phrase 'fixing the old chain' reflects the belief that the current Bitcoin chain is flawed. The Bitcoin Knots faction is preparing for a second distinct chain initiative following BIP 110. The new version will adopt BLAKE2b proof of work to avoid reliance on current Bitcoin miners. However, so far, no major exchange or wallet provider has announced support for this new structure. BIP 110 was a soft fork proposal that temporarily limited the use of Bitcoin block space for non-financial data.