BIP-110 dies with a whimper, CLARITY vote punted: Hodler’s Digest, Aug. 9

BIP-110, a proposal aimed at removing non-financial transactions from Bitcoin, has failed to gain traction. Despite initial support, the proposal split into a minority chain and mined only two blocks before stalling. The difficulty of mining on the new chain posed significant challenges, and supporters saw it as a threat to Bitcoin's neutral rules.

CLARITY, a different proposal, will get a Senate vote in September, but there is uncertainty about its outcome. Crypto lobbyists, including Senator Tim Scott and Cynthia Lummis, are working to secure the necessary 60 votes for the legislation. Meanwhile, Bitcoin security group Bitcoin Red Team discovered numerous issues in the Bitcoin ecosystem, with 1 critical exploit found per hour per person.

The recent Coldcard hardware wallet hack resulted in over $100 million in thefts and has raised concerns about the safety of various wallets. Additionally, Ethereum researchers propose cutting validator rewards as the percentage of staked ETH reaches 50%, but this has faced opposition from DeFi protocols. Bitcoin ETFs saw strong inflows, with $853.54 million in the week, outpacing July's $428.5 million.

The top three altcoin winners were Pump.fun (PUMP) with a 27.6% gain, LayerZero (ZRO) with 17.6%, and Curve DAO (CRV) with 16.2%. Conversely, Injective (INJ) dropped 15.1%, Canton (CC) fell 13.8%, and Cronos (CRO) declined 13.7%.