Wang Chun, co-founder of the crypto mining pool F2Pool, made statements drawing consideration to the discussions surrounding Bitcoin protocol updates.
Sharing an evaluation through the X platform, Chun argued that modifications to Bitcoin’s core protocol shouldn’t be superior by means of “political compromises” or obligatory package deal offers.
Chun said that it will be incorrect to use the “package deal invoice” strategy, incessantly seen in US politics the place numerous provisions are added to a single legislative package deal, to the Bitcoin growth course of. He argued that this strategy results in the forceful acceptance of needed however unpopular provisions, and due to this fact he opposed proposals BIP-110 and BIP-54.
Chun additionally addressed the technical concern generally known as “timewarp,” stating that it has existed for a very long time however doesn’t present a big benefit for Bitcoin miners. He famous that the vulnerability is virtually unusable as a result of it’s not possible to foretell which miner will produce the subsequent block, suggesting that the mechanism might be used to have an effect on sure altcoin networks. Subsequently, he argued that there’s no rapid want for a protocol change.
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Chun additionally famous that transaction verification effectivity has considerably elevated due to each enhancements within the libsecp256k1 library and {hardware} enhancements, and {that a} protocol-level replace isn’t wanted on this space. He said that theoretical dangers resembling “confirmed transaction forgery” rely on breaking double SHA-256 collisions, and that if this have been to occur, Bitcoin’s basic safety construction would already collapse.
In mild of all these issues, Chun said that a lot of the present debate doesn’t present ample justification for a protocol change. In line with the founder, solely the “repetitive transactions” concern, albeit restricted, has the potential for enchancment and stands out as one of many few modifications value implementing.
*This isn’t funding recommendation.
