Wang Chun, co-founder of crypto mining pool F2Pool, has made statements drawing attention to discussions surrounding Bitcoin protocol updates.
Sharing an assessment via Platform X, Chun argued that changes to Bitcoin’s core protocol should not be advanced through “political compromises” or mandatory flat rate agreements.
Chun said it would be wrong to apply the “package bill” approach, frequently seen in American politics where various provisions are added to a single legislative package, to the Bitcoin development process. He argued that this approach leads to the forced acceptance of necessary but unpopular provisions, and that is why he opposed proposals BIP-110 and BIP-54.
Chun also addressed the technical issue known as “timewarp,” stating that it has been around for a long time but does not provide a significant advantage to Bitcoin miners. He noted that the vulnerability is virtually unusable because it is impossible to predict which miner will produce the next block, suggesting that the mechanism could be used to affect certain altcoin networks. Therefore, he argued that there was no immediate need to change the protocol.
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Chun also noted that the efficiency of transaction verification has increased significantly thanks to improvements to the libsecp256k1 library and hardware, and that a protocol-level update is not necessary in this area. He said that theoretical risks such as “confirmed transaction tampering” depend on SHA-256 double collisions breaking, and that if that were to happen, Bitcoin’s fundamental security structure would already collapse.
In light of all these considerations, Chun said much of the current debate does not provide sufficient justification for a change in protocol. According to the founder, only the problem of “repetitive transactions”, although limited, presents potential for improvement and stands out as one of the rare changes worth implementing.
*This does not constitute investment advice.
