Bitcoin [BTC] developer releases Erlay; Relay protocol expected to half node’s bandwidth consumption

2019-5-28 21:00

Gleb Naumenko, a Bitcoin Developer, recently announced the release of Erlay, an efficient transaction relay protocol for Bitcoin, and made it available to the public for general use.

Naumenko’s announcement stated that the objective behind the relay protocol was to make transaction announcements more convenient by sending them directly to over a “small number of connections [only 8 outgoing ones], rather than announcing individual transactions to every peer”.

The announcement read,

“The set reconciliation protocol uses error correcting codes to communicate a set of transactions to a peer with an unknown but similar set using bandwidth only equal to the size of the difference and not the size of the sets themselves.”

The development is expected to save half of the bandwidth a particular node consumes, which would also increase network connectivity. It was also mentioned that if the outbound peer count was raised to 32, Erlay would save up to 75% of the overall bandwidth, in comparison to the present active protocol.

Gleb, who developed the protocol alongside Gregory Maxwell and Pieter Wuille, mentioned that the team was now currently waiting for feedback from the community to enter a broader discussion and write a Bitcoin Improvement Proposal [BIP] to further implement improving reference.

In the wake of the announcement, Adam Back, CEO and Co-founder of Blockstream, showed his interest in the project, and stated that Erlay’s “efficient peer-to-peer transaction relaying mini-sketch” was an intriguing aspect of Bitcoin [BTC] as the relay protocol would improve network scalability in the blockchain via lower communication overhead.

The post Bitcoin [BTC] developer releases Erlay; Relay protocol expected to half node’s bandwidth consumption appeared first on AMBCrypto.

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