New Erlay Transaction Relay Protocol For Bitcoin Launches By BTC Developer Gleb Naumenko
Naumenko Launches Erlay – Relay Protocol That Will Slash A Node’s Normal Bandwidth Consumption
A more efficient Bitcoin-oriented transaction relay protocol is now available for general public use, thanks to Gleb Naumenko. Glen, a Bitcoin Developer, released the relay protocol named Erlay and effectively allowed the public to use it.
He said that the purpose of releasing it was to speed up the rate of processing transactions and essentially allow one to complete more transactions quickly. According to him, the new protocol is configured to use unique error correcting codes and relay information on a particular set of transactions to a peer. The receiving peer, with the unknown, yet similar set, will only use the bandwidth that’s equivalent to the size of the difference between them.
This new innovation will suitably slash the normal bandwidth one required by a particular node by half. It will also enhance network connectivity and effectively allow speedy processing of a transaction.
According to the developer, if they were to increase the outgoing peer count to 32, the new relay protocol would reduce the overall bandwidth by as much as 75% of the current active protocol.
Erlay Is A Product Of A 3-Member Development Team
Gleb Naumenko isn’t an ordinary figure in the world of Bitcoin development. This new protocol is a project he developed together with Gregory Maxwell and Pieter Wuille. The trio is now waiting for feedback from the Bitcoin community before embarking on yet another project of writing a BIP – Bitcoin Improvement Proposal. They are looking to write it and help in its implementation.
One of the persons who’ve praised this new relay protocol is the current CEO and co-creator of Blockstream, Adam Back. Mr. Back spoke highly of Erlay, especially its power in making the normal P2P transactions a lot efficient. According to him, the sketch alone is “intriguing” and will potentially help the relay protocol to enhance scalability in the Blockchain network.