Author: Rusty Russell 2016-05-10 05:28:19
Published on: 2016-05-10T05:28:19+00:00
Bitcoin developers are working on improving the network’s speed and efficiency by developing a new compact block relay system that will send transactions in packets that occupy less space than before. The move could make Bitcoin nodes’ data more manageable, reducing their bandwidth requirements and speeding up transmission between them. Under the proposed system, instead of sending all transaction details to other nodes in the network, miners would only send a unique identifier for each transaction - called a “short ID” - along with a list of excluded transactions. The receiving node would then use the short IDs to request the full transaction information from the sender if it didn’t already have it.
Updated on: 2023-06-11T04:50:05.555790+00:00