Author: Gleb Naumenko 2019-05-28 00:11:50
Published on: 2019-05-28T00:11:50+00:00
Gleb Naumenko, along with Gregory Maxwell and Pieter Wuille, has released a paper on Erlay, an efficient transaction relay protocol for Bitcoin. The protocol aims to save bandwidth by sending announcements directly over only eight outgoing connections instead of broadcasting them to every peer. Relay is achieved by running a set reconciliation protocol that uses error correcting codes to communicate a set of transactions to a similar peer, reducing bandwidth usage. The proposal saves up to 75% overall bandwidth compared to the current protocol if outbound peer count is increased to 32. The work uses Minisketch, a library for set reconciliation. The next step is to receive feedback, have broader discussions, and write a BIP while improving the reference implementation. The protocol is a result of work by Naumenko, Maxwell, Wuille, Ivan Beschastnikh, and Sasha Fedorova at UBC, with contributions from Tim Ruffing and Ben Woosley and support from Blockstream.
Updated on: 2023-05-20T20:35:51.319905+00:00