Cryptocurrency

02/06/19 04:00 UTC-4

BTC developers offer new protocol to make network more efficient and secure

The developers have announced their work on a new protocol for the Bitcoin network, which will simplify the currently used transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
relay method. If implemented, this will significantly reduce the use of bandwidth and improve protection against temporary attacks.

 

Erlay protocol

The Erlay protocol, as it is also called, was recently announced on the developer mailing list; it is the result of the work of Gleb Naumenko, Gregory Maxwell, Peter Will, Sasha Fedorova, and Ivan Beschastnykh.

Interesting in the section: Hashing24: overview of the Cloud-Mining Service

From the announcement: "The basic idea is that instead of announcing each transaction to each nodeNode
– is any computer that is connected to the Blockchain network. The etymology of the term: from the Latin "nodus", which translates as "node". Nodes are an important tool for creating new blocks in blockchain network. Details
, the announcements are sent only directly over a small number of connections (only 8 outgoing). Further retransaction is achieved by periodically starting a negotiation set protocol for each connection between sets of hidden announcements in both directions."

"Results: we save half of the bandwidth consumed by the node, increase connectivity almost for free, and resist time attacks better."

"If the number of outbound ipeers has been increased to 32, Erlay saves about 75% of the total bandwidth compared to the current protocol."

Developers are working on a new protocol for an efficient and secure Bitcoin network. Some users are already positive about this proposal, especially those who use full nodes - Jameson Lopp’s Tweet.

Editor: Yuliya Soroka

See also: "EOS cryptocurrency is now available on Coinbase.com and in mobile applications"

#BTC #protocol #cryptocurrency #Erlay #Bitcoin

Comments

Similar

31/05/19 09:56 UTC-4

Unplanned Cosmos cryptocurrency hard fork: vulnerability exclusion

​On May 31, an unscheduled hard fork took place in the Cosmos cryptocurrency network. It happened due to the discovery of the vulnerability of the coin’s blockchain network. Cryptocurrency developers, Tendermint, reported on the successful elimination of the error.

Cryptocurrency
Exchanges
Mining
ICO, ІРО, STO
Hypes, funds, fiat money
Other