Cryptocurrency

03/06/19 05:36 UTC-4

Erlay protocol appeared which will increase Bitcoin throughput

Today, on June 3rd, information appeared on the new protocol for expanding the bandwidth of Bitcoin. As it became known, the protocol was developed by well-known programmers from the Bitcoin Core team.

 

Bitcoin bandwidth: increase

Famous programmers from the Bitcoin Core team presented a new protocol that could increase the bandwidth of the first cryptocurrency, Bitcoin. Gregory Maxwell and Gleb Naumenko showed a new app on May 28th. It was sent exclusively to users of Bitcoin Core applications. The public has become aware of new features in the Bitcoin network only today, the 3rd of June.

Interesting in the section: Bitcoin, as a decentralized payment system

According to the information, the new set negotiation protocol uses error correction codes to transmit a set of transactions to a peer with an unknown but similar set, using a bandwidth equal only to the "difference" factor, and not the size of the sets themselves. According to the developers, in the future, the Erlay application will help increase the throughput of the first crypto by more than 75%, while saving energy.

"According to the information, the new set negotiation protocol uses error correction codes to transmit a set of transactions to a peer with an unknown but similar set, using a bandwidth equal only to the "difference" factor, and not the size of the sets themselves. According to the developers, in the future, the Erlay application will help increase the throughput of the first crypto by more than 75%, while saving energy." – from the message to users.

The Erlay protocol will increase the throughput of Bitcoin. Recall that a few days ago, Bitcoin showed high volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
, the rate soared to 9000 dollars and plummeted.

Editor: Jerg Wos

See also: "BTC developers offer new protocol to make network more efficient and secure"

#bitcoin #bandwidth #Erlay #BitcoinCore #cryptocurrency #application

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