Some of the key aspects of crypto-assets that hold substantial importance are based on adoption, network security and overall technological developments in their respective blockchains. The competitive nature of this specific niche industry motivates top cryptos to be omnipresent in the market and maintain a higher price through the market’s inevitable volatility.
Bitcoin [BTC], which has one of most cohesive and dedicated development teams, recently announced the release of Erlay.
Gleb Naumenko, the man who alongside Gregory Maxwell and Pieter Wuille developed the protocol, stated that Erlay was expected to save half of the bandwidth a particular node usually consumes in the network and save up to 75% of the overall bandwidth, when compared to the currently active protocol.
Jameson Lopp, CTO of CasaHODL, recently spoke about the impact of Erlay and claimed that it was one of the most “prevalent improvements” that the network had recorded over the years on the Bitcoin network. The current development will make things a little better in terms of performance and efficiency, without people noticing the change. He suggested that users will witness a “lot more positive impact,” because of the bandwidth reduction.
Jameson Lopp however, mentioned that there was a minor “trade-off” which was attached to the development. He suggested that Erlay would conduct slower propagation across the network, but the gains achieved over higher efficiency and the total amount of bandwidth used shadowed the minor drawback.
“The protocol was massively redundant and robust, and you are very likely to get you message out to the entire network very quickly but you would also be sending a lot of back and forth redundant information in the process.”
Previously, Adam Back, Co-founder of Blockstream, had also exhibited interest towards Erlay and stated that it was an intriguing aspect of Bitcoin as the relay protocol would improve network scalability in the blockchain.