The recent announcement by the Bitcoin Core developers of the Erlay protocol has caused a stir in the cryptocurrency space. As one of the most well-known cryptocurrencies, Bitcoin has always been the focus of attention for its technological development. What changes will the introduction of the Erlay protocol bring to the Bitcoin network? How is Bitcoin being further upgraded? This article will delve into this important topic.

As a giant in the cryptocurrency space, Bitcoin's technological development has been in a state of constant evolution. The introduction of the Erlay protocol marks a new upgrade for the Bitcoin network. The introduction of the Erlay protocol aims to improve the transmission efficiency of the Bitcoin network and reduce the cost of exchanging information between network nodes, thereby improving the overall performance of the network. This move is considered a major milestone in the history of Bitcoin development and will lay a solid foundation for the future development of Bitcoin.

The core advantage of the Erlay protocol lies in its more efficient transaction transmission method. In the traditional Bitcoin network, each node needs to broadcast transaction information to the entire network, which is inefficient and costly. The Erlay protocol uses a more intelligent transmission method, only transmitting the most critical information, greatly reducing the burden of network transmission and improving overall efficiency. This innovative technical solution will greatly improve the scalability and security of the Bitcoin network, laying a solid foundation for future development.

In addition to improving network efficiency, the Erlay protocol also has better privacy protection features. In the traditional Bitcoin network, there is a certain risk of privacy leakage due to the broadcast transmission of information. The Erlay protocol reduces the possibility of privacy leakage by streamlining the transmission of information, providing users with a safer trading environment. Privacy protection has always been an important issue in the field of cryptocurrency. The introduction of the Erlay protocol will solve this problem to a certain extent and bring users a better trading experience.

With the introduction of the Bitcoin Erlay protocol, the Bitcoin network is moving towards a new stage of development. This technological innovation will open a new door for the future development of Bitcoin and accelerate the popularization and application of Bitcoin worldwide. As the first blockchain digital currency, Bitcoin's technological upgrades have always attracted the hearts of digital currency enthusiasts around the world. The introduction of the Erlay protocol will undoubtedly inject new vitality into the Bitcoin network and bring more possibilities to the entire cryptocurrency field.

In general, the introduction of the Bitcoin Erlay protocol marks the further upgrade of the Bitcoin network and paints a better blueprint for the future development of Bitcoin. With the continuous innovation and development of Bitcoin technology, we have reason to believe that Bitcoin will continue to lead the development trend in the field of cryptocurrency and become an important part of the global digital financial system. Let us look forward to the future of Bitcoin together. We believe that the Erlay protocol will bring more surprises and opportunities to Bitcoin and open a new chapter in digital currency. May the future of Bitcoin be even more brilliant!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Pieter Wuille, one of Bitcoin's most active core developers, has formally proposed a new Bitcoin Improvement Proposal (BIP) called Erlay, which will help the Bitcoin network grow further and protect it from multiple attacks.

According to Babbitt's previous report, Pieter Wuille, one of the Bitcoin code maintainers, Gregory Maxwell, an important Bitcoin contributor, and University of British Columbia scholars Gleb Naumenko, Sasha Fedorova, and Ivan Beschastnikh jointly proposed the Erlay protocol. Now that Pieter Wuille has formally submitted it as a BIP, Erlay is one step closer to becoming part of Bitcoin.

What problem does Erlay solve? Why is it so important?

Bitcoin works on the principle of distributed ledger technology (DLT), which is why the security of the network depends on the connectivity between these nodes. So far, there are 9,277 active Bitcoin nodes in operation, but according to research, the connectivity of the entire network is very low.

"
@tomatodread and I have completed a BIP draft for efficient transaction relay primitives in the Bitcoin P2P protocol - Erlay, a complete proposal for efficient transaction relay, which can be seen as a set of client strategies around using these additional features - Pieter
Wuille"

The paper published by the Bitcoin Core developer highlights two major problems with the Bitcoin network, which the proposed BIP protocol aims to solve:

The current connectivity of the Bitcoin network is too low to achieve optimal security.

Increasing connectivity will greatly increase the bandwidth used by the transaction propagation protocol, making the cost of operating a Bitcoin node prohibitive.

In short, Erlay will not only make the Bitcoin network more secure, but also reduce bandwidth consumption, making Bitcoin nodes cheaper to run.

Bitcoin nodes contain the complete transaction history of the blockchain network and play a vital role in ensuring the decentralization and security of the network. However, there is no financial incentive to run a node, and people only run it for the love of DLT. In fact, running a Bitcoin node is a fairly complex and expensive task, which is why many people have proposed changes to make running a Bitcoin node more feasible in terms of financial cost.

Erlay protocol will reduce bandwidth usage of nodes by 40%

Core developers noticed that currently, half of the total bandwidth required to operate a node is used to broadcast transactions to the network. The bandwidth consumption of existing protocols increases linearly, which means that as the number of network nodes increases, the bandwidth consumption also increases.

The Erlay protocol promises to solve this problem by reducing the bandwidth consumption of nodes by 40% based on the current connectivity. It will also improve the connection between nodes so that the bandwidth consumption remains the same. Therefore, the Erlay protocol will not only make the Bitcoin network more secure and better connected, but also ensure that it is less complex and more cost-effective to run a Bitcoin node without any incentives.