By CCN: Bitcoin core dev Gregory Maxwell left Blockstream last January to focus on “deep protocol work,” and now he and a few other developers have surfaced with something called “Erlay.” So That’s What Greg Maxwell Has Been up To Erlay was announced over the last 24 hours in a post to the Bitcoin Core development mailing list by University of British Columbia’s Gleb Naumenko. Naumenko described it in the following terms: “The main idea is that instead of announcing every transaction to every peer, announcements are only sent directly over a small number of connections (only 8 outgoing ones).

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