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Ethereum and most of the altcoin market has been largely on an uptrend in 2019, with many people in the industry speculating that the altcoin boom is right around the corner. To ensure Ethereum meets the scalability standards of other altcoins in the space, the research wing of the organization recently published a report talking about the burn relay registry of the Ethereum blockchain. The registry deals with decentralized transaction abstraction on the second layers of the world’s largest altcoin.
The introduction of the report said,
“For private applications on the blockchain. we need someone to pay for the gas that will eventually be refunded. We need a way for relayers to advertise their willingness to pay for a transaction. This needs to be resistant to spam. So a user should be able to select relayers and have high confidence that they will actually broadcast a transaction.”
According to the report, the desired properties for the implementation is target contract not needing to know about the relayer registry contract. Ethereum prides itself on being spam-free and the latest advertisement mechanism claims to spam-resistant.
The recent update works by passing every transaction processed by the relayer through the relayer registry contract. According to the official release,
“This contract sends the broadcast request to the target contract which sends the fee to the relayer and the remaining funds somewhere else. The registry contract then burns a set % of the fee and sends the rest back to the relayer. The registry contract tracks the amount of funds that has been burned by each relayer. The burn acts as an economic cost that every relayer needs to pay in order to relay transactions.”
The research report further elucidated on how it plans to overcome the persistent spam problem on the Ethereum network. The parameter chosen by the research was split into two: either by looking at the people who burnt a large amount of their own money, or by checking if they processed a lot of transactions from other users.
Ethereum was in the news recently after Vitalik Buterin spoke about methods to infuse a scalable data layer for analyzing and penalizing nefarious activities on the blockchain. Buterin stated that the aforementioned technique will be a key part of the much-awaited Ethereum 2.0.