The new local address based local discovery mechanism is technically
superior to the old broadcast-based one. In fact, the old algorithm
can technically make things worse by e.g. sending broadcasts over the
VPN itself and then selecting the VPN address as the node's UDP
address. This cannot happen with the new mechanism.
Note that this means old nodes that don't send their local addresses in
ADD_EDGE messages can't be discovered, because there is no address to
send discovery packets to. Old nodes can still discover new nodes by
sending them broadcasts, though.
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