During discussions and reviews of BIP324 (p2p transport encryption), a more efficient AEAD was proposed.
The main difference is how the construct implements re-keying. Since both, the original and the new BIP324 AEAD will not repeat the key handshake over time (no re-keying on the ECDH level), a simpler form of direct re-keying has been proposed.
The new AEAD uses a ChaCha20 stream cipher where byte 4064 till byte 4096 (last 32 bytes in a 4096 window) are used to re-key the same instance. Re-keying in that context means re-setting the ChaCha20 key (thus setting the constant “expand 32-byte k” again, resetting the counter) to the last 32bytes of the current 4096 chunk. We never encrypt more than 4096bytes with the same key. On every re-key, we increase the IV by 1 (a sequence number). This should allow forward secrecy in the same way as the old (and slightly cumbersome) rekeying approach.
The AEAD is currently only used in tests. The serializer and deserializer for the V2 transport are in #23233.
BIP324 proposal can be found here: https://gist.github.com/dhruv/5b1275751bc98f3b64bcafce7876b489