Where is Wally ( that is, the domain auth code) ?

Two day ago I received an email from eNom with an update for the reseller API.

Guess what? The new function implements something in the line of syncing the auth code with the registry.

Now this triggers something in my mind. If the auth key needs to be check by the gaining registrar to whom does it turns for confirmation of the EPP key? The registry? The losing registrar? What if their values are not in sync?

Again this whole EPP key process seems awkward. Again it looks far more simpler if it was the registrant the one with the key in hand ( and store it at registry level ).

Besides keeping things simpler it would prevent rogue registrars like RegisterFly to cause havoc in domain name industry.