A method and system for optimizing backup and backup discovery operations using change based metadata tracking (CBMT). Specifically, the disclosed method and system entail eliminating the storage and subsequent transmission of redundant asset metadata information to a central coordination point during backup discovery operations, which may strain central coordination point resources, as well as client device resources. Accordingly, rather than re-sharing the same asset metadata information every time a backup discovery initiates, the client device tracks, maintains, and transmits only changes in asset metadata, thereby conserving resource utilization.