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Primer: An Introduction to Block Proposals and MEV-boost Processing

2022-11-23 19:52:28Golden Finance



The etheric lane two basis:Blocks are proposed and MEV-Boost

What is a block to?什么是 MEV-Boost,Why is it so important to the etheric fang today?Why do we need long-term solutions,How about these solutions and the?

The etheric fang is a distributed computing platform,Is made up of thousands of computer(节点)组成的网络.它使用 PoS Consensus mechanism to coordinate,In order to maintain the etheric fang virtual machine(EVM)的同步.EVM Is a Shared computing platform,And the block chain is its history,ETH Is it the source of life.

PoS 这个话题很大,你需要知道的是:

  • Block is in EVM Performed in a bundle deal

  • The user can send for processing trade to trade in the pool

  • 在每个 slot,Network will be randomly selected to a verifier become blocks


PoS The working principle of the protocol layer is simple:The proposal will build your own block.The vast majority of it is enough for the proposed option trading down the list of pending transactions,Until their block to be traded to fill.……But some people who proposed to make better decisions,Also can earn high profits.

MEV Refers to the maximum extraction of value (Maximum Extractable Value),It represents the can have special information from a system、Access rights or privileges to extract the general principles of the monetary value.(译者注:MEV Also known as the miners can extract value,Refer to the verifier in the merged has been widely used in the packaging trading or sort exchange receives a lot of value.)在以太坊上,Block builder controls the vast majority of MEV.

举个简单的例子,假设 Alice 想要出售 100,000 ETH 而 Bob 想要购买 1 ETH.Alice The order is very large,You can even affect ETH 的价格.Rather than on Alice 订单之后,If the build will be Bob The order in the Alice 之前,那么 Bob Would buy fewer ETH.

Sophisticated block builders can do lots of things in order and make money:

  • 从 Bob That obtain higher tips to perform his first deal

  • 在处理 Alice Trading before,Create and process a sale ETH 的交易

  • 在之后 ETH When low prices to create and handle a repurchase more ETH 的交易

对于验证者来说,Good at building blocks is profitable,A big incentive for them.When the more they can understand the trading operations(And the more good at access privacy order flow),The more you earn more value from their pledge.But the problem is out in the:If you don't control the situation,MEV Can let the etheric fang tend to be more centralized.

The problem is this influence will, over time, more and more serious.This is the essence of the compound interest —— 世界第八奇迹.(译者注:据闻,爱因斯坦曾说:“复利是世界第八奇迹,了解它的人可从中获利,不明白的人将付出代价”.)如果任其发展,So most capable block builders will capture more and more ETH,Eventually even the etheric fang.

In order to further explore the importance of decentralized,Push the reader can read the list of the second:,Now we come to a brief look at.

可以说,Credible neutrality from the decentralized,而 ETH Value comes from a credible neutrality.

幸运的是,早在 2020 年 @thegostep 和 Flashbots Foresaw this problem and set about to build.Even if the merger upgrade is complete and the etheric fang to PoS 之前,They also have a temporary solution in running(And prepare to complete solution).

注意:Briefly the etheric fang nodes under the said works.A node is a computer,It will run executive clients(管理 EVM)和共识层客户端(管理 PoS)两个软件.

MEV-Boost Is another node software,It can let the node from the relay from the block.It could have been an automated build blocks,You can also view the block head,And from a professional builder there to get the block.……Builders to be preferred packaging will also pay a certain cost.

思考一下上面的例子,Assuming that block builders know Alice Will affect the market,He could calculate before and after sale and repurchase transaction ETH 的差价,Which can lock the extra 50 个 ETH.In order to be preferred packaging,Builder may be willing to offer to 49 ETH,Because he still can lock in a profit.

MEV-Boost System aims to build blocks of difficult、知识/资本/Experience with financial incentives proposed block separation.When a proposal in a slot When is selected in the proposed block,Only by selecting the highest bidder block,He can share to MEV 提供的回报.

MEV-Boost Is a very good product,It is a big step in the decentralized etheric lane road,But it is not perfect.In order to let readers understand why do you say that,We need to study a little bit about the MEV-Boost 的工作过程(But not too deep).

首先,We must know the three roles:

  • 构建者,负责为每个 Slot Manufacturing is perhaps the most profitable block

  • 中继,Responsible for intermediary

  • 提议者,The etheric workshop is responsible for the proposed block verifier

MEV-Boost The problem is that it relay,Not only the builder need to trust relay,To also want to.Builders have to believe in relay before the proposal is to pay the cost of builders,Will keep its block foreign invisible.To must be in the case of are not allowed to view the transaction,Believe that the relay has confirmed the effectiveness of the block and offer.这非常重要,Because the invalid block will cause to be confiscated.

幸运的是,We have a solution,The following will discuss two.但在此之前,I want to take the time to let the reader to know,虽然 MEV-Boost 并不完美,But it is a huge leap forward.有了 MEV-Boost,Using plug and play(plug-and-play)Equipment of nodes run(Just like my own use @Rocket_Pool)Have the experience MEV 收益了.

The first solution is to MEV-Boost The concept of writing in the etheric fang core agreement.This will eliminate the network demand for relay,Also let us can be in the form of cryptography verify everything,Without the need for early leak block information.We called the idea of writing agreement to-构建者分离(Enshrined Proposer-Builder Separation).

第二个方法是利用 @sreeramkannan Put forward new ideas about the etheric fang characteristics,将 MEV-Boost Trusted components shift the etheric lane support to trust system.Here also can read reference links:

The two solutions need to MEV-Boost The model to do some changes.最重要的是,MEV-Boost May make the builder review the block(无论出于什么原因).幸运的是,There are many other good idea can be a solution.

但是,Don't think too far away,We have just experienced merger.在我们从 MEV-Boost 继续前进之前,还有很多东西需要构建.

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