Grug Capital – Grug (Finally) Teaches Us MEV (S6E12)
Flirting with Models
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How Ethereum Works
Grug: I want to start with the most basic question which is at a high level can you explain how the Ethereum blockchain works? Grug: Yeah, absolutely. It's probably a pretty in-depth topic but I'll try to give a good overview and one that appropriately sets the stage for diving into more MEV specific discussions. So when someone submits a transaction to the network it's also not instantly included in a block. There's sort of a gas auction that's occurring here and new blocks are created every 12 seconds as well. While transactions sit in the Mempool anyone can see it including searchers who are sort of an actor in this MEV ecosystem.
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