The Existence of Lightning Increases the Available Emivy in the System

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Any protucle that involves dispute transactions which must be included within some time in the chain. This means anything involving lightning, the recent coin sop proposal, for bid coin for privacy. All of these mechanisms directly increase the amount of emivy in the system. If none of this happen, the money gets lost. And so the big danger in this is that the miner can just say, i wont i never saw these transactions, or, well, censore these transactions,. Which in the end means a chance for a miner to get bribed....

Today, I brought on Dan Robinson and Georgios Konstantopoulos, who are both research partners at Paradigm. Together, we explore the topic of MEV, or “Miner Extractable Value”.

Blockchains like Ethereum have this dirty little secret that, while in most regards they are very decentralized, the ordering of transactions within a single block is actually completely in the hands of a single miner. They can insert their own transactions, rearrange those of users, or even censor them completely.

MEV describes how much value a miner can extract from users and other miners by using these powers to their advantage.

If you’ve never looked into MEV before, I think you’ll be both shocked and fascinated by the complexity and sophistication of the war that’s raging inside Ethereum’s memory pool. Enjoy

Dan Robinson https://twitter.com/danrobinson

Georgios Konstantopoulos https://twitter.com/gakonst

Hasu https://twitter.com/hasufl

Flash Boys 2.0 (Daian et al) https://pdaian.com/flashboys2.pdf