The Disetan Pay Oxion Is a Very Unusual Type of Oxion

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The disetan pay oxion is a very, likea very unusual type of oxion that hasn't been studiedg oll that much. But the detail here is that when this auction plays out, let say there's ten bids for one point five million gas at some gas price,. Then the people that see that, they would that the that would lose the bid the auction, they can replace their transactions with a very small gas transaction in order to kind of cut their losses from participating in this auction....

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