Etherium Mining - Is It a Time Balled Attack?

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

In etherium, people who have nothing to do with the attack could see their transactions revertedlike without any faulght of their own. So we can see why any kind of reork in a chain like etherium would have a much more destabilizing and harmful effect on usas than it would have bincon. And i always thought that you can sow basically time benet attax in that way as well. I mean, this is one reason why actually, we haven't seen yet very much apparent m v extraction by miners,. It's an extremely specialized activity m that right now is effectively out sourced to am a, to these front running bots, and ultimately goes to the benefit...

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