Bankless

198 - SUAVE Explained with Phil Daian & Andrew Miller

13 snips
Nov 27, 2023
Guest
Andrew Miller
Guest
Phil Daian
Phil Daian, co-founder of Flashbots and author of the groundbreaking 'Flash Boys 2.0,' joins Andrew Miller, a privacy tech expert, to explore the Suave platform. They discuss how Suave aims to combat Miner Extractable Value (MEV) and its centralization threats in Ethereum. The conversation covers critical advancements in secure computation, including trusted execution environments, and their implications for decentralization. They envision a more equitable future for blockchain and highlight the importance of user privacy and innovative strategies in decentralized finance.
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INSIGHT

MEV Threat

  • Phil Daian's research revealed a flaw in the "blockchain as bulletin board" abstraction.
  • Rational actors exploiting ordering and censorship can disrupt the system.
INSIGHT

MEV Power Asymmetry

  • Infrastructure providers have discretion in transaction ordering, insertion, and censorship.
  • This power asymmetry concentrates power among sophisticated players like hedge funds.
INSIGHT

MEV Boost Explained

  • MEV Boost separates block optimization from block proposal.
  • It allows less sophisticated validators to participate and profit competitively.
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