Bell Curve EVM vs SVM Tradeoffs, Ethereum Alignment, and App Specific Sequencing | Alex Watts
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Nov 19, 2024 Alex Watts, Co-Founder and CEO of FastLane Labs, dives into the complexities of Miner Extractable Value (MEV) and application-specific sequencing. He discusses how the Ethereum Virtual Machine (EVM) compares to the Solana Virtual Machine (SVM), highlighting trade-offs in decentralization and efficiency. Alex also explores potential for application-specific sequencing on Solana and innovative solutions to mitigate centralization in Ethereum's Layer 2 landscape. It's a riveting look into the future of crypto technology and governance.
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Alex Watts's Crypto Journey
- Alex Watts transitioned to crypto after profiting from stablecoin arbitrage on Titan in 2020.
- He then addressed Polygon's spam issues by creating FastLane, a system allowing validators to earn MEV without modifying their client.
Game Theory vs. Compliance
- Game theory is important, but compliance concerns often override theoretical optimality.
- Validators, being asset managers, prioritize their stakeholders' interests and regulatory compliance.
MevBoost Exploit
- A clever individual exploited MevBoost, making $25 million by manipulating commit/reveal.
- This incident led to increasing the commit/reveal duration for security.