Bell Curve

Multiple Concurrent Proposers on Solana and Ethereum | Anatoly & Max

19 snips
Oct 29, 2024
Anatoly Yakovenko, co-founder of Solana, and Max Resnick, an Ethereum researcher, dive into the intriguing concept of Multiple Concurrent Proposers (MCP) in blockchain. They discuss how MCP can challenge the proposer monopoly in proof-of-stake systems, potentially enhancing efficiency and decentralization. The conversation also touches on the geographic distribution of proposers and trade-offs in blockchain design, ultimately posing the question: is Ethereum's biggest threat Solana or its own Layer 2 solutions?
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INSIGHT

Proposer Monopoly Harms Market Fairness

  • The proposer monopoly arises when one proposer controls inclusion and ordering within a slot, enabling rent extraction and censorship.
  • Breaking it into multiple concurrent proposers reduces extractive power and improves on-chain market fairness.
INSIGHT

Local Producers Beat Centralized Latency

  • Local block producers near information sources reduce latency to market-moving events and eliminate arbitrage windows to centralized exchanges.
  • Multiple concurrent producers ingest global events faster than a single centralized matching engine can.
INSIGHT

Multi-Proposer Drives Geographic Decentralization

  • In single-proposer systems proximity to other validators matters as much as proximity to events, favoring colocation hubs.
  • Multi-proposer architectures naturally incentivize geographic decentralization by valuing proximity to unique information sources.
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