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Execution Consensus Separation - Economics - Ethereum Research

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Current work on the “Scourge” section 21 of the Ethereum roadmap has been siloed. People work on individual problems and sometimes lose the broader scope of what we are ultimately trying to achieve. ePBS 6, Inclusion Lists 8, MEV Burn 3, Distributed Block Building 26, and Application-layer MEV minimization 21, are examples of ideas that require censorship resistance and control over ordering, but we haven’t yet addressed the pre-requisites. Solving these allows us to kill 5 birds with 1 stone. But to do this we need to think from first principles and work on the underlying root causes rather than tinkering with a thin veneer on top of the protocol. Solving MEV at the protocol level requires buy in from all three levels of the chain: We cannot get anywhere without vastly improved censorship resistance at the consensus layer. This is what allows us to hold auctions and prevent censorship of competing bids. The root cause of Ethereum’s weak censorship resistance is the fact that only a si

Execution Consensus Separation - Economics - Ethereum Research Execution Consensus Separation Economics mev MaxResnick July 3, 2024, 7:09pm 1 Execution Consensus Separation 1024×1024 228 KB MEV is fundamentally about control. The proposer has control of which transactions make it into blocks and which order they appear in. In other words MEV is all about censorship and reordering. All of the goals on the Ethereum roadmap related to MEV are therefore impossible without fixing these things. The good news is that fixing these things is possible, the bad news is that the solution requires us to wo

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