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Execution Tickets - Proof-of-Stake / Economics - Ethereum Research

ethresear.ch · 6,385 words · saved by 1 readers

We begin by presenting the design in its most distilled form. The execution ticket mechanism can be succinctly described as: We decompose the slot into the beacon round and the execution round during which the beacon block and execution block are proposed respectively. Each of the two blocks has an associated attesting committee that casts votes used to determine the head of the chain. Buying tickets versus staking – Examining today’s consensus mechanism using the ticket framework, an existing validator effectively owns a perpetual ticket. They can be selected at any time to be a proposer for a given slot and they retain this right as long as they are in the validator set. With execution tickets, future block proposal rights must be explicitly purchased from the protocol; validators are not given any tickets by default. To put some hypothetical numbers on what validators today pay for the right to produce blocks, let’s do a bit of back-of-the-napkin math. These numbers are constructed

Execution Tickets - Economics - Ethereum Research Execution Tickets Proof-of-Stake Economics mev mikeneuder December 23, 2023, 1:54pm 1 upload_ca27eb47ec2360d4e2cb998c948e2c77 1002×1348 100 KB \cdot ^:alien: . Note that Justin presented this idea at the Columbia CryptoEconomics Workshop as Attester-Proposer Separation (APS); we are rebranding \cdot by justin (thought leader) & mike (scribe + diagrammer), in discussion with francesco (fork-choice vigilante) & barnabé (preconf skeptic). \cdot december 23 , 2023 \cdot Thanks Many thanks to Vitalik , Davide , Toni , Jacob , Dom , Dankrad , Jonah ,

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