flâneur

More pictures about proposers and builders — The price of agency

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The protocol had aims, wanted to achieve lots. But first, it had to recruit disciples who would execute its vision. The protocol created rights and assigned them to earthly entities, such that these “validators” could propose blocks and attest to them. In this piece, we are not concerned with attesting (for now), and we’ll narrow our attention to proposing rights. The proposing rights allow a validator, once selected, to create and propose a block. The block contains both consensus data (e.g., attestations), as well as an execution payload (a list of user transactions). When the validator receives the proposing right, it receives implicitly the right to decide the contents of both attributes, consensus data and execution payload. Validators soon figured out that the ability to decide on the contents of the execution payload had value. They could remain the proposers, but create building rights to be allocated to builders, who would offer them a well-sequenced payload against payment. T

In the beginning, there was nothing. Then a protocol appeared. The protocol had aims, wanted to achieve lots. But first, it had to recruit disciples who would execute its vision. The protocol created rights and assigned them to earthly entities, such that these “validators” could propose blocks and attest to them. In this piece, we are not concerned with attesting (for now), and we’ll narrow our attention to proposing rights. Thicc arrow indicates that proposing rights cover two distinct rights: The right to propose the consensus data block ("beacon block") and the right to propose the executi

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