Speaker: Yonatan Sompolinsky (Harvard)
Abstract: We tackle the problem of Miners Extracted Value (MEV), where a transaction sequencer extracts profit off users, by frontrunning pending transactions, sandwiching others, or carrying out any other form of ordering manipulations. Most transaction settlement services are designed such that, in each round, a single sequencer is granted full, unrestricted permission to sequence pending transactions. Accordingly, to undermine sequencer monopoly, we devise an auction that forces competition...
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