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13 posts tagged with "flashbots"

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· One min read
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A competitive, geographically diverse, and transparent builder ecosystem is critical for the health of Ethereum. Flashbots has open sourced our leading builder in order to help this ecosystem grow further.

Competition among builders maximizes validators rewards and improves censorship resistance for users. With Suave, we envision an ecosystem of builders collaboratively building the most profitable block, each contributing a part of a block instead of one entity building the entire block. Open sourcing our builder will accelerate this future and promote competition in the market today.

We encourage all teams to develop their builders in the open, and for the community to only trust builders who act consistent with the norms of transparency and free software.

Join us in ensuring that Ethereum has a competitive ecosystem of builders and a healthy MEV ecosystem.

· 6 min read
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This post is adapted from Phil Daian’s talk on Oct 14, 2022 at Devcon VI in Bogota, Colombia. A transcript of the talk is available here.

Tl;dr: Flashbots exists to fight the centralizing impacts of MEV by producing open access and open source tools and lead the field of MEV research. We believe in a censorship resistant Ethereum and the way to protect it is through true decentralization and geographic diversity. In order to truly mitigate the negative externalities of MEV and maximize welfare, we need new tools that are built on the principles of privacy and decentralization. Flashbots is introducing SUAVE - the Single Unifying Auction for Value Expression, which will enable programmable privacy and fully decentralized block-building with maximal competition and geographic diversity. Please join us in building SUAVE to support the decentralized future. We want to hear from you, and we want to build with you!

· 12 min read
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Tl;dr This post explores the alarming potential for exclusive order flow to render the builder market uncompetitive. A lack of competition in the builder market threatens to cause rent extraction, poor user experience, and entrenchment of builders with undue influence over network incentives. While cause for concern, the negative externalities of exclusive order flow can be mitigated or wholly avoided as presented in a series of articles, of which this article is the first.

· 12 min read
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Central to the security of Ethereum is that every miner, and soon validator, can produce the most profitable block possible. Why is this? Why has Flashbots made it a goal to democratize access to the most profitable blocks? How are we doing so? This blog post answers these questions and more.

· 6 min read
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The beating heart of every blockchain is how space is allocated within a block. In less than 24 hours, Ethereum will undergo a historic change to how blockspace is allocated as transaction inclusion rules drastically change with the activation of EIP-1559. However, EIP-1559 does not affect miners’ ability to reorder, insert, or censor transactions, and as such it largely does not have an impact on MEV (Maximal Extractable Value).

· 8 min read
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There has been a lot of discussion in the Ethereum community recently about chain-reorgs-as-a-service, and how it relates to MEV, the ETH2 merge, and other important ecosystem developments. In this post, we will provide a high-level overview of why Flashbots does not support reorg games, why we believe reorg games are a net-negative for all actors in the space (including miners!), and how the unique nature of the Flashbots organization is set up to respond to this and future political and technical challenges.

· 14 min read
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We took the first deep look at MEV and released our findings through MEV-Explore, a public dashboard and live MEV transactions explorer. After scraping the Ethereum blockchain starting from the first block of 2020, we’ve classified more than 1.3M MEV transactions and found a total of at least $314M worth of Extracted MEV since Jan 1st 2020, as well as $4.5M wasted gas fees on failed MEV transactions, equivalent to 4,500 Ethereum blocks of wasted blockspace.

· One min read

Flashbots is a research and development organization formed to mitigate the negative externalities and existential risks posed by miner-extractable value (MEV) to smart-contract blockchains. We propose a permissionless, transparent, and fair ecosystem for MEV extraction to preserve the ideals of Ethereum. In this article, we discuss the details of the Flashbots organization and the initial projects on our research roadmap, MEV-Inspect and MEV-Geth.

· 9 min read
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Flashbots is a research and development organization formed to mitigate the negative externalities and existential risks posed by miner-extractable value (MEV) to smart-contract blockchains. We propose a permissionless, transparent, and fair ecosystem for MEV extraction to reinforce the Ethereum ideals.