New Progress in Ethereum Block Construction Research: Solutions for Multi-Party Participation and MEV Issues

Recently, the Ethereum market has shown a volatile trend, with prices slightly declining and trading volume decreasing. The RSI indicator suggests that Ether may be in an oversold state, indicating that the market may adjust.

On August 7th, Ethereum co-founder Vitalik published a research summary on social media regarding Ethereum block construction. He pointed out that there is a general consensus in the industry that transactions contributed by multiple participants must be included in the block, which is a good solution. However, there is still controversy over how to avoid the "last action hero" problem. Vitalik believes that the topic of block construction is approaching a breakthrough. Additionally, he mentioned a new design called Braid.

Related Concept Analysis

Block construction

Block construction is the process of forming new blocks in a blockchain, involving the verification and packaging of transactions and adding them to the irreversible sequence of the blockchain. This process is crucial for the operational speed, scalability, and security of the blockchain network.

longer participation in trading contribution

The multi-party participation transaction contribution model helps enhance the decentralization and security of the blockchain. Compared to traditional methods, this model has the following advantages:

1. Improve decentralization and security
2. Improve transaction processing efficiency
3. Enhance fairness and inclusivity

"Last Action Hero" issue

"Last Actor" refers to nodes or participants who attempt to add transactions or execute operations at the last moment when a new Block is about to be formed or has already been formed. This may lead to transaction processing delays or exclusion from the Block, affecting user experience and efficiency.

Braid new design

Braid is a new blockchain design, with the core concept of running multiple Ethereum consensus instances simultaneously. This approach can significantly enhance network efficiency and throughput, potentially having a major impact on the future development of Ethereum.

MEV Issues and Solutions

Definition and Impact of MEV

MEV (Miner Extractable Value) refers to the ability of miners or validators to obtain additional profit by reordering transactions within a Block. This practice may lead to:

• Network congestion
• Costs rising
• Fairness issues

Solution proposed by Vitalik

1. MEV Isolation
2. MEV Minimization
3. Included List
4. Standardized Node Requirements

The role of MPCT in MEV

The concept of Multi-Party Contribution to Trading (MPCT) helps to alleviate the MEV problem to some extent:

1. Reduce the likelihood of transaction reordering
2. Enhance trading predictability
3. Promote fairness and reduce network congestion

Although MPCT can alleviate some of the challenges posed by MEV, it is not a complete solution to the ultimate problem of MEV. In the future, it will still be necessary to consider other technologies and the promotion of community consensus. Vitalik's research provides some directions for the future development of Ethereum, but the actual implementation effects remain to be seen.