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Flashbots

blog.bitmex.com

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Re: Flashbots

#21

Post by mgraczyk »

latchkey wrote: post #19
mgraczyk wrote: post #15

Earlier quoted context omitted.

Just to make this clear, the MEV problem and centralization pressure is still there, it's just been temporarily disrupted. Like you said, this can be fixed more easily now but hasn't yet.

The centralization issue of block formation has been made, temporarily, worse with the switch to PoS [0]. I expect them to clear this up in the future. Introducing mev-boost now would have likely caused delays in the merge and at some point, you just have to make the switch and fix things later, which is what they did. [0] https://twitter.com/koeppelmann/status/1570436882483523585

Thanks, I hadn't seen this distribution.

Re: Flashbots

#22

Post by latchkey »

encryptluks2 wrote: post #18

Whatever happened to the decentralization concept of every user being a node? Like not just computers but apps for phones too, so in order to use it you also have to share some resources in return. Is BitTorrent really the closest thing to decentralization?

There is still a plan for that, but it has required a lot of R&D and 'invention' of new techniques. Read up on Verkle trees [0]. That said, the plan is to basically prune the database and not keep history of what each wallet balance was at a certain block. This storage is going to be pushed off to indexers that want to provide it as a service. I'm not sure that is a good or bad thing, but it'll enable the future you're talking about since we do not have infinite storage/bandwidth on our small devices.

[0] https://vitalik.ca/general/2021/06/18/verkle.html

Re: Flashbots

#23

Post by Animats »

Hm. Have the economics changed? In a proof of work system, you have to operate a mining farm, using hardware and power. In the new proof of stake system, you just have to operate a validator, which is cheap, and own lots of ETH. So, while there are advantages to front-running, there's not as much cost pressure to do it. The motivations of miners and HODLers are different.

Re: Flashbots

#24

Post by hash07e »

So lets talk it straight.

The merge killed the thing that keep ETH DE-centralized.

Now who owns more ETH has more power...

Like centralized finance.. instead of Defi.

Re: Flashbots

#25

Post by zeroclip »

hash07e wrote: post #24

So lets talk it straight. The merge killed the thing that keep ETH DE-centralized. Now who owns more ETH has more power... Like centralized finance.. instead of Defi.

This post was from before the merge to proof of stake.

Re: Flashbots

#26

Post by michaelwww »

tyrust wrote: post #11

> In Ethereum, as of May 2022, it is believed that over 90% of miners are connected to the Flashbots server. One can determine this by observing that over 90% of blocks contain Flashbot transaction bundles. > The Flashbots system is integrated into the current Proof of Work (PoW) mining system on Ethereum. When the Merge happens and PoW mining is switched off, Flashbots adoption will reset to zero again. This article…

> We go on to look at ETH 2.0 and explain why Flashbots or a similar system needs to be constructed again from scratch.

I read it as what was and now what is needed

Re: Flashbots

#28

Post by davidgerard »

yuan43 wrote: post #5

> Therefore, block producers and searchers require complex systems similar to those of a sophisticated trading house, like Alameda Research or Jump for example. This can therefore result in significant centralisation pressures for block producers, with smaller less sophisticated block producers being unable to compete. I want to make sure I have this straight. The "therefore" in this paragraph refers to how miners "r…

Right now, because there's no other way to cash out. The ETH you get for your stake stays locked up with your stake!

The only ETH a validator can get from validating that they can sell immediately is their take from MEV, i.e. frontrunning.

Re: Flashbots

#29

Post by TobyTheDog123 »

ITT: People see a crypto-based headline and write smarmy, reddit-tier, bad-faith comments about something they know nothing about, and don't desire to know anything about.

I can see it's already starting.

Re: Flashbots

#30

Post by NavinF »

jstx1 wrote: post #9
sam1r wrote: post #4

Earlier quoted context omitted.

10% decentralized. But hey, something is better than nothing.

In a system with majority voting 90-10 is as good as 100-0.

> In a system with majority voting

Why troll with non sequiturs?

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