Block building refers to the process by which network participants, typically miners or validators, collect and organize transactions into a new block for addition to the blockchain. This activity involves selecting pending transactions from the mempool and ordering them according to specific rules, often prioritizing those with higher fees. The completed block is then proposed to the network for verification and inclusion. This fundamental operation maintains the integrity and progression of a distributed ledger.
Context
The state of block building is currently undergoing significant changes, particularly with the transition of many networks to Proof-of-Stake consensus mechanisms. A key debate concerns the centralization risks associated with block proposers or builders, especially regarding transaction ordering (Maximal Extractable Value, or MEV). Future developments will likely involve separation of block building from block proposing roles to enhance decentralization and fairness.
A new two-tiered architecture incorporates publicly verifiable decryption, resolving the censorship vulnerability inherent in existing block-building separation models.
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