Block production refers to the process of creating new blocks of transactions on a blockchain. This involves network participants, often called miners or validators, who bundle pending transactions into a block and add it to the existing chain. The successful production of a block typically rewards the producer with newly minted cryptocurrency and transaction fees, incentivizing network security and operation.
Context
Discussions surrounding block production frequently center on the energy consumption of proof-of-work mechanisms versus the more energy-efficient consensus algorithms like proof-of-stake. The efficiency and security of block production directly influence transaction confirmation times and network scalability, key metrics for evaluating a cryptocurrency’s viability and adoption. Ongoing developments aim to optimize block production to support higher transaction throughput without compromising decentralization or security.
This research fundamentally redefines transaction fee mechanism design by integrating active block producer behavior and proposing a novel sybil-proof auction for enhanced welfare.
This research introduces the SAKA mechanism, a sybil-proof, incentive-compatible transaction fee design that mitigates MEV's negative impact on blockchain welfare.
A novel ticketing mechanism aims to integrate Maximal Extractable Value directly into the Ethereum protocol, fostering fairer distribution and network robustness.
This research introduces Execution Tickets, a novel mechanism to integrate Maximal Extractable Value directly into the Ethereum protocol, shifting value capture from external entities to the network itself.
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