A decentralized mempool is a distributed collection of unconfirmed transactions waiting to be processed and added to a blockchain. Unlike a centralized mempool, where a single entity might control transaction visibility, a decentralized version ensures transactions are propagated widely across the network. This design helps to mitigate issues like transaction censorship and frontrunning. It promotes a fairer ordering of pending operations.
Context
The design and implementation of decentralized mempools are critical for enhancing the fairness and censorship resistance of blockchain networks. Current debates address the challenges of ensuring uniform transaction propagation and preventing malicious actors from exploiting transaction ordering. Improvements in mempool decentralization are seen as vital for the integrity of digital asset exchanges and protocol security.
Integrating threshold encryption into the mempool decouples transaction submission from ordering, structurally eliminating frontrunning and centralizing MEV.
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