Fair ordering refers to a property in distributed systems, particularly blockchains, where the sequence of transactions is determined impartially and without undue influence from any single participant or group. This mitigates the risk of malicious actors manipulating transaction order for personal gain, such as front-running. Achieving fair ordering is a critical objective for maintaining integrity and preventing economic exploitation. It ensures equitable processing of requests.
Context
The issue of transaction sequencing, and specifically the pursuit of fair ordering, is a significant area of research and development in blockchain technology, often discussed in news concerning MEV (Maximal Extractable Value). Solutions like threshold encryption or commit-reveal schemes are being explored to prevent validators or miners from unfairly profiting by reordering transactions. This remains a key challenge for decentralized exchange and DeFi fairness.
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