Generalized front-running describes a sophisticated form of transaction reordering where an attacker exploits knowledge of pending transactions to profit. Unlike simple front-running, it involves analyzing the entire mempool for profitable opportunities across multiple transaction types. This activity can extract value from unsuspecting users by inserting transactions strategically. It represents a broader class of Miner Extractable Value (MEV) strategies.
Context
Generalized front-running presents a persistent challenge in blockchain networks, especially those with high transaction throughput and transparent mempools. Discussions often focus on its impact on market efficiency and fairness for ordinary users. Developments in transaction privacy and ordering protocols are attempting to counter these advanced extraction techniques.
A new axiomatic framework formalizes Maximal Extractable Value using an abstract blockchain model, enabling provable security guarantees for mechanism design.
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