Miner Extractable Value (MEV) represents the profit a blockchain miner can obtain by strategically including, excluding, or reordering transactions within a block. This value is derived from the miner’s ability to exploit information asymmetry or transaction ordering for personal gain. MEV is a complex economic phenomenon within proof-of-work and proof-of-stake consensus mechanisms.
Context
Miner Extractable Value is a topic of considerable debate within the cryptocurrency community, particularly concerning its fairness and impact on transaction fees. Discussions often address sophisticated MEV extraction strategies, such as front-running and sandwich attacks, and their implications for retail users. Ongoing research explores mechanisms to mitigate negative MEV effects and distribute its benefits more equitably.
This research establishes a rigorous theoretical framework for Maximal Extractable Value (MEV), enabling systematic analysis and the development of provably secure blockchain protocols.
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