Network protocols are sets of rules and standards that govern communication and data exchange between devices in a network. They define the format, timing, sequencing, and error checking of data packets transmitted across a network. These protocols are foundational to the operation of all digital communication systems.
Context
Within the blockchain and cryptocurrency domain, network protocols are critical for enabling secure and efficient transaction processing, data propagation, and consensus achievement among distributed nodes. Discussions often revolve around the scalability, security, and decentralization characteristics of various consensus protocols, such as Proof-of-Work and Proof-of-Stake. Upgrades to these underlying protocols are frequently a source of significant news and market anticipation.
This research introduces uncertainty principles to model the fundamental trade-off between transaction reordering flexibility and user economic outcomes, revealing limits of universal MEV mitigation.
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