PBS, or Proposer-Builder Separation, is a proposed architectural change in proof-of-stake blockchain protocols, notably Ethereum, designed to mitigate Maximal Extractable Value (MEV) concerns. It separates the role of block production into two distinct entities: a “proposer” who suggests the block header, and a “builder” who constructs the block’s transaction contents. This division aims to reduce the proposer’s ability to manipulate transaction order for personal gain. PBS seeks to decentralize MEV extraction and enhance network neutrality.
Context
The discussion surrounding PBS is highly prominent in the Ethereum ecosystem and other proof-of-stake networks, as it represents a significant step towards addressing MEV-related centralization risks. Debates often involve the optimal design of the builder market and its potential impact on network decentralization and censorship resistance. A critical future development involves the successful implementation and stabilization of PBS, which could substantially reshape the economics and security landscape of these blockchains.
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