Protocol adaptation refers to the process of modifying or upgrading an existing blockchain protocol to enhance its functionality, scalability, security, or interoperability. This involves implementing changes to the underlying rules and code that govern the network. Such adaptations are often driven by community proposals, technological advancements, or the need to address identified limitations. It ensures the long-term viability and competitiveness of a blockchain.
Context
Protocol adaptation is a continuous and often contentious process in the decentralized world, frequently appearing in cryptocurrency news as hard forks, soft forks, or major network upgrades. Discussions often center on governance mechanisms, developer consensus, and the potential impact of changes on network participants and digital asset values. Understanding the rationale and execution of protocol adaptations is crucial for tracking the evolution and future direction of various blockchain ecosystems.
This research introduces an auction mechanism for transaction time advantage, fundamentally reshaping MEV extraction strategies and enabling AMMs to reclaim value.
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