Sequencing fairness pertains to the impartial ordering of transactions or operations within a decentralized system, particularly in blockchain networks. It addresses the problem of malicious actors or validators manipulating the sequence of transactions to gain an unfair advantage, such as through front-running. Achieving sequencing fairness aims to prevent economic exploitation and ensure equitable access to network resources. It is a critical aspect of designing robust and censorship-resistant decentralized protocols.
Context
Sequencing fairness is a significant research area in blockchain protocol design, often discussed in technical crypto news, especially concerning decentralized finance (DeFi) and maximal extractable value (MEV). Solutions like proposer-builder separation and various fair ordering mechanisms are being developed to mitigate the risks associated with unfair transaction sequencing. The pursuit of sequencing fairness is essential for enhancing the integrity and trustworthiness of decentralized applications and preventing market manipulation.
A new AMM mechanism ensures provable incentive compatibility by maintaining a constant potential function, fundamentally eliminating application-layer MEV exploitation.
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