Sequencing mechanisms refer to the processes that determine the order in which transactions are processed and added to a blockchain. These mechanisms are crucial for maintaining consensus and preventing issues like front-running or transaction reordering attacks. They directly influence the finality, security, and fairness of a decentralized network. Different blockchain architectures employ various sequencing strategies.
Context
The design of sequencing mechanisms is a critical area of research and development in scaling blockchain networks, particularly for rollups and layer-2 solutions. A key debate addresses the centralization risks associated with certain sequencer designs and their impact on censorship resistance. Future innovations aim to decentralize sequencing further and enhance transaction ordering fairness.
This research introduces a time-advantage auction mechanism, fundamentally altering how Maximal Extractable Value is distributed and potentially enabling fairer transaction ordering.
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