Transaction re-ordering refers to the process where block producers alter the sequence of pending transactions before confirming them into a block. This capability allows miners or validators to arrange transactions in an order that maximizes their own profit. Such re-sequencing can significantly influence the outcome of trades or smart contract interactions. It represents a fundamental aspect of block production mechanics on many blockchain networks.
Context
The practice of transaction re-ordering is central to discussions around Maximal Extractable Value (MEV) and fair market execution in decentralized finance. Protocols and research initiatives continually work to develop mechanisms that reduce or eliminate the ability for block producers to manipulate transaction order. This area remains a key battleground for ensuring network neutrality and protecting users from predatory practices. News often covers advancements in MEV-resistant designs.
This research quantifies the significant economic costs and market distortions caused by Maximal Extractable Value (MEV) transaction re-ordering on Ethereum, revealing hidden burdens on users and the critical need for systemic reforms.
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