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Decentralization of Ethereum's Builder Market
May 3, 2024, 4:15 a.m. | Sen Yang, Kartik Nayak, Fan Zhang
cs.CR updates on arXiv.org arxiv.org
Abstract: Blockchains protect an ecosystem worth more than $500bn with their strong security properties derived from the principle of decentralization. Is today's blockchain really decentralized? In this paper, we empirically studied one of the {\em least decentralized} parts of Ethereum -- the most used blockchain system in practice -- and shed light on the decentralization issue from a new perspective.
To avoid centralization caused by Maximal Extractable Value (MEV), Ethereum adopts a novel mechanism that produces …
arxiv blockchain blockchains builder cs.cr decentralization decentralized ecosystem ethereum market parts practice protect security shed system today
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