V神提出了区块构建的全新概念，意在重构以太坊生态？ V God has proposed a new concept of block construction, aiming to reconstruct the Ethereum ecosystem?
V God proposed a new concept again, is it a disguised marketing move or a genuine effort in technology?Recent trading data from the Ethereum market shows a volatile state, with a slight decline in Ethereum's price and a decrease in trading volume. The RSI indicator indicates that Ether is in an oversold condition, which may suggest the possibility of a market adjustment.
On August 7, Ethereum co-founder Vitalik published a research summary on Twitter regarding Ethereum block construction as of that date. The gist of the post was that he expressed a general consensus in the industry that having multiple participants contribute transactions that must be included in a block is a good idea. However, there remains public debate about whether the "last mover" problem can be avoided. Vitalik believes that the topic of block construction is approaching a breakthrough. Additionally, they mentioned a new design called Braid proposed by @MaxResnick1. Before delving deeper, it is helpful to understand a few new concepts.
Related Concept Analysis: Understanding Potential Value Opportunities in Public Chain Ecosystems
What is block construction?
Block construction refers to the process of forming new blocks in a blockchain. This process typically involves verifying and packaging transactions and adding them to the irreversible sequence of the blockchain. Its impact on the cryptocurrency and blockchain space is crucial, as the efficiency and security of block construction directly affect the operating speed, scalability, and security of the blockchain network.
What advancements does "transactions that must be included in a block contributed by multiple participants" recognized by Vitalik bring to today's blockchain?
"Transactions that must be included in a block contributed by multiple participants" (Multi-Party Committed Transactions, MPCT) means that when multiple participants can contribute transactions to a block, it indicates that the blockchain system is more open and inclusive. This practice helps to increase the security and decentralization of the block, as it reduces the control of a single node or entity over blockchain operations. This model can also enhance network efficiency, ensuring that more transactions are confirmed and processed, thereby improving overall transaction throughput and network stability.
Compared to current blockchain transaction methods, the advancements of MPCT are:
- Enhanced decentralization and security:
Traditional method: Transactions are typically packaged into blocks by a few nodes or miners, posing a centralization risk as these nodes may concentrate control over part of the blockchain network.
Advanced method: Allowing multiple participants to jointly contribute transactions to a block increases the level of decentralization. This model reduces the control of a single node or entity over blockchain operations, enhancing the network's security and resistance to attacks. - Improved transaction processing efficiency:
Traditional method: Limitations of a single node or miner can lead to slower transaction processing speeds, especially during transaction congestion.
Advanced method: Allowing multiple participants to contribute transactions simultaneously helps to improve transaction processing efficiency and throughput. This can lead to faster transaction confirmations, reducing the likelihood of transaction congestion and enhancing user experience. - Increased fairness and inclusivity:
Traditional method: Transactions are prioritized by a few miners, which may lead to some transactions being confirmed faster while others are delayed.
Advanced method: Multiple participants contributing transactions makes the block formation process fairer, giving each participant a more equal opportunity to have their transactions included in the next block. This fairness enhances the inclusivity of the blockchain, better serving a wide user base.
What is the "last mover" problem?
The "last mover" problem refers to nodes or participants in a blockchain that attempt to add transactions or execute operations at the last moment before a new block is about to be formed or has already been formed. These participants may face a competitive environment, as their transactions may be delayed in confirmation or even excluded from the upcoming block due to time constraints or other nodes prioritizing their transactions.
This situation can lead to slower transaction processing speeds or increased costs for some participants, thereby affecting their transaction experience and efficiency on the blockchain network.
What is the Braid new design?
A new design called Braid proposed by @MaxResnick1 centers around the idea of running multiple Ethereum consensus instances simultaneously. This approach can significantly enhance the efficiency and throughput of the Ethereum network, potentially having a major impact on the future roadmap of Ethereum. The video emphasizes this innovative potential and how it could bring new development directions and technological prospects for Ethereum in the context of blockchain technology evolution.
The core concept of Braid's new design is to implement multiple parallel running block proposers within the Ethereum network. The basic idea of this design is to run multiple Ethereum consensus instances simultaneously to improve the overall efficiency and performance of the network. Specific technical details and implementation methods may involve how to coordinate and manage these parallel instances to ensure network security and consistency.
The Braid design could play an important role in the future roadmap of Ethereum. By implementing multiple parallel block proposers, it can significantly enhance the throughput and processing capacity of the Ethereum network. This is very beneficial for addressing congestion and delays that may occur during high transaction volumes on the current Ethereum network. Furthermore, the implementation of the Braid design may also promote technological innovation within Ethereum, providing developers and users with a more stable and efficient blockchain platform. Therefore, the Braid design is expected to play a significant role in the future upgrades and development of Ethereum, driving the network towards greater efficiency and scalability.
Vitalik Proposes Solutions to Miner Extractable Value (MEV) Concerns
Recently, Vitalik shared his thoughts on the issue of Ethereum construction—Miner Extractable Value (MEV).
MEV refers to the ability of miners or validators to gain additional profits by rearranging transactions within a block. This practice leads to unfairness in transaction processing, network congestion, and rising gas fees.
MEV has the following negative impacts:
Network congestion: Miners compete to include high-profit transactions, leading to network congestion and increased gas fees for ordinary users.
Rising fees: Validators prioritize high MEV transactions, making transaction processing more expensive for ordinary users.
Fairness issues: Specific users or those with special tools can gain unfair advantages by manipulating transaction order.
Vitalik proposed the following solutions:
MEV isolation: Limit the ability of validators to reorder transactions by submitting transactions to MEV auction bidding.
MEV minimization: Optimize block construction algorithms to reduce the likelihood of validators extracting excessive MEV.
Inclusion lists: Users can submit a list of transaction processing orders, increasing user control over the transaction processing sequence.
Standardized node requirements: Lower the difficulty of running nodes, increase network decentralization, and reduce the control of a few validators over MEV.
The role of MPCT in MEV
The concept of "transactions that must be included in a block contributed by multiple participants" (Multi-Party Committed Transactions, MPCT) indeed has a certain promoting effect on the challenges posed by the MEV issue.
- Reducing the possibility of transaction reordering: MPCT aims to ensure that transactions submitted by multiple participants are included in the block, thereby reducing the space for miners or validators to reorder transactions. This method can somewhat limit miners' ability to extract MEV by rearranging transactions.
- Enhancing transaction predictability: Since transactions from multiple participants are committed to being included in the block, this enhances the predictability of transaction order and processing. This helps to reduce the space for MEV exploitation, making it impossible for miners to gain unfair advantages by adjusting the order.
- Promoting fairness and reducing network congestion: By ensuring timely processing of transactions from multiple participants, MPCT helps to alleviate network congestion and rising fees caused by MEV. This is significant for improving overall network fairness and efficiency.
In summary, MPCT, as a technical means, can alleviate the challenges posed by MEV to some extent, particularly regarding the unfairness of transaction order prioritization and its negative impact on network efficiency. However, implementing MPCT is not a complete solution to the MEV issue, and other technologies and community consensus need to be considered. Vitalik's research summary on Ethereum block construction provides insights into potential future developments for Ethereum, but whether it can align with development remains to be seen.
