What is Proposer-Builder Separation (PBS), and why is it important?
A 𧡠π
A 𧡠π
PBS has two goals:
1) Separating the block proposer from the builder, thereby isolating the aspect most prone to centralization (the building) from the validation of transactions.
1) Separating the block proposer from the builder, thereby isolating the aspect most prone to centralization (the building) from the validation of transactions.
2) Using a commit-reveal scheme to democratize MEV revenue, making it trustlessly accessible to validators of all sizes.
The PBS design makes it easy to build MEV smoothing and danksharding on top of. However, the primary focus today is on increasing censorship resistance.
@vbuterin/pbs_censorship_resistance" target="_blank" rel="noopener" onclick="event.stopPropagation()">notes.ethereum.org
@vbuterin/pbs_censorship_resistance" target="_blank" rel="noopener" onclick="event.stopPropagation()">notes.ethereum.org
In a sense, PBS is an official inclusion of the Flashbots MEV-Boost software into the core protocol. On the Ethereum roadmap, PBS is slated to go live in the Splurge.
Special thanks to both @bertcmiller and @ObadiaAlex from Flashbots for helping out with this thread!
More threads demystifying aspects of modular blockchains are coming soon.
More threads demystifying aspects of modular blockchains are coming soon.
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