Michael
@mostlyblocks
Head of research @blockspace_eth | @blockspaceforum | fmr. head of research @ChorusOne | block building enthusiast
209 Following 790 Followers
Agree. What's the fundamental property of distributed block building?
Arguably, it's how predictable inclusion is.
You could say that inclusion risk reduces to exogenous factors like network jitter.
So discretion is minimized, and builders compete on efficiency.
FOCIL provides this inclusion predictability for transactions the protocol can see in the mempool.
MPBC increases the inclusion predictability for transactions that are known to any builder, even if they are not in the mempool.
Show more
Concise argument worth reading.
Particularly like the view of ETH as a commodity with functional utility.
imv this utility is composed of:
(1) Blockspace, which ETH buys.
(2) Value, which ETH stores.
High issuance for excess security is not conducive to either.
Show more
