Draft:Maximal Extractable Value

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Instructions · What links here · Maximal Extractable Value (talk: + · bio) · (log) · Copyvios report · reFill · Citation Bot · (Search: Google, Bing, Wikipedia) · Submitted 14 days ago by Davidmihal (talk: D · +) · Last edited 13 days ago by Citation bot

Maximal Extractable Value (MEV), previously known as Miner Extractable Value, is a concept within the field of blockchain and cryptocurrency that refers to the measure of the profit a miner (or validator) can make through their ability to arbitrarily include, exclude, or reorder transactions within the blocks they produce.^[1]^[2]^[3]. The term was first coined by the researchers Phil Daian, Steven Goldfeder, Tyler Kell, Yunqi Li, Xueyuan Zhao, Iddo Bentov, and Ari Juels in their paper titled "Flash Boys 2.0"^[4].

Researchers have pointed out that the market forces of MEV may present a risk to Proof of stake consensus mechanisms^[4]^[5], while some have pointed out that this extraction of value may resemble market manipulation^[6].

References[edit]

^ Kauflin, Jeff (11 Oct 2022). "The Secretive World Of MEV, Where Bots Front-Run Crypto Investors For Big Profits". Forbes. Retrieved 14 May 2024.
^ Carapella, Francesca; Dumas, Edward; Gerszten, Jacob; Swem, Nathan; Wall, Larry (2022). "Decentralized Finance (DeFi): Transformative Potential & Associated Risks" (PDF). Finance and Economics Discussion Series. 2022 (2022–057). Board of Governors of the Federal Reserve System: 1–33. doi:10.17016/FEDS.2022.057. Retrieved 2024-05-13.
^ Mustafa Bedawala; Aaron Salot. "Ethereum's economics and staking model". Visa. Retrieved 14 May 2024.
^ ^a ^b Daian, Phil; Goldfeder, Steven; Kell, Tyler; Li, Yunqi; Zhao, Xueyuan; Bentov, Iddo; Juels, Ari (2020). "Flash Boys 2.0: Frontrunning in Decentralized Exchanges, Miner Extractable Value, and Consensus Instability". 2020 IEEE Symposium on Security and Privacy (SP). doi:10.1109/SP40000.2020.00040. Retrieved 2024-05-13.
^ Damalas, Greg. "An introduction to maximal extractable value on Ethereum". ey.com. EY. Retrieved 14 May 2024.
^ U.S. Department of Treasury (2022). Crypto-Assets: Implications for Consumers, Investors, and Businesses (PDF) (Report). Washington, D.C.: Treasury. p. 36. Retrieved 2024-05-13.

[1] Kauflin, Jeff (11 Oct 2022). "The Secretive World Of MEV, Where Bots Front-Run Crypto Investors For Big Profits". Forbes. Retrieved 14 May 2024.

[2] Carapella, Francesca; Dumas, Edward; Gerszten, Jacob; Swem, Nathan; Wall, Larry (2022). "Decentralized Finance (DeFi): Transformative Potential & Associated Risks" (PDF). Finance and Economics Discussion Series. 2022 (2022–057). Board of Governors of the Federal Reserve System: 1–33. doi:10.17016/FEDS.2022.057. Retrieved 2024-05-13.

[3] Mustafa Bedawala; Aaron Salot. "Ethereum's economics and staking model". Visa. Retrieved 14 May 2024.

[Flashboys-4] Daian, Phil; Goldfeder, Steven; Kell, Tyler; Li, Yunqi; Zhao, Xueyuan; Bentov, Iddo; Juels, Ari (2020). "Flash Boys 2.0: Frontrunning in Decentralized Exchanges, Miner Extractable Value, and Consensus Instability". 2020 IEEE Symposium on Security and Privacy (SP). doi:10.1109/SP40000.2020.00040. Retrieved 2024-05-13.

[5] Damalas, Greg. "An introduction to maximal extractable value on Ethereum". ey.com. EY. Retrieved 14 May 2024.

[6] U.S. Department of Treasury (2022). Crypto-Assets: Implications for Consumers, Investors, and Businesses (PDF) (Report). Washington, D.C.: Treasury. p. 36. Retrieved 2024-05-13.

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