Why run mev-boost? | Flashbots

Background

block producer role:

  1. building the best block from all available transactions. MEV here!
  2. proposing this block to the network together with a proof-of-work or stake.

existing problems:

Solution: proposer-builder separation (PBS)

Validators outsource the difficult building of blocks to specialized parties called block builders

3 stages:

  1. Stage 1 (2020 until today): Flashbots started as a builder specializing in MEV extraction in proof-of-work Ethereum to democratize access to MEV and make the most profitable blocks available to all miners. >90% of miners are outsourcing some of their block construction to Flashbots today.
  2. Stage 2 (we are here!): mev-boost is a new middleware in which validators can sell their blockspace to not just Flashbots but other builders as well. This opens up the market to more builders and creates competition between them, leading to more revenue and choice for validators, and better censorship-resistance for Ethereum.
  3. Stage 3 (in ~2 years): In the future, PBS will be enshrined in the Ethereum protocol itself to further harden its trust model.