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The goal of this paper is to rigorously interrogate conventional wisdom about centralization in block-building (due to, e.g., MEV and private order flow) and the outsourcing of block-building by validators to specialists (i.e., proposer-builder separation): This paper develops mathematical models and results that offer answers to these questions: Our models and results take advantage of connections to contest design, Pólya urn processes, and auction theory.

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Centralization in Block-Building and Proposer-Builder Separation

  • 会议论文

  • 发表日期：

    2025年

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  • Maryam Bahrani,
  • Pranav Garimidi,
  • Tim Roughgarden

摘要

The goal of this paper is to rigorously interrogate conventional wisdom about centralization in block-building (due to, e.g., MEV and private order flow) and the outsourcing of block-building by validators to specialists (i.e., proposer-builder separation): This paper develops mathematical models and results that offer answers to these questions: Our models and results take advantage of connections to contest design, Pólya urn processes, and auction theory.