Ethereum's New Block Proposal: Decentralizing Power, Eliminating MEV
1min read An Ethereum researcher has proposed a novel block proposal solution aimed at addressing the centralization issues plaguing the Ethereum network and eliminating Maximal Extractable Value (MEV). The "Decentralized Random Block Proposal" leverages Byzantine Fault Tolerance (BFT) to distribute block-building responsibilities across thousands of clients globally, fully democratizing the process and mitigating the influence of profit-driven manipulation tactics.
The current Ethereum block-building process has become increasingly centralized, with a handful of block builders dominating the network. According to the researcher, Malik672, two prominent Ethereum block builders, Beaverbuild and Titan Builder, constructed 88.7% of all Ethereum blocks in the first two weeks of October. Although this figure has since decreased to around 80%, it remains far more centralized than the Ethereum community would prefer.
Malik672's solution involves implementing a shared random algorithm that selects block proposers cryptographically, preventing the profit-driven manipulation tactics that have negatively impacted ordinary network users. This approach aligns with Ethereum's trustless roots and remains compatible with the Danksharding's blob requirements, a solution aimed at scaling Ethereum layer 2s.
The "Decentralized Random Block Proposal" may also accelerate propagation, the process by which transactions are broadcast to network validators, potentially reducing slot times from 12 seconds to around 6 to 8 seconds. This improvement comes as Ethereum developers and researchers agreed to deploy upgrades at a faster cadence to accelerate the network's technical roadmap.
The Ethereum Foundation has recently deployed $120 million to decentralized finance (DeFi) applications, further demonstrating the community's commitment to the network's development and growth. As Ethereum continues to evolve, solutions like the "Decentralized Random Block Proposal" play a crucial role in addressing centralization concerns and ensuring the network remains true to its decentralized ethos.
