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Solana Co-Founder Anatoly Yakovenko Proposes Solution to MEV Issue

11/06/2024 11:14

According to Odaily, Anatoly Yakovenko, co-founder of Solana, has proposed a solution to the Miner Extractable Value (MEV) problem. Yakovenko suggests that the simplest way to resolve the MEV issue is to allow each user to have their own block producer (node) and produce blocks independently. This would ensure that no unexpected MEV occurs when users submit transactions. However, this is practically impossible as it is unfeasible to support tens of thousands of block producers online simultaneously, let alone achieving a global time slot of less than 100 milliseconds. So, what is the next best solution? Yakovenko believes the answer lies in maximizing competition among existing block producers and allowing users to choose which block producer they want to package their transactions. While this is still an engineering problem, it is not impossible to achieve. The more block producers scheduled per second, the shorter the wait time for users for the best packaging offer. Improvements can be made by reducing block intervals, parallel processing, faster node rotation, and more. The market will make choices regarding these issues. The crucial point is that users need to be willing to submit their transactions to this type of block auction.

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