Justin Drake, Ethereum researcher, has unveiled a proposal for the continuation of Ethereum Improvement Proposal 1559 (EIP-1559): MEV Burn. The objective of this proposal is to address the issue of Miner Extractable Value (MEV) and its potential manipulation by individual miners or verifiers within the Ethereum network. By burning the surplus income generated from MEV, Ðrake aims to reduce the incentives for transaction order manipulation and ensure a fair and transparent transaction ordering process.
ETHEREUM MEV BURN
MEV, often regarded as an unintended consequence of the Ethereum blockchain’s design, refers to the additional income that miners or verifiers can extract from the order of transactions they include in a block.
This practice has raised concerns within the Ethereum community as it introduces a potential avenue for miners to manipulate the transaction order, giving them undue advantages in executing certain transactions and potentially compromising the integrity of the network.
With the MEV Burn proposal, Ðrake aims to mitigate the issue of transaction order manipulation and enhance the overall efficiency and fairness of the Ethereum network. The proposal suggests burning the surplus income derived from MEV, thereby removing the financial incentive for miners or verifiers to engage in manipulative practices.