peer-to-peer networks

The development of smart contracts in blockchain networks has enabled the creation of sophisticated decentralized finance (DeFi) protocols, encompassing decentralized exchanges, lending platforms, and algorithmic crypto-assets. Despite decentralization and transparency, blockchain networks do not guarantee a predictable transaction execution order, leading to the emergence of the phenomenon known as Maximal Extractable Value (MEV) – an additional profit extracted by certain network participants who influence transaction ordering.

The advent of smart contract technology in blockchain networks has ushered in a new era of possibilities for implementing complex decentralized finance protocols. Over time, these protocols have gained significant traction, reaching a Total Value Locked (TVL) of over 150 billion US dollars. While blockchain networks offer inherent benefits such as immutability, transparency, decentralization, and security, they still grapple with a critical challenge – the inability to ensure a predictable order of transactions within produced blocks.