BNB Chain Proposes Measures To Enhance Network’s Security And Address MEV Challenges
In Brief
BNB Chain announced plans to improve Maximal Extractable Value and enhance e network security by using the Proposer-Builder Separation model.
Blockchain platform focused on supporting Web3 decentralized applications (dApps), BNB Chain announced its intention to improve Maximal Extractable Value (MEV) and enhance e network security by using the Proposer-Builder Separation (PBS) model.
MEV is a complex yet integral aspect of all Proof-of-Stake (PoS) blockchains, including BNB Chain (BSC) and Ethereum. While it poses challenges such as arbitrage and sandwich attacks, it also plays a crucial role in incentivizing participation and securing the network.
The PBS model differentiates between block proposers (validators) and block builders, allowing builders to create blocks and submit them to validators, who then choose the most profitable block to include in the blockchain. Currently, over 60% of transactions are processed on-chain through builders, and the BNB Chain team aims to increase this figure to over 90% to enhance user protection.
Why Utilize MEV-Protected RPC?
Utilizing a private MEV-protected RPC allows users to submit their transactions to a developer’s private mempool, effectively reducing the chances of being targeted by sandwich attacks. Typically, decentralized exchange (DEX) protocols and wallet providers, such as Pancake Swap, offer free MEV protection features. In addition to these complimentary options, users have the choice to purchase premium private MEV-protected RPCs from service providers like BloxRoute, Blocksmith, Nodereal, Blockrazor, and Puissant.
To further enhance transaction speed, BNB Chain advises users to create a proxy that broadcasts their transactions to multiple builders. This strategy can improve the speed at which transactions are included in blocks. Additionally, users will need to set up their own RPC proxy utilizing various builder service providers.
BNB Chain is a blockchain platform designed to facilitate the creation and implementation of dApps. Recently, BNB Chain announced an integration with the messaging application Telegram, aimed at providing easier access for both users and developers. This development is expected to enhance the overall user experience within the platform, making it more convenient for participants to engage with BNB Chain services.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
