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Thomas Thiery said Fossil is designed to improve transaction inclusion guarantees in Ethereum blocks by enabling validators to enforce transaction inclusion. He added that the design aims to prevent MEV from undermining censorship resistance, noting that MEV can create centralizing incentives among validators and challenge Ethereum’s decentralization.
Fossil enhances inclusion guarantees for public transactions by allowing validators to enforce transaction inclusion. The mechanism lets multiple validators coordinate to force inclusion lists into Ethereum blocks.
Thiery said the intent behind Fossil is to avoid involving MEV in a way that would compromise censorship resistance. He described Fossil as a way to ensure censorship resistance is not crowded out by MEV-driven transactions, while keeping the focus on Ethereum’s decentralized ethos.
Thiery described MEV as a “centralization force” among validators. He said validators that might otherwise be decentralized can become centralized due to MEV dynamics.
He also pointed to the current state of block building, saying it is dominated by a few builders and that builders have become “very centralized,” with “very dominant builders.” In his view, this centralization undermines Ethereum’s decentralization and poses a health risk to the network.
Thiery defined MEV as the context in which a transaction is placed in an Ethereum block. He said MEV affects the ordering of transactions and the potential creation of new transactions.
He also emphasized that the extractable value from MEV can be much larger than the transactions themselves, stating that “this extractable value it dwarfs the transactions themselves.”
Thiery referenced earlier estimates that MEV was around 1% of transaction volume, and he said understanding transaction ordering is key to grasping MEV’s economic implications for Ethereum.
Thiery described Ethereum block construction as involving both searchers and builders. He said that “you have builders that are also searchers,” and that searchers create valuable transaction bundles for builders to compile.
He noted that builders need to be technically sophisticated to build blocks quickly and that builders compete in an auction to construct full blocks. He also said the distinction between searchers and builders is central to how transactions are processed in Ethereum.
Thiery said the auction process between proposers and builders is mediated by a relay. He described relays as a mechanism that ensures fair exchanges between proposers and builders and prevents proposers from exploiting builders.
He added that the current relay system will be replaced by a commit and reveal scheme, stating that such a “trusted relay doesn’t need to be used.” He said the new scheme enables trustless communication between proposers and builders and that knowledge of Ethereum’s upcoming hard fork is important in this context.
Thiery said proposers hold significant power in the auction process, stating that “most of the value is actually given to the proposer.” He described proposers as capturing value before it is redistributed, and as the actors responsible for proposing the block to the rest of the network.
Thiery said the Ethereum Foundation is focused on enhancing censorship resistance and that transaction inclusion is a critical challenge addressed by the foundation. He said upcoming changes to Ethereum’s infrastructure could affect transaction processing, and that a commit and reveal scheme is intended to strengthen trustless communication.
He also framed MEV as a major challenge for Ethereum’s decentralization, pointing to the centralization of block builders and concerns about proposer power in the auction process. In his view, the foundation’s infrastructure changes are aimed at addressing these issues while preserving Ethereum’s decentralized network.
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