Cripto Community votes to get rid of the BNB MEV chain

7. February, the founder of Binance Changpeng Zhao published a survey on X if the BNB chain should eliminate / aggressively reduces the maximum currency emissions (MEV).

MEV Questions reportedly cost BNB chain users over a billion dollars in the 2020s. Enough enough, over 80% of users voted to remove MEV questions.

What is Mev?

The expression of the maximum currency value refers to the maximum amount of compensation extracted with network transactions via redecorating or rearranging transactions that are waiting to be included in the block.

The movement allows validators to orchestrates in price on the market, adjusting prices to change the order of the order. For this reason, Mev is sometimes called “invisible taxes”.

The problem was first introduced in 2014 years when an anonymous Reddit user pronounced Concerns about potential fronts that runs miners in the Etherum network. Long before Deflomon deflects, the commentator has very clearly collected possible system abuse:

For example, in an Etherum decentralized stock exchange, I could start a miner (or more miners) of exchanged transactions. When a large purchase order comes, I could put it on all my miners, put an order in myself on all my miners at the same time, then process the original transaction. I would get the best price and I could even sell an original for immediate profit.

Although Mev is widely connected to the Etherum network, the BNB chain users face serious problems with it. As we can see from their votes, they had enough.

Various manipulations take place on automated market platforms through bots. One of the oldest Mev attacks is called “Sandwich attack”. Attack Sandwich The name refers to the setting of the target account between two commands of bad actor to manipulate the price and closed the position at a more favorable price.

In 2021. years, Chians Chain Chain reportedly lost about $ 300 million on sandwich attacks. However, the peak damage was export In 2024 years when a bot squeezed about $ 40 million in Sandwich attacks within three months, while the total shipping costs of sandwich amounted to $ 1.5 billion.

The share of affected blocks reached 35.5%.

Why not eliminate MEV questions?

If the BNB The Dev team steps into the solutions that limit Mev attackers, or that everything stays the way it? There is no answer to this question. Concerns about Mev’s attack is not difficult to understand. These attacks are considered unethical, as bad actors exploiting network vulnerabilities to gain a profit from people exchanging crypto.

The bots act in the blink of an eye, and a well-organized automated shopping system can take advantage of MEV speed options that is not available for a human being. Undoubted traders will pay earnings made by someone who uses them automated trading.

The forefront clashes for running with the law and front run in Kriptou is still a pretty gray zone. It is not prohibited, because this vulnerability is considered its yield of decentralized platforms. However, given the damage scale, reducing opportunities for Mev attacks through technical advances, and Zha’s survey reveals it.

Why many respondents prefer to keep mew problems intact intact? First, many believe that Mev’s options lie in the DNA of decentralized finances and there are no ways to delete them. Another finds Mev ok, because it’s exploitation, it’s not a breach, and while Mev is just an opportunity to earn something extra, not see the reason to oppose it.

Finally, observers claim that the opportunity for Mev attacks encourages larger validators. This, in turn, reinforces decentralization and makes a network safer for everyone.

Generally speaking, “MEV questions” are the price they pay for the use of decentralized finances.

This approach ignores similarities between such amber tricks such as weather bandit attack and notorious 51% attack, which is a very contrast to decentralization and security for all.

What are the possible solutions?

Zhao himself admits that MEV problems cannot be “fully” stopped, but there are ways to reduce damage.

One of the tools that help fight MEV attack is called remote procedure. RPCS Direct Transactions in Private Memory, which has made it difficult for bad actors to arrange sandwich attacks.

Another solution that is in working work of 2023. years. Gluder-separate separation of the proposer (PBS) amounts to blocks of blocks according to separate actors preparing blocks for rollers that choose the most hired options, but cannot be used. Increasing the number of relays of the BNB chain can be another way to limit the influence of MEV attacks.

Since there are already several solutions projects in works and the amount of money made through MEV attacks, great support for MEV reduction does not seem surprising.