Ethereum

This post proposes a mechanism for users to protect their txs against MEV extraction. Users encrypt and decrypt their txs without intermediaries using a simple cryptographic hash, trustlessly achieving an encrypted mempool.

This post proposes a mechanism for users to protect their txs against MEV extraction. Users encrypt and decrypt their txs without intermediaries using a simple cryptographic hash, trustlessly achieving an encrypted mempool.

https://ethresear.ch/t/sealed-transactions/21859

Before T1 — Users post sealed txs consisting of a cryptographic hash computed from the raw tx and its associated ToB fee.

T1 — Proposers add sealed txs from the encrypted mempool to a commitment struct in Block A.

T2 — Once a user observes their sealed tx in a block, they broadcast the unsealed raw tx pointing to it.

T3 — Attesters locally observe the timeliness of unsealed txs and verify that their hashes match the original commitments.

T4 — The proposer orders txs top-of-block in Block B, sorted according to the unsealed fee.

T5 — Attesters confirm with their attestation, contingent on correct collation.

Developing transparent finance for @ethereum

The two most important concerns are:
1. Liveness—if there are many unsealed txs that must be included in the block by the proposer, under strict fork-choice enforcement by attesters.
2. A more complex UX, where users must time the release of their unsealed txs—though this process can be automated by the wallet.