Flashbots is a research and development group focused on improving the Ethereum blockchain. They address issues caused by Maximal Extractable Value (MEV), a concept involving the extraction of value in blockchain transactions.
What is Flashbots
Here’s how it works:
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Mitigating MEV Issues: Flashbots identifies MEV opportunities, bundles transactions, and collaborates with miners to add these to a block. The rewards are shared between miners and researchers.
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Main Goals:
- Increase transparency in MEV activities.
- Make access to MEV revenue fairer.
- Distribute MEV revenue sustainably.
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Services Offered:
- For Users: Flashbots provides tools to prevent common issues like front-running or sandwich attacks.
- For Validators and Nodes: They offer solutions to maximize block profitability and increase staking yields.
- Dashboards: For the community to understand and analyze the MEV landscape.
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SUAVE Platform: A new initiative by Flashbots, functioning like a mempool (a waiting area for transactions). SUAVE allows developers to create applications for more efficient and private transactions, enhancing user experiences on networks like Ethereum.
In summary, Flashbots works to make Ethereum transactions fairer, more transparent, and efficient, benefiting both regular users and validators. They are continually developing new tools and platforms like SUAVE to improve the blockchain ecosystem.
Team of Flashbots
Tianhong Zhen
Co-Founder
Tianhong Zhen is a co-founder of Flashbots. He is an open-source developers that has build several project to enhance the blockchain infrastructure. Among them, he built HoneyLemon.market, supported by A16Z School Project, Hashedge, a Decentralized Marketplace for Generalized mining, winner of the EthSingapore 2018 hackathon.
Phil Daian
Co-Founder
Phil delved into hacker forums, cryptography, and was an early Minecraft enthusiast. He identified a security gap in Silk Road but declined their lucrative job offer. Venturing into Ethereum, he pinpointed flaws in the 2016 DAO project. Recently, he co-founded Flashbots, aiming to enhance blockchain fairness.
Robert Miller
Product Lead & Steward
Robert Miller is Product Lead & Steward at Flashbots. Formerly, he founded MW Digital Capital, led a team that took advantage of novel on-chain value capturing opportunities; Director, Product Management and Strategy at ConsenSys Health, spun out from an internal ConsenSys team to an independent entity.
Alejo Salles
Co-founder
Alejo Salles is a co-founder of Flashbots. He was a research lead at OpenZeppelin, an open-source library for Smart Contract development, and was a professor at University of Buenos Aires, and a researcher for Conicet, National Council for Scientific and Technical Research.
Flashbots review
Pros
Large Market Potential
MEV represented over $675m in value before the Ethereum Merge.
Valuable Solutions
Products address Ethereum's security and efficiency challenges.
Significant Funding
Secured $30m, led by reputable investor Paradigm.
Expert Team
Members have notable experience in crypto and security, with ties to Ethereum and recognition from top firms.
Cons
Product Complexity
MEV concepts may be too advanced for general user understanding.
Marketing Shortfall
Limited marketing efforts could hinder reaching a broader audience.
Transparency Issues
Bypassing public transaction pools reduces transaction validation transparency.
Opportunities
AirdropMainnet
Minimal cost: Free
Flashbots
Participate in Flashbots Retro Opportunity to benefit from the potential airdrop!