Key Infrastructure in the Blockchain World: MEVA Analysis

In the development of blockchain technology, regulation and infrastructure construction are crucial. Among them, block builders, as the core components of the underlying blockchain, have a decisive impact on the operation and stability of the entire system. If there are issues in block production or improper incentive mechanisms, the integrity of the entire blockchain will face the risk of collapse, and users will consequently be lost.

Block builders are responsible for selecting transactions from the memory pool and assembling them into blocks, which are then propagated across the network to achieve consensus. The design of the block building process and the participants vary across different blockchain platforms.

The industry commonly uses "MEV" (Maximum Extractable Value) to describe the issues present in block construction. In short, those responsible for ordering transactions may maliciously adjust the transaction order to maximize their own benefits, which could increase costs for users. To address this issue, some infrastructure solutions have emerged, including the miner extractable value auction infrastructure (MEVA). The main goal of MEVA is to achieve stability, competitiveness, and decentralization of gas fees.

In the Ethereum network, due to the longer block time (about 12 seconds), participants have enough time to optimize their returns. The currently adopted proposer-builder separation (PBS) scheme divides the entire process into multiple roles: users, block producers, relayers, block proposers, and seekers. This design encourages information sharing among all parties by decentralizing interests, leading to more competitive block construction. However, this scheme also has issues, such as the centralization trend of block production and applications starting to obtain MEV on their own.

The emerging blockchain project Monad plans to launch a high-performance EVM-compatible Layer 1 network that can process 10,000 transactions per second, with a block time of just 1 second. This high-performance design brings new challenges, including state uncertainty, limited block simulation time, and execution uncertainty.

To address these challenges, the aPriori team is developing an innovative MEVA solution. The team consists of professionals with extensive financial and technical backgrounds, aiming to design an efficient, user-friendly, and beneficial architecture for Block builders on the Monad network.

aPriori also plans to launch a liquid staking service that allows users to earn rewards through staking. This is similar to the approach taken by Jito on the Solana blockchain, which has already achieved significant market value and revenue.

With the upcoming launch of the Monad testnet, aPriori will release the initial version of its liquid staking protocol and MEVA system. Their goal is to attract seekers and block builders to participate in block space auctions and provide validators with opportunities for experiments and stress testing.

The design of MEVA is crucial for ensuring a good user experience on the Blockchain network and the profitability of block builders. In the rapidly evolving Blockchain ecosystem, teams like aPriori will continue to drive innovation to address emerging challenges and opportunities.