Former Binance CEO Changpeng Zhao sparked an important discussion in the crypto community by launching a poll on Maximal Extractable Value (MEV) issues on the BNB blockchain.
MEV: Context and Importance
Maximal Extractable Value (MEV) is a significant concept in the blockchain sector, particularly within decentralized finance (DeFi). MEV refers to the profit that miners, validators, and other parties can extract from the ordering, censoring, or inserting of transactions within a block.
Poll Results and CZ's Opinion
The poll results showed that 82.6% of respondents voted in favor of addressing MEV concerns, while 17.5% chose to leave them alone. CZ expressed his personal opinion, stating: "I hate any type of 'front running,' and MEV looks like that to me." He further added that in a decentralized world, no one can completely stop MEV, but there are ways to reduce it.
Solutions for BNB Chain
To address these issues, BNB Chain is upgrading its MEV landscape using the Proposer-Builder Separation (PBS) model. This paradigm distinguishes block proposers (validators) from block builders, allowing builders to create blocks and propose them to validators, who choose the most profitable ones.
CZ's initiative to discuss MEV on the BNB Chain highlights the community's commitment to tackling complex challenges in the blockchain industry and enhancing future prospects.
