[ePBS Breakout Room] [An Incomplete Guide to PBS] [Seeing Like a Protocol] [MEVconomics.wtf Summit] [Proposer-Builder Separation]

ePBS would enshrine relays as a protocol-level actor, replacing their current off-chain role:

This would ensure payment enforcement and eliminate single points of failure associated with relays.

However, it would also introduce additional protocol complexity, potentially making it harder to change slot times and other parameters in the future.

Builder Safety Concerns with ePBS:

This refers to the risk that validators (attesters) could grief builders by splitting the view of the fork choice, preventing their blocks from being included in the chain.

Finding a solution to this problem is crucial for the viability of ePBS.

Design considerations for ePBS include:

Whether builders should be required to stake ETH

The role of slot voting in penalizing proposers who do not post blocks

The impact of ePBS on slot times and other protocol parameters

There is a need to clearly define the design criteria for ePBS to facilitate consensus on its implementation.

This includes identifying the specific problems that ePBS aims to solve and the trade-offs associated with different design choices.

Once the design criteria are established, a concrete specification for ePBS can be developed.

This specification should address all aspects of the protocol, including the roles and responsibilities of different actors, the mechanisms for payment enforcement, and the handling of exceptional situations.

It is important to ensure a smooth transition that minimizes disruption to the network and maintains the integrity of the blockchain.

The transition to ePBS will require careful planning and coordination.

It is important to ensure a smooth transition that minimizes disruption to the network and maintains the integrity of the blockchain.

Going Further

For more, I recommend reading Notes on Proposer-Builder Separation. In the post Barnabe delves into MEV-Boost, emphasizing the continued alignment of incentives for participation. Advocating for protocol-level regulations to uphold equity, one suggestion is mandating that all bids go through the protocol to deter clandestine deals between builders and proposers. This measure guarantees that the entirety of a block’s value is obtained and distributed equitably, thereby optimizing social welfare and mitigating the potential for manipulation by dominant entities.