Maximal Extractable Values (MEVs) have intrigued blockchain experts and enthusiasts. These seemingly elusive occurrences within blockchain networks have garnered significant attention because of their influence on network security, user behavior, and transaction efficiency. The purpose of this Cryptopolitan guide is to illuminate the complexities of MEVs, exploring their origin, development, and impact on various blockchain protocols.
The MEV Genesis
The concept of MEVs first came to light in a pivotal research paper published in 2016 by Phil Daian and his esteemed colleagues. This paper not only introduced the term “Maximal Extractable Values” but also provided a thorough analysis of its implications and effects on various blockchain networks. It became evident that MEVs were not exclusive to any specific blockchain protocol but could be found across a wide range of networks, including both Proof of Work (PoW) and Proof of Stake (PoS) systems.
As the blockchain landscape continued to evolve and expand, so did the nature of MEVs. New strategies and tactics emerged, empowering…