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arXiv 2307.01686cs.GTcs.CRcs.DCcs.DSecon.TH
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活跃区块生产者下的交易费机制设计

Transaction Fee Mechanism Design with Active Block Producers

Maryam Bahrani, Pranav Garimidi, Tim Roughgarden

AI总结:

本文针对区块链中拥有私人区块估值的活跃区块生产者场景,证明不存在同时对用户和生产者激励相容的非平凡或近似福利最大化交易费机制,为相关增强方案的研究提供了数学依据。

摘要:

现有针对区块链交易费机制激励相容特性的研究,均以仅受共识层净收益驱动的被动区块生产者为研究对象。本文提出了一种活跃区块生产者模型,这类生产者对区块拥有私人估值(例如来自应用层的额外价值)。本模型中的区块生产者剩余可对应“MEV(最大可提取价值)”一词最常见的通俗含义之一。\n 本文核心结果表明,相较于被动区块生产者,活跃区块生产者场景下的交易费机制设计难度从根本上更高:存在活跃区块生产者时,不存在任何非平凡的或近似福利最大化的交易费机制,能同时对用户和区块生产者满足激励相容。这些结果可为当前学界与业界对用订单流拍卖、区块生产者竞争、可信硬件或密码学技术等组件增强交易费机制的兴趣,提供数学层面的合理性支撑。

英文摘要:

The incentive-compatibility properties of blockchain transaction fee mechanisms have been investigated with *passive* block producers that are motivated purely by the net rewards earned at the consensus layer. This paper introduces a model of *active* block producers that have their own private valuations for blocks (representing, for example, additional value derived from the application layer). The block producer surplus in our model can be interpreted as one of the more common colloquial meanings of the term ``MEV.'' The main results of this paper show that transaction fee mechanism design is fundamentally more difficult with active block producers than with passive ones: with active block producers, no non-trivial or approximately welfare-maximizing transaction fee mechanism can be incentive-compatible for both users and block producers. These results can be interpreted as a mathematical justification for the current interest in augmenting transaction fee mechanisms with additional components such as order flow auctions, block producer competition, trusted hardware, or cryptographic techniques.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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