🚀 Solana Faces MEV Threats: Marinade to the Rescue
posted 11 Dec 2024
With MEV attacks emerging as a serious decentralization risk, Marinade introduces its innovative fix for Solana’s growing concerns.
Understanding MEV (Maximum Extractable Value): This blockchain concept lets miners, validators, and other authorized actors make extra income by controlling the order and inclusion of transactions within a block.
Want the full picture? Read “What Is MEV and How It Impacts Blockchain Transactions?”
"Sandwich" attacks involve malicious actions where users or bots manipulate the order of transactions to trap traders and profit from price shifts. This increasingly threatens Solana’s ecosystem.
MEV, while capable of enhancing network performance, can devolve into a mechanism for enriching the few at the expense of the majority when left unchecked. This erodes trust in the system and poses a threat to decentralization.
Research has shown that MEV bots could rapidly dominate as top stakers on Solana, gaining disproportionate influence over the network. This could lead to centralization, undermining the core values of blockchain technology.
“Sandwich attacks are a serious threat to the Solana blockchain. Source: Medium
Their proposal seeks to level the playing field, ensuring MEV-generated opportunities are distributed fairly among all network participants rather than concentrated in the hands of a powerful few.
The proposed solutions to address the problem include:
- Creating a public oversight committee responsible for monitoring stake delegation and detecting bad actors among validators.
- Launching a public mempool to equalize MEV opportunities and hinder bot activities.
- Investing in MEV research and the development of innovative countermeasures.
Marinade believes curbing “sandwich” attacks is key to enhancing Solana’s security and ensuring its true decentralization.
Moreover, users could receive a larger portion of MEV-generated rewards. Researchers estimate that sandwich bots currently siphon millions of dollars daily from the network.
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