On July 2nd 2024, a group of developers unveiled EIP-7732 to bring enshrined proposer/builder separation (ePBS) to Ethereum. ePBS proposes changing how Ethereum blocks are verified by separating the task of confirming what happens in a block from agreeing on the block.
In this system, the block builder, typically responsible for adding and ordering transactions in a block, does not immediately add all the transaction details. Instead, they only include a signed commitment to the transactions and a value to pay the block proposer, who submits the block for approval.
TL;DR
EIP-7732 divides block creation into two distinct roles: Block Proposers select transactions, while Block Builders organize these transactions into blocks.
It introduces a formal interface between Proposers and Builders, ensuring correct block construction without Proposers directly influencing transaction selection.
This separation is embedded into the Ethereum protocol itself, ensuring consistent and secure block validation across the network.
EIP-7732 enhances efficiency, speed, security, scalability, and reliability by optimizing block creation processes and minimizing trust dependencies between participants.
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Imagine a restaurant kitchen where one person used to do everything—select ingredients and cook meals. This was slow and inefficient. With EIP-7732, the roles are split: one person (the block proposer) picks the best ingredients, and another (the block builder) cooks the meals. This separation makes the kitchen run faster and more efficiently because each person focuses on their specific task, ensuring better and quicker meals.
The Problem: Currently, validators on Ethereum are responsible for both proposing new blocks and validating their content (transactions and other data). This can be a time-consuming process, especially during periods of high network activity.
How EIP-7732 Works
EIP-7732, or the Enshrined Proposer-Builder Separation (EPBS), is a significant upgrade designed to enhance the Ethereum blockchain's efficiency, speed, and security by redefining the roles involved in the block validation process.
1. Separation of Roles:
🔹 Block Proposers: These entities are responsible for proposing new blocks. They select the transactions to be included in a block based on various criteria, such as gas fees and transaction validity.
🔸 Block Builders: These entities construct the actual blocks by organizing transactions into a block format. They are tasked with optimizing the block's construction for efficiency and speed.
2. Proposer-Builder Interface:
The proposal introduces a formal interface between proposers and builders. This interface ensures that proposers can trust builders to construct blocks correctly without direct involvement in the transaction selection process.
By formalizing this interaction, the system reduces the need for proposers to rely on builders' integrity, enhancing overall security.
3. Proposer-Builder Separation (PBS):
EIP-7732 embeds PBS directly into the Ethereum protocol. This means the separation is not an optional or external feature but a core part of the blockchain's operation.
This integration ensures that all network participants follow the same standardized process for block validation, reducing discrepancies and improving consistency.
⚡ Benefits of EIP-7732
1. Efficiency and Speed:
The clear division of labor allows block builders to specialize in constructing optimal blocks, while proposers focus on transaction selection. This specialization leads to more efficient block creation and faster transaction processing.
2. Security:
By reducing the trust requirements between proposers and builders, EIP-7732 minimizes the risk of malicious behavior. Proposers no longer need to trust builders blindly, as the protocol ensures that blocks are constructed correctly.
3. Scalability:
The separation allows for better handling of high transaction volumes. Builders can optimize block construction for varying network conditions, improving scalability and maintaining performance during peak activity.
4. Reliability:
Embedding PBS into the Ethereum protocol standardizes the block validation process. This standardization increases the reliability of the network, as all participants adhere to the same rules and procedures.
🔼 Data Credit -
> Ethereum Blog
> Cointelegraph
> eips.Ethereum
> Bitkan
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eBPS Will be another giant leap in Ethereum After Protodank Sharding. Though it won't be easy to implement in the system. It makes MEV extraction less cumbersome and safer for both builders and validators by removing the need for trusted middleware, aka relays. So, win win situation For all. Let's see.
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