Multiple Concurrent Proposers on Solana and Ethereum | Anatoly & Max
Episode publishedPodcast: Bell CurveBell Curve
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The original goal of this whole blockchain experiment was to remove centralized intermediaries, and one way to do that is just break up this natural monopoly that forms as a consequence, not of any deep reasoning or efficiency or anything. Just the things that the consensus protocol engineers were optimizing for did not include censorship resistance, or distributed information collection.
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everyone. Welcome back to another episode of Bell Curve. Before we jump in, quick disclaimer. The views expressed by my cohost today are their personal views, and they do not represent the views of any organization with which the co hosts are associated with. Nothing in the episode is construed or relied upon as financial, technical, tax, legal, or other advice. You know the deal. Now let's jump into the episode.
Alright, everyone. Welcome back to another episode of Bell Curve. Today, I'm joined by Anatoly Yakovenko and Max Resnick. Guys, welcome to the program. Thanks
for having me. Thanks
for having me.
Alright. This is gonna be a very fun episode. We're gonna be talking about multiple concurrent proposals. And just to caveat to listeners upfront, this is gonna be a relatively 301, style episode, and we're gonna peel back the layers of the onions and get into the specific designs that, Anatolia, you've spoken about over in Solana land and, Max, behind your plan to make Ethereum great again. But before we start getting into the weeds, I wanna just set a little bit of groundwork and lay a little bit of groundwork for the audience. So, Max, maybe I can kick it over to you here first. You were th
Yeah. So the the proposal monopoly is something that arises from this kind of accident of the architecture of the blockchain. And in most blockchains today, we have this single proposer architecture, especially the proof of stake blockchains. That means there's only 1 proposer who within their slot has the power to include and order transactions however they see fit. That allows them to charge monopoly rent on the state. It also allows them to do certain things like sensor transactions, which can really affect a lot of financial applications that you'd wanna build on chain. And we kind of stum
Alright. So I just wanna recap for the audience here. When you're looking at a proposer, what they're really doing is they are running an auction for access to block space. And the prerequisite of hosting a good auction, which is not maximally extractive, is this concept of censorship resistance. That's the base fundamental building block hosting a good auction. So if you're a proposer and you have monopoly control over the block, you can do all sorts of these extractive things that result in negative externalities such as lever. Right? So, Anatoli, can I actually just kick it over to you here
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