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Introduction Jito is a modified Solana stack that enables more efficient, profitable, and equitable MEV extraction. It builds on the standard Solana validator with additional off-chain components (the Relayer and Block Engine) and two core on-chain programs (the Tip Payment and Tip Distribution programs). The ultimate goal of Jito is to extrac...

WORK IN PROGRESS Overview BuilderNet is a decentralized block building network for Ethereum that ensures transactions remain private and MEV value is fairly redistributed to users. It brings together globally distributed, open-source builder instances—currently operated by Flashbots, Beaverbuild, and Nethermind—to collaboratively assemble bloc...

Part 2: Multi-Stage Solana’s Transaction Supply Chain and Control-Theoretic Optimization Recap of Part 1 and Overview of Part 2 In Part 1, we established the foundational queueing-theory concepts that apply to blockchain fee markets: M/M/1 Queues: We examined single-server queues with Poisson arrivals and exponential service tim...

Part 1: Foundations of Queueing Theory for Solana’s Fee Markets Introduction Solana’s promise of fast, high-throughput blockchain operations relies on an efficient fee market that keeps the network stable even under heavy load. In traditional blockchains, a simple “bidding war” can prioritize transactions by fee, but Solana’s architecture invo...

Special thank yous to Terry and Fikunmi for reading early versions of this article and providing feedback. Introduction Solana is a high-throughput blockchain that aims to maintain full capacity utilization without artificially constraining blockspace. Unlike Ethereum—which relies on a dynamic base fee model (EIP-1559) that makes blockspace ex...

Introduction Maintaining censorship resistance (CR) is important to ensure the integrity, fairness, and decentralization of decentralized applications (dApps). Censorship resistance safeguards against malicious actors attempting to manipulate transaction processing, thereby preserving the foundational principles of blockchain systems. The Atla...

WORK IN PROGRESS Abstract Maximal Extractable Value (MEV) has emerged as a critical factor influencing fairness, efficiency, and decentralization within blockchain ecosystems. MEV refers to the additional value that can be extracted through the manipulation of transaction ordering, insertion, or censorship within a block. This article presen...