Decentralized finance has the opportunity to democratize access to financial markets that have typically only been open to the rich and powerful. But, DeFi will only survive and continue to grow if we take steps to ensure things are safe, private and fair for both retail and institutional investors. When faced with predatory market behaviors such as miner extractable value and front-running attacks it opens up old wounds to a “Flash Boys” era of traditional finance.
Another phenomenon that enables scenarios like front-running is miner extractable value. MEV is just a fancy new way to describe how miners can extract value by deliberately prioritizing or ordering transactions to their benefit. When the miners are working against the best interests of the blockchain, their ability to use MEV undermines one of the key value propositions of decentralization and that is censorship resistance.
A similar mechanism can be implemented to prevent MEV as well, but instead, the transaction is submitted, proven and verified on a blockchain without having to reveal its details to miners. This is the magic of ZKP that can be used to allow protocol rules to be implemented that see what transactions take place through cryptographic proofs. All of this is without revealing more information than is needed to verify the transaction under any existing protocol rules that said transactions must meet.
and that's exactly why im currently using CoinovyOfficial
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