What Is SUAVE?
SUAVE (Single Unified Auction for Value Expression) is an independent network developed by Flashbots that acts as a decentralized, plug-and-play mempool and block builder for multiple blockchains. It aims to both empower users and maximize decentralization in public blockchains.
Background
With the rise of Maximum Extractable Value (MEV), the centralization of block building has become a significant issue. This centralization threatens network neutrality, resilience, and censorship resistance, leading to the potential for a few entities to discriminate against users and applications. SUAVE is Flashbots’ solution to these issues, aiming to prevent the centralization of block building and maintain the decentralization promised by cryptocurrency.
How It Works
SUAVE consists of three main components:
- Universal Preference Environment: This is a chain and mempool specialized for preference expression and settlement. It aims to aggregate the preferences of users and searchers from all participating chains in a single place.
- Optimal Execution Market: This is a network of special parties called executors who listen to the SUAVE mempool and compete to provide the best execution for user preferences.
- Decentralized Block Building: This is a decentralized network for block builders to access the encrypted preferences from users and merge them into partial or full blocks.
SUAVE’s goal is to eventually become the mempool and block builder for all blockchains, offering efficiency gains for users and a competitive advantage for block builders.
Key Takeaways
- SUAVE is an independent network developed by Flashbots that is designed to act as a decentralized mempool and block builder for multiple blockchains.
- The rise of Maximum Extractable Value (MEV) has led to the centralization of block building, threatening network neutrality, resilience, and censorship resistance.
- SUAVE aims to prevent the centralization of block building and maintain the decentralization promised by cryptocurrency.
- The network has three main components: the Universal Preference Environment, the Optimal Execution Market, and the Decentralized Block Building.
- SUAVE’s ultimate goal is to become the mempool and block builder for all blockchains, providing efficiency gains for users and a competitive advantage for block builders.
