New oracle system to help DApps retrieve millions lost to MEV
Cointelegraph
Published Nov 03, 2022 05:14AM ET
Updated Nov 03, 2022 07:20AM ET
A new oracle system aims to retrieve the additional fees paid by decentralized application (DApp) users to miners called maximal extractable value (MEV). It is the maximum value a miner can extract from moving-around transactions when producing a block on a blockchain network.
MEV can be defined as the maximum value that can be extracted from block production in excess of the standard block reward and gas fees. The MEV comprises arbitrage and liquidation fees, among others, that could amount to millions and are often extracted by block producers.
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Written By: Cointelegraph
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