To address Ethereum censorship issues, Ethereum co-founder Vitalik Buterin suggests “partial block auctions.” Vitalik Buterin wants to limit the authority of builders in order to prevent centralization and other Ethereum economic misuse. Concerns about Ethereum censorship grew significantly with the Merge’s shift to proof-of-stake (PoS).
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Vitalik Buterin Will Use Partial Block Auctions to Prevent Ethereum Censorship
As developers attempt to prevent Ethereum censorship following the Merge, Ethereum co-founder Vitalik Buterin advocates prohibiting builders from producing complete blocks. Partial block auctions, he says, can further decentralize block production by allowing builders to select “the first half of the block but not the second.”
Builders, on the other hand, will have enough capacity to acquire practically all of the maximal extractable value (MEV) and other benefits of proposer/builder separation (PBS). Builders can be reordered, pre-positioned, and attached, and proposers can be limited.
Vitalik Buterin suggests three options for restricting block manufacturing power
Inclusion lists, proposer suffixes, and pre-commit proposer suffixes are all part of it.
Inclusion lists: Unless the builder fills a block with additional transactions, the proposer gives a list of transactions to be included in the block. However, the flaws include concerns with incentive compatibility, increased requirements on proposers, exploitation such as sandwich attacks, and incomplete enshrining for account abstraction.
Proposer suffixes: The proposer adds a suffix to the block that prevents builders from seeing the proposer’s information and allows them to add transactions that builders missed. This avoids compatibility difficulties but suffers from the same drawbacks as inclusion lists.
Proposer pre-commit suffixes: The proposer pre-commits to a Merkle tree or KZG, as well as any additional transactions they wish to include in the block. A proposer adds the suffix after a builder develops a block. This eliminates a proposer’s MEV chances while correcting other flaws.
To prevent centralization, Vitalik Buterin suggested restricting authority for both proposers and builders and including a third party in the block creation process. As a result, it will assist to alleviate Ethereum censorship.
Price of Ethereum (ETH) Following the Merger
As censorship fears grow following the Merge, the Ethereum (ETH) price remains low. Circumstances of censorship have also caused the market cap of Circle’s USDC stablecoin to go below $48 billion.
At the time of writing, the price of Ethereum (ETH) is $1,290, down about 2% in the previous 24 hours. Since the Merge, the price of ETH has dropped by more than 35%.
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