Blockchain developer Skale Labs has introduced its try to handle Maximal Extractable Worth (MEV).
Known as Blockchain Built-in Threshold Encryption, or BITE, the protocol operates on the consensus layer, encrypting transactions in order that not even validator nodes can see what transactions they’re together with of their blocks.
As a result of transactions are encrypted earlier than they enter the mempool and solely decrypted by validators after block finalization, BITE stops front-running, sandwich assaults, and different transaction exploits.
BITE’s creator and Skale Labs’ co-founder Stan Kladko claims that is the primary time MEV has been handled on the consensus degree with out sacrificing efficiency or decentralization.
“Blockchain gaming has confronted the identical transaction vulnerabilities as DeFi, the place gamers buying and selling belongings or making strategic strikes may be exploited by way of front-running and different MEV ways,” commented Skale Labs’ CEO Jack O’Holleran.
“BITE Protocol creates the elemental infrastructure for really truthful gaming, the place no participant can see transaction contents earlier than finalization. This prevents each subtle gamers and bots from gaining unfair benefits, enabling sport builders to design gameplay experiences the place strategic timing and truthful execution are assured – opening the door for mainstream web3 gaming adoption.”
